Biden sharply hikes US tariffs on an array of Chinese imports

WASHINGTON, May 14 (Reuters) – President Joe Biden announced a set of large increases in taxes on various products from China, such as electric vehicles, computer chips, and medical items. This move could lead to a disagreement with Beijing during an election year as Biden tries to win over voters who are not satisfied with his economic policies.

“Biden will continue tariffs set by Trump and increase others. The White House says this is to protect the US economy from unfair Chinese practices flooding global markets with cheap goods.”

The White House has stated that the new measures will affect $18 billion worth of imported goods from China. These include steel, aluminum, semiconductors, batteries, critical minerals, solar cells, and cranes. This announcement confirms earlier reports by Reuters.

The United States imported $427 billion in goods from China in 2023 and exported $148 billion to the world’s No. 2 economy, according to the U.S. Census Bureau, a trade gap that has persisted for decades and become an ever more sensitive subject in Washington.

“China is using familiar tactics to boost its own economy at the cost of others. They are investing heavily, even though they already have more than enough capacity, and flooding global markets with underpriced exports due to unfair practices,” explained White House National Economic Adviser Lael Brainard during a call with reporters.

The White House said that Trump's 2020 trade deal with China did not increase American exports or improve American manufacturing jobs. It also stated that the 10% across-the-board tariffs on goods from all sources that Trump has suggested would upset U.S. allies and raise prices. Trump has also considered imposing tariffs of 60% or more on all Chinese goods.

Administration officials said their actions are “carefully targeted,” along with domestic investment, planned with close allies, and unlikely to make the ongoing inflation problem worse, which has already upset U.S. voters and put Biden’s re-election at risk. They also played down the chance of retaliation from Beijing.

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