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Biden Unveils Sweeping New Tariffs on Chinese Imports
Posted
May 14, 2024
Views
5,955
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May 14, 2024
5,955
214
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4.60%
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0:59Now PlayingPresident Joe Biden unveiled sweeping tariff hikes on a range of Chinese imports, in an election-year bid to bolster domestic manufacturing in critical industries.
The US president cast the move as a necessary action to protect US workers and businesses from companies that he accused of stealing, cheating and dumping underpriced goods into international markets.
Biden is raising levies on semiconductors, batteries, solar cells, and critical minerals, in addition to previously reported increases on steel, aluminum and electric vehicles. The changes are projected to affect around $18 billion in current annual imports, the White House said.
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