Sun. Jul 14th, 2024

Joe Biden supports higher Chinese steel and aluminum tariffs.

By b0oua Apr 18, 2024
News

Additionally, the administration of Vice President Joe Biden pledged to launch an investigation into China’s “unfair practices” in the areas of shipbuilding, shipping, and logistics. At this point in the election campaign, the president of the United States of America is attempting to win over the support of the working class.

On Wednesday, in Pennsylvania, there was an operation that involved seduction among the working class. For the purpose of proposing a tripling of customs taxes on Chinese steel and aluminum, