Biden to call for tripling tariffs on Chinese metals

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President Joe Biden will call for tripling tariffs on Chinese steel and aluminum when he speaks to union members in Pennsylvania. The Biden administration says China is overproducing goods to export to the U.S., driving down prices and hurting the American economy. The current average tariff on steel and aluminum from China is 7.5%, and Biden is calling on the Office of the U.S. Trade Representative to triple the tariff rate. Critics argue increased tariffs would raise consumer prices and inflation. Biden has been ramping up his economic rhetoric against China, following in the footsteps of former President Donald Trump. The push for higher tariffs on China is aimed at resonating with blue-collar voters in Pennsylvania.

#Biden #China #Tariffs #Steel #Aluminum

https://finance.yahoo.com/news/biden-call-tripling-tariffs-chinese-110000081.html