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President Joe Biden's administration has taken a firm stance on trade with China by proposing new tariffs on a range of Chinese imports, including electric vehicles, batteries, semiconductors, steel, aluminum, critical minerals, solar cells, and medical products.
These tariffs, set to impact approximately $18 billion in annual imports, aim to address concerns over China's competitive edge in key industries and bolster domestic manufacturing in pivotal sectors. The strategic imposition of tariffs reflects a broader shift towards a more assertive trade policy with China, emphasizing fair competition and protecting American jobs. The move underscores the administration's commitment to addressing trade imbalances and ensuring a level playing field in global trade relations.
Citations:
[1] https://natlawreview.com/article/us-china-trade-developments-biden-administration-announces-new-tariffs
[2] https://www.aljazeera.com/economy/2024/5/14/biden-slaps-new-tariffs-on-chinese-imports-ratcheting-trade-war
[3] https://www.bloomberg.com/tosv2.html?url=L25ld3MvYXJ0aWNsZXMvMjAyNC0wNS0xNC9iaWRlbi1pbXBvc2VzLXN3ZWVwaW5nLXRhcmlmZnMtb24tY2hpbmVzZS1jaGlwcy1taW5lcmFscy1ldnM%3D&uuid=4d713894-11d1-11ef-b59e-7f79820540f2
[4] https://www.carbonbrief.org/daily-brief/biden-accuses-china-of-cheating-on-trade-imposes-new-tariffs/
[5] https://www.reuters.com/world/what-are-bidens-new-tariffs-china-goods-2024-05-14/
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