"Biden Pushes for Tariff Increase on Chinese Steel During Pittsburgh Visit"

1 min read
Source: The New York Times
"Biden Pushes for Tariff Increase on Chinese Steel During Pittsburgh Visit"
Photo: The New York Times
TL;DR Summary

President Biden will call for a tripling of tariffs on certain Chinese steel and aluminum products, raising them to 25 percent from the current 7.5 percent or no tariffs at all, in an effort to protect American manufacturers from an influx of low-cost imports. He will also announce a new trade representative investigation into China’s support for shipbuilders and initiatives to work with Mexican officials to prevent China from evading American steel tariffs. This move reflects an escalating effort by the Biden administration to counter the impact of heavily subsidized Chinese exports on the American economy.

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