President Biden unleashes a sweeping trade blitz, hiking tariffs on a range of Chinese goods across key sectors, including steel, semiconductors, electric vehicles, and medical products. The move aims to crack down on China while differentiating Biden’s approach from his predecessor, Donald Trump. As the 2024 presidential race looms, Biden’s trade policies are set to reshape US-China relations and global trade dynamics.
- Tariffs on steel, aluminum, semiconductors, electric vehicles, solar cells, and medical products surge under Biden’s new measures.
- The move follows nearly two years of review, with Biden seeking to crack down on China while taking a more targeted approach than his predecessor.
- The tariff storm is poised to reshape US-China relations and global trade dynamics, with implications for the 2024 presidential race and beyond.
Sources:
List of the new China tarrifs via the WH:
Steel and Aluminum
The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024.
Semiconductors
The tariff rate on semiconductors will increase from 25% to 50% by 2025.…
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