Biden Raises Tariffs

(DailyEmailNews.com) – Despite criticizing the former president’s every move, Joe Biden refuses to acknowledge Donald Trump’s successes but relies on his policies to score political wins as if they were his own.

As detailed in a White House fact sheet, Biden’s administration announced an increase in tariffs on Chinese products that are crucial to certain sectors.

The administration pointed to China’s “unfair trade practices” as the reason for the heightened tariffs that will affect imports like steel, aluminum, semiconductors, electric vehicles and essential minerals.

The Biden team said that these tariff adjustments are strategically aimed at industries where significant investments are being made to boost American jobs.

The White House claimed:

“Today’s actions to counter China’s unfair trade practices are carefully targeted at strategic sectors—the same sectors where the United States is making historic investments under President Biden to create and sustain good-paying jobs—unlike recent proposals by Congressional Republicans that would threaten jobs and raise costs across the board.”

They criticized Trump’s China policies by alleging they “failed to increase American exports or boost American manufacturing.”

Specific changes include steel tariffs jumping from 7.5% to 25% this year and semiconductor tariffs from 25% to a hefty 50% by next year.

Biden’s support of the semiconductor industry is backed by the bipartisan CHIPS and Science Act, which aims to foster U.S. manufacturing in this key sector.

Furthermore, tariffs on Chinese electric vehicles will see a dramatic increase from 25% to 100% to align with Biden’s push for American-made electric vehicles over traditional gas-powered models.

However, according to a poll published by National Review, this policy has not won favor with swing-state voters.

Additionally, the administration plans to raise tariffs on various battery components and critical minerals crucial for electric vehicles.

For instance, lithium-ion battery tariffs will rise from 7.5 to 25% this year, with similar increases planned for other related imports in the coming years.

As reported by the New York Times, Biden also intends to maintain over $300 billion in tariffs on China, which Trump initially imposed.

For his part, Trump has vowed to increase tariffs further in a second term. His tariff policies marked a significant shift in U.S. economic strategy toward China.

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