Biden announces $18bn tariff hikes on Chinese imports
US President Joe Biden announced a series of tariff increases on various Chinese imports, including electric vehicles, computer chips, and medical products. This move risks an election-year standoff with Beijing as Biden aims to appeal to voters critical of his economic policies.
Biden will maintain tariffs introduced by his Republican predecessor, Donald Trump, while increasing others. The White House stated that this decision is due to “unacceptable risks” to US “economic security” from what it sees as unfair Chinese practices that flood global markets with cheap goods.
The new measures affect $18 billion worth of Chinese imports, including steel and aluminium, semiconductors, batteries, critical minerals, solar cells, and cranes, according to the White House.
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