https://apnews.com/article/biden-china-tariffs-electric-vehicles-evs-solar-2024ba735c47e04a50898a88425c5e2cWASHINGTON (AP) — The Biden administration announced plans to slap new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment — an election year move that’s increasing friction between the world’s two largest economies.The tariffs come in the middle of a heated campaign between President Joe Biden and his Republican predecessor, Donald Trump, in which both candidates are vying to show who’s tougher on China.The Chinese government was quick to push back, issuing a statement Tuesday that the tariffs “will seriously affect the atmosphere of bilateral cooperation.” The foreign ministry used the word “bullying.”The tariffs are unlikely to have much of an inflationary impact because of how they’re structured. Administration officials said they think the tariffs won’t escalate tensions with China, yet they expect China will explore ways to respond to the new taxes on its products. It’s uncertain what the long-term impact on prices could be if the tariffs contribute to a wider trade dispute.The tariffs are to be phased in over the next three years, with those that take effect in 2024 covering EVs, solar cells, syringes, needles, steel and aluminum and more. There are currently very few EVs from China in the U.S., but officials worry low-priced models made possible by Chinese government subsidies could soon start flooding the U.S. market.
Chinese firms can sell EVs for as little as $12,000. Their solar cell plants and steel and aluminum mills have enough capacity to meet much of the world’s demand, with Chinese officials arguing their production keeps prices low and would aid a transition to the green economy.Lael Brainard, director of the White House National Economic Council, said the tariffs will raise the cost of select Chinese goods and help thwart Beijing’s efforts to dominate the market for emerging technologies in ways that pose risks to U.S. national security and economic stability.“China is simply too big to play by its own rules,” Brainard told reporters on a Monday call previewing the announcement.Administration officials have stressed the decision on tariffs was made independently of November’s presidential election. But Brainard noted in her remarks the tariffs would help workers in Pennsylvania and Michigan, two of the battleground states that will decide who wins the election.But China’s commerce ministry said in a statement that the tariffs were “typical political manipulation” as it expressed its “strong dissatisfaction” and pledged to “take resolute measures to defend its rights and interests.”
Under the findings of a four-year review on trade with China, the tax rate on imported Chinese EVs will rise to 102.5% this year, up from total levels of 27.5%. The review was undertaken under Section 301 of the Trade Act of 1974, which allows the government to retaliate against trade practices deemed unfair or in violation of global standards.Under the 301 guidelines, the tariff rate is to double to 50% on solar cell imports this year. Tariffs on certain Chinese steel and aluminum products will climb to 25% this year. Computer chip tariffs will double to 50% by 2025.For lithium-ion EV batteries, tariffs will rise from 7.5% to 25% this year. But for non-EV batteries of the same type, the tariff increase will be implemented in 2026. There are also higher tariffs on ship-to-shore cranes, critical minerals and medical products.The new tariffs, at least initially, are largely symbolic since they will apply to only about $18 billion in imports. A new analysis by Oxford Economics estimates the tariffs will have a barely noticeable impact on inflation by pushing up inflation by just 0.01%.The auto industry is still trying to assess the impact of the tariffs. But at present, it appears they could be assessed on only two Chinese-made vehicles, the Polestar 2 luxury EV and potentially Volvo’s S90 luxury gas-electric hybrid midsize sedan.“We’re still reviewing the tariffs to understand exactly what’s affected and how,” said Russell Datz, spokesman for Volvo, a Swedish brand now under China’s Geely group. A message was left seeking comment from Polestar, which also falls under Geely.The Chinese foreign ministry spokesperson, Wang Wenbin, said the U.S. is trampling on the principles of a market economy and international economic and trade rules.“It’s a naked act of bullying,” Wang said.
The Chinese economy has been slowed by the collapse of the country’s real estate market and past coronavirus pandemic lockdowns, prompting Chinese President Xi Jinping to try to jumpstart growth by ramping up production of EVs and other products, making more than the Chinese market can absorb.This strategy further exacerbates tensions with a U.S. government that claims it’s determined to strengthen its own manufacturing to compete with China, yet avoid a larger conflict.“China’s factory-led recovery and weak consumption growth, which are translating into excess capacity and an aggressive search for foreign markets, in tandem with the looming U.S. election season add up to a perfect recipe for escalating U.S. trade fractions with China,’’ said Eswar Prasad, professor of trade policy at Cornell University.The Europeans are worried, too. The EU launched an investigation last fall into Chinese subsidies and could impose an import tax on Chinese EVs.After Xi’s visit to France last week, European Commission President Ursula von der Leyen warned that government-subsidized Chinese EVs and steel “are flooding the European market” and said, “The world cannot absorb China’s surplus production.’’Biden’s Democratic administration views China, with its subsidies of manufacturing, as trying to globally control the EV and clean-energy sectors, whereas the administration says its own industrial support is geared toward ensuring domestic supplies to help meet U.S. demand.“We do not seek to have global domination of manufacturing in these sectors, but we believe because these are strategic industries and for the sake of resilience of our supply chains, that we want to make sure that we have healthy and active firms,” Treasury Secretary Janet Yellen said.
