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President Biden announces plans to triple tariffs on Chinese steel to protect US steel industry

President Joe Biden has revealed his intention to increase tariffs on Chinese steel imports, citing unfair competition and the need to safeguard the American steel industry. The proposed measures include tripling the existing 7.5% tariff rate, launching investigations into Chinese trade practices, and working with Mexico to prevent the circumvention of tariffs. Biden's economic pitch in Pittsburgh aimed to appeal to working-class voters and emphasize his commitment to American manufacturing.

Sources: - https://www.bbc.co.uk/news/business-68838063 - https://www.reuters.com/world/us/biden-call-higher-tariffs-chinese-metals-steel-city-pittsburgh-2024-04-17/ - https://apnews.com/article/biden-china-steel-tariffs-union-workers-0399b0450b67086ca86edc43ac45e5e9 - https://www.cnn.com/2024/04/17/politics/biden-tariffs-chinese-steel-economic-pitch/index.html - https://www.washingtonpost.com/business/2024/04/17/biden-steel-china-tariff-election/ - https://thehill.com/homenews/administration/4598293-biden-calls-on-trade-rep-to-consider-tripling-tariffs-on-chinese-steel/ - https://www.npr.org/2024/04/17/1245184430/biden-wants-to-hike-tariffs-on-imports-of-chinese-steel-and-aluminum - https://www.politico.com/news/2024/04/17/biden-trade-steel-workers-00152691 - https://www.wsj.com/politics/policy/biden-calls-for-steep-hike-to-tariff-on-chinese-steel-dd131264

Image credit: Jeff Swensen/Getty Images

Nevix News
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