Pittsburgh, Pennsylvania – President Joe Biden announced plans to triple tariffs on certain steel and aluminum imports from China in an effort to protect American jobs from what he deems as unfair competition. This move is part of his campaign strategy as he faces off against his predecessor, Donald Trump, known for his tough stance on trade with China.
During a speech to members of the United Steelworkers union in Pennsylvania, Biden criticized China’s practice of selling steel and aluminum at artificially low prices due to government subsidies, which he claims puts American workers at a disadvantage. The president emphasized the importance of preventing a repeat of job losses in the steel industry that occurred in the early 2000s due to Chinese imports.
In response to Biden’s proposed tariffs, the Chinese embassy in the US expressed strong opposition, citing dissatisfaction with the US’s use of national security and non-market behavior as reasons for the restrictions. They called for adherence to international economic and trade rules and for the cancellation of the tariffs to avoid further escalation of trade tensions and potential damage to global economic growth.
The White House defended the proposed tariffs, arguing that they would not significantly impact prices for consumers in the US. Additionally, Biden vowed to investigate unfair trade practices in other sectors, such as shipbuilding and logistics, while pushing for action against Chinese companies attempting to circumvent US border taxes by shipping through Mexico.
The president’s efforts to bolster American manufacturing and protect domestic industries are seen as crucial in securing support from working-class voters, a key demographic in the upcoming election. As Biden and Trump vie for votes, the issue of trade policy remains a central focus, with both candidates offering contrasting approaches towards addressing perceived trade imbalances with China.
Overall, Biden’s proposal to increase tariffs on Chinese steel and aluminum imports reflects a broader shift in Washington’s trade policy, departing from longstanding free-market principles towards a more protectionist stance. The outcome of these measures could have significant implications for the future of US-China trade relations and global economic stability.