Thursday, May 23, 2024

Biden wants to triple tariffs on Chinese steel and aluminum


President Joe Biden speaks at a campaign rally in Scranton, Pennsylvania. He is now proposing to triple the tariff on Chinese steel and aluminium. Photo: Alex Brandon / AP / NTB

Of NTB | 17.04.2024 14:04:03

Policy: The proposal was to be presented at a meeting of steelworkers in Pittsburgh on Wednesday and is based on a desire to protect American workers and manufacturers from what he calls unfair competition from cheap Chinese imports.

– Chinese subsidies for its steel. and aluminum industry means that high-quality American products are being undermined by cheap Chinese alternatives produced with higher emissions, the White House said in a statement.

In recent days, both Biden and Donald Trump have campaigned in Pennsylvania, which probably plays a decisive role in the presidential election in the autumn. The White House insists, however, that the move has more to do with protecting American manufacturing than appealing to working-class voters.

The White House believes that the global market and free competition are undermined by China’s overproduction, but higher tariffs carry risks. More expensive steel and aluminum can increase the price of cars, building materials and other products for American consumers.

(© NTB)


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