President Joe Biden wants to triple U.S. tariffs on steel from China. The president plans to make the announcement that he is out to better protect American producers from Beijing’s “industrial overcapacity” in an address to steelworkers in Pennsylvania on Wednesday.
President Joe Biden speaks at a campaign event, Tuesday, April 16, 2024, in Scranton, Pa. Biden has begun three straight days of campaigning in Pennsylvania in his childhood hometown of Scranton. The Democratic president is using the working class city of roughly 75,000 as the backdrop for his pitch for higher taxes on the wealthy. President Joe Biden speaks at a campaign event, Tuesday, April 16, 2024, in Scranton, Pa.
In addition to boosting steel tariffs, Biden also will seek to triple levies on Chinese aluminum. The current rate is 7.5% for both metals. The administration also promised to pursue anti-dumping investigations against countries and importers that try to saturate existing markets with Chinese steel, and said it was working with Mexico to ensure that Chinese companies can’t circumvent the tariffs by shipping steel there for subsequent export to the U.S.
The administration says China is distorting markets and eroding competition by unfairly flooding the market with below-market-cost steel.
Joe Biden Beijing Economic Policy General News PA State Wire Lael Brainard Politics P World News Business N China Government United States Government U.S. News F Government Policy Washington News A Donald Trump World News U.S. News Washington News
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