The tensions go far beyond a trade dispute to deeper questions about who leads the world economy as a seemingly indispensable nation. China’s policies could make the world more dependent on its factories, possibly giving it greater leverage in geopolitics. At the same time, the United States says it’s seeking for countries to operate by the same standards so competition can be fair.China maintains the tariffs are in violation of the global trade rules the United States originally helped establish through the World Trade Organization. It accuses the U.S. of continuing to politicize trade issues and on Friday said the new tariffs compound the problems caused by tariffs the Trump administration previously put on Chinese goods, which Biden has kept.Those issues are at the heart of November’s presidential election, with a bitterly divided electorate seemingly united by the idea of getting tough with China. Biden and Trump have overlapping but different strategies.Biden sees targeted tariffs as needed to defend key industries and workers, while Trump has threatened broad 10% tariffs against all imports from rivals and allies alike.Biden has staked his presidential legacy on the U.S. pulling ahead of China with its own government investments in factories to make EVs, computer chips and other advanced technologies.“We’ve created $866 billion in private-sector investment nationwide — almost a trillion dollars — historic amounts in such a short time,” Biden said last week in Wisconsin. “And that’s literally creating hundreds of thousands of jobs.”
>>1294974Didn't democrats hate it when trump put these tariffs on China?Why don't they hate it now?Oh wait that's right, because they have no convictions
Trump tells his supporters America is falling further behind China by not betting on oil to keep powering the economy, despite its climate change risks. The ex-president may believe tariffs can change Chinese behavior, but he believes the U.S. will be reliant on China for EV components and solar cells.“Joe Biden’s economic plan is to make China rich and America poor,” he said at a rally this month in Wisconsin.__
>>1294980Trump put tariffs on things soybeans and bicycles and baseball hats. Biden puts tariffs on things that matter.
>>1294980https://www.cnn.com/2024/05/14/politics/new-china-tariffs-biden-trump/index.html>Starting in 2018, Trump imposed new tariffs of up to 25% on foreign-made washing machines, solar panels, steel and aluminum, as well as many Chinese-made goods, including baseball hats, luggage, bicycles, TVs and sneakers.>If he returns to the White House, Trump plans to add to those tariffs by enacting a duty of at least 10% on all imports from all countries, a tariff upward of 60% on all Chinese imports and a 100% tariff on all cars made outside the US. It’s unclear what legal authority the former president would use to implement such widespread tariffs if he wins November’s election.>Several economic studies have shown that Trump’s tariffs failed to boost US manufacturing and ultimately cost more jobs than they created.>Plus, American importers have borne nearly the full cost of Trump’s tariffs, according to a 2023 study from the US International Trade Commission.>Americans have paid nearly $236 billion to date for tariffs that Trump imposed on imported solar panels, steel and aluminum and Chinese-made goods, according to US Customs and Border Protection. More than half of the duties have been collected during the Biden administration.
>>1294984>>1294983So I don't get it. These trump tariffs that you claim are bad for the economy you now support since Biden is continuing and even increasing them?You are cognitively dissonant.
>>1294984>>1294983Super convenient you're leaving out the fact that this original 25% tariff on cars was actually trump, and somehow you didn't support it when he did it and you said it was damaging but now it's super super cool because biden's doing it https://www.caranddriver.com/news/a25382834/china-us-tariffs-automotive-trump/>June 15>Trump announces 25 percent tariffs on $50 billion worth of Chinese imports, including China-built cars You people are not only cognitively dissonant but your dangerously unaware
>>1294980So you're saying->arrests protestorswhat you're really trying to say is->bombs childrenso what you're getting at is->is surreptitiously controlled by a foreign government..that democrats have no scruples?
>Republican bad!>Democrat good!this, literally.
>>1295001This
>Trumps bad! The damn devil!!>Hey we are gonna do all that shit Trump said hed do that we said was bad before, just vote for us you peice of shit or you aint black.
>>1295021Good post
>>1294999Reality claims they are bad, not me personally. Don't blame me for the economic devastation Trump wrought.
