As November draws closer, President Biden is calling for tripling tariffs on Chinese steel and protections for the U.S. industry.
plans to unveil on Wednesday a series of new protections for the U.S. steel industry, as he moves to combat what the White House calls “unfair” Chinese competition and shore up his political fortunes in the battleground states of Pennsylvania and Ohio.
That probe, to be launched Wednesday by the office of U.S. Trade Representative Katherine Tai, could lead to the imposition of fresh tariffs or other penalties on Chinese vessels. The investigation is a response to a petition from the United Steelworkers and four other unions last month.
The burst of industry-specific safeguards is likely to cheer the president’s union audience Wednesday. But it could raise costs for industries that use steel, which employ far more workers., is courting the same voters with his own brand of economic nationalism. The Republican has said he will impose an across-the-board tariff of 10 percent on all foreign products and a 60 percent levy on Chinese imports, a move many economists say would stoke inflation.
Still, current Chinese imports amount to just 0.6 percent of total U.S. steel demand, according to a second White House official who spoke on background, under the administration’s ground rules for such calls.The 25 percent tariffs Biden wants on Chinese steel and aluminum would come after the U.S. Trade Representative concludes its long-running review of existing trade barriers on goods from China.” effect, since they apply to such a limited set of goods, the official added.
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