(UnitedVoice.com) – Former President Donald Trump imposed strict tariffs on Chinese imports when he was in office. President Joe Biden criticized his predecessor for the policies when he took office. Now, the Democratic commander-in-chief has issued his own tariffs on the country’s goods.
Biden’s Tariffs
On May 14, Biden issued new tariffs on Chinese advanced batteries, electric vehicles, steel, solar cells, aluminum, and medical equipment. During an address in the White House’s Rose Garden, the president said, “American workers can outwork and outcompete anyone as long as the competition is fair.” He pointed out the Chinese government has not made it fair because they’ve poured money into their companies.
The president said the Chinese Communist Party is “cheating” and has given Chinese companies an unfair advantage in the global market.
Representatives from several trade unions in the aluminum, steel, and other manufacturers attended the president’s speech at the White House. He’d been facing pressure from some of the groups, Democratic lawmakers, and others to do more to combat the Chinese threat.
The new tariffs will impact about $18 billion worth of Chinese imports every year. The largest increase will be on Chinese electric vehicles. The tariffs will be increased from 25% to 100%. The decision to impose the tough tariffs on EVs was related to the hundreds of billions of federal subsidies for the American EV market.
The New York Times reported Lael Brainard, the White House National Economic Council director, called China’s business practices harmful to the United States and communities have “the opportunity to come back due to President Biden’s investment agenda.”
Not Everyone Is Happy
The Chinese Ministry of Commerce criticized the president, saying the Chinese government “firmly opposes” the tariffs. It went on to say the administration’s decision was “typical political manipulation” and would hurt their “bilateral cooperation.”
The Associated Press reported Wang Wenbin, a spokesperson for the Chinese Foreign Ministry, called the tariffs “a naked act of bullying.”
Colorado Gov. Jared Polis (D) criticized the administration, calling the tariffs “terrible.”
This is horrible news for American consumers and a major setback for clean energy. Tariffs are a direct, regressive tax on Americans and this tax increase will hit every family. https://t.co/ZLYvh3pm2Z
— Jared Polis (@jaredpolis) May 14, 2024
The National Retail Federation called on the president to reverse course on the tariffs, saying they will hurt the American people who are already dealing with inflation. David French, the organization’s president, said the “last thing” Biden should be doing is placing more taxes on goods.
Biden appears to be on a mission to prove that he can be tough on China, just like Trump. But the American taxpayer could ultimately be the one who pays the price.
Copyright 2024, UnitedVoice.com