>>1295035If a global pandemic is trumps fault then the massive inflation since 2021 is biden's fault. You can't have it both ways.
>>1295035>Don't blame me for the economic devastation Trump wrought.Ah yes, Trump made Democrats lock down their states and destroy their economies for a virus the CDC finally admits we can treat like the flu
>>1295044>the CDC finally admits we can treat like the fluThe CDC never said this
>>1295036>15 days to slow the spreadHow easily you forget
>>1294974Waiting for the "OmG ThIs Is A dIsAsTeR!!!!!1111111111oneoneoneone" articles.Let's see if CNN, who complained about a moderate tariff increase on Chinese goods, will call Boe Jiden out for making Lazy Boy recliners cost more.>I don't remember the butthurt from the mediaHere's some lowlights:https://www.politico.com/news/2020/09/15/trumps-tariffs-china-wto-415182https://www.yahoo.com/news/ap-fact-check-trumps-trade-theories-dont-hold-041040314.htmlhttps://www.cbsnews.com/sacramento/news/trump-tariff-world-punches-back/https://leads.ap.org/best-of-the-week/hundreds-of-companies-avoid-steel-tariffsNone of that horseshit in this article.
chyyyNa didn't bribe Joe or Hunter enough
>>1295110This.Biden is keeping every trump tariff against China and even expanding a few, such as electric cars.Democrats are such spineless turds. They complain at first, but then a democrat does it and they line up to slobber the knob of some old man
>>1295067>The CDC never said thishttps://www.wsj.com/health/wellness/covid-guidelines-2024-cdc-symptoms-contagious-cdefb6b8>You should now follow the same precautions with Covid as you take with the flu, according to new guidelines from the CDC. Not only did the CDC say this very recently, the FDA also lost a lawsuit over Ivermectin and have to admit Ivermectin works against Covid and must take down all of their posts saying ivermectin doesn't work.https://www.biopharma-reporter.com/Article/2024/04/02/FDA-settles-ivermectin-lawsuit-removes-contentious-COVID-19-posts>The FDA has agreed to permanently remove several social media posts urging people not to take ivermectin for the treatment of COVID-19, after a lawsuit brought by three doctors accused the regulatory body of interfering with their ability to practice medicine. How does it feel to know you were wrong about everything because the government lied to you nonstop during covid and you believed it like the greedy little subservient fascist you are?
>>1295184The funniest part is your cognitive dissonance over who was running the government in 2020.
>>1295170Biden isn't keeping every Trump tariff, though, only about 1/3rd of them.
>>1295184>How does it feel to know you were wrong about everything because the government lied to you nonstop during covid and you believed it like the greedy little subservient fascist you are?I love it. I hope they fuck me in the ass more.
>>1295208Nice lie, faggot.>Biden’s administration spent much of his first term debating what to do with the duties Trump put on more than $300 billion worth of Chinese imports, before finally announcing Tuesday that he will increase Trump-era duties on steel, aluminum and clean energy products from China, including quadrupling tariffs on electric vehicles, while keeping the rest in placeKill yourself
>>1295232>Everything Biden does I don't like is automatically a lieOk boomer
>>1295234It's not that it doesn't like it. It's that the creature has no psychological mechanism to cope with the fact that it doesn't know what to think.It was told this was bad when Trump was doing it, not the creature cannot form any opinion of it's own.It must cope, and possibly dilate.
>>1295243t. Chuck Grassley
>>1295245t. Jerrold Nadler.
>>1295246lmao >>1295239
>>1295250So, you're informing me that Grassley's opinion on the matter has remained consistent?Not really interesting information.
>>1295251Grassley's opinion hasn't remained consistent like you seem to think.https://www.desmoinesregister.com/story/money/agriculture/2019/08/10/trade-war-china-donald-trump-chuck-grassley-wont-recommend-tariff-roll-back-iowa-farmers-agriculture/1970489001/
>>1295257Oh well. Neither have Democrats in general or journalists.
>>1295259If the best defense of Grassley's hypocrisy you can offer is "Democrats did it too" then you've lost.
>>1295234>>1295234You demonstrably lied tho. Biden kept or increased all trump tariffs. You lied and said he only kept 1/3 of them.It's not my fault you lie.You should stop lying.
>>1295273I understand you're upset about Republicans suddenly deciding they don't like tariffs when Biden makes them, but at least try to make an effort.
>>1295275Nah I don't care about that..I care that you lied to pretend that Biden wasn't keeping every trump tariff because it supported your argument at the timeYou are high and delirious on copium
>>1295280t. Chuck Grassley
>>1294974People around here tend to make the mistake of blaming or crediting the president for the state of the economy, but there are only three things a president can do that will affect the economy greatly within their tenure, instead of upwards of ten years down the road. Those three things are:1) Firing Fed heads and replacing them with those that will enact different policies.2) Declaring war.3) Tariffs.Tariffs are essentially a tax on imports that increase the price of various finished products and services when you tax components and materials as we seem to be doing here. As we've seen in the past, China will simply turn around and tax agricultural imports, creating an entirely new economy within their borders that would otherwise be priced out of existence, and forcing us to increase our subsidies on farming even more. So we're basically shooting ourselves in the foot while giving them motive to reinvest in their own economy.This will increase inflation and make it even more likely that Biden will lose the 2024 election. ...Not that he stands much of a chance. He maybe up against Trump, an elite billionaire career criminal pedophile who was best buddies with the Clintons for the better part of two decades and moved Epstein from state to federal prison just days before he """committed suicide""", but Biden is a zombie, and people will always take a super villain over a zombie.The president really shouldn't be able to unilaterally enact tariffs. That's taxation, and should thus require an act of congress. The presidential office has far too much power as it is.
>>1295283New Democrat cope just dropped, since you obviously realize your mistake and why you are wrong, I bid you good day
>>1295285>China will simply turn around and tax agricultural imports, creating an entirely new economy within their borders that would otherwise be priced out of existenceCommunist countries have no food.
>>1295285You forgot executive orders which have usurped the majority of congressional power.
>>1295307Ignoring the fact that at this point China is about as """communist""" as we are, it is true, China's agricultural sector made up about 12% of their economy in 2016.After Trump enacted the tariffs, however, and China countered with their agricultural tariffs, that sector grew to 31% of their economy. As the bulk of the rest of their economy was based on exports that were crippled by COVID, that growth in their internal economy helped them weather the plague far better than they should have. The tariffs we put on them basically saved their asses....and in either case, China currently produces enough food to feed the population of the states, several times over.
>>1295310Most executive orders can't fuck with the economy much in the short term, and the few that can, tend to get tied up in court.
>>1295287Ok Chuck
>>1295332>China currently produces enough food to feed the population of the statesChina is literally invading India because they lack the food and water necessary to maintain their population.
>>1295361They have been "invading india" since the early 1970s, they can't get over the Himalayas.
>>1295361They've been skirmishing on that border since forever, but it isn't about food. Granted, while they may produce enough food to feed the population of the states several times over, they also have more people than the states to feed, several times over. Nonetheless, I've not heard of mass starvations in China since they started violating Maoist principles so hard that they could power the whole country, if they could find a negative and positive pole on his rapidly spinning coffin.
>>1295280Biden wasn't keeping every Trump tariff. It says so in the OP article.
>>1295469The op article (intentionally) and nebulously picks and names certain tariffs in a vague manner, without stating every tariff, or a subset of tariffs, will be preserved. The polito article clearly states that Biden is preserving every tariff and increasing a few select ones
>>1295520Shitty damage control. A third CNN article was posted which debunks the idea that Biden renewed every single Trump tariff.
>>1295540You are literally reading what you want to read without thinking about what is actually written https://www.reuters.com/markets/us/biden-sharply-hikes-us-tariffs-billions-chinese-chips-cars-2024-05-14/>Biden will keep tariffs put in place by his Republican predecessor Donald Trump while ratcheting up othershttps://www.hklaw.com/en/insights/publications/2024/05/biden-administration-announces-completion-of-china>The White House announcement maintains current tariffs on Chinese imports and includes plans to impose new tariffs on a range of Chinese products. https://www.nytimes.com/2024/05/14/us/politics/biden-china-tariffs.html>The president announced increased taxes on Chinese imports in strategic industries, building on former President Donald J. Trump’s tariffs.Fuck off with your shitty shill narrative faggot
>>1295541No one believes you.
>>1295520The OP article would have named the baseball hat and bicycle tariffs if they still existed (they don't). The truly hilarious part is that you're still trying to blame this on Dems in the damage control thread made in response to this one.
>>1295574>The OP article would have named the baseball hat and bicycle tariffs if they still existedOp article clearly isn't a definitive list of every tariff currently against China, nor does it claim to be.Meanwhile, every other source says your wrong: >>1295541You really are a shit poor shill
>>1295585Yes it actually does claim to be but thanks for playing. You lost. Trump lost. Biden isn't continuing the tariffs on bicycles or baseball hats. Get over it already.
