WASHINGTON >> President Joe Biden is warning that a new surge of cheap Chinese products poses a threat to American factories. There is little sign of one in official trade data, which show that Chinese steel imports are down sharply from last year and that the gap between what the United States sells to China and what it buys is at a postpandemic low.
WASHINGTON >> President Joe Biden today unveiled steep tariff increases on an array of Chinese imports including electric vehicle (EV) batteries, computer chips and medical products, risking an election-year standoff with Beijing as he woos American voters who give his economic policies low marks.
The United States is taking additional measures to quash China’s influence on its economy. The White House has announced a tremendous increase in tariffs on $18 billion worth of Chinese imports, including semiconductors, steel, aluminum and EVs. The latter’s tariff is set to increase fourfold, from 25 percent to 100 percent—a move that the White House claims “will protect American manufacturers.” The announcement further reported that China’s EV exports grew 70 percent between 2022 and 2023....
I don’t get the feeling that many Americans really want to get into EVs based on gasoline prices and the oil industry lobby there, which is many times bigger than in the EU. America is the world’s largest oil producer, so it is quite logical that there is a large lobby. Opinions about EVs vary […]
U.S. President Joe Biden has announced new tariffs on Chinese imports, a move that could further disrupt global supply chains and increase costs. These tariffs, encompassing a wide array of
The White House has announced steep increases in a number of Chinese import tariffs, raising the prospect of another trade war between the two countries. The last time this happened, China directly threatened to use Apple as a bargaining chip in response to new tariffs imposed by the previous administration more
President Joe Biden is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production. The increases will apply to imported steel and aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products. The new tariff rates – which range from 100% on electric vehicles, to...
President Biden is keeping the tariffs on Chinese imports put in place by his predecessor and 2024 opponent, former President Donald Trump. And he's adding new ones for things like electric vehicles.
Washington (Reuters) — The United States has barred imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labor of Uyghur minorities from the US supply chain. The companies are the latest additions to the Uyghur Forced Labor Prevention Act Entity List that restricts the import of goods tied to what the US government has characterized as an ongoing genocide of minorities in China’s Xinjiang region. US officials...
WASHINGTON >> The United States blocked imports from 26 Chinese cotton traders or warehouse facilities today as part of its effort to eliminate goods made with the forced labor of Uyghur minorities from the U.S. supply chain.
Biden Cabinet members like Janet Yellen, Gina Raimondo and Antony Blinken have all raised concerns about Chinese trade practices.
CNBC's Jim Cramer said a host of other stocks will also benefit, like First