Biden Targets China with Tripled Tariffs on Steel, Aluminum Imports

April 18, 2024
Biden Targets China with Tripled Tariffs on Steel, Aluminum Imports
  • President Joe Biden intends to increase the tariff rate on aluminum and steel imports from China by threefold, as part of an effort to support the US shipbuilding and steel industries.

  • The increased tariffs aim to counteract Chinese overcapacity and government-backed investments that are perceived to be unfair.

  • The US administration is also set to conduct investigations into China's maritime, logistics, and shipbuilding sectors following requests from national labor unions.

  • Biden's new tariff strategy marks a departure from his earlier criticism of tariffs imposed during the Trump administration, suggesting a nuanced approach to trade policy.

  • China has condemned the planned tariffs, labeling them as baseless and in conflict with World Trade Organization (WTO) regulations.

  • The announcement is expected to heighten tensions between the United States and China, potentially affecting other areas of diplomatic relations.

Summary based on 55 sources


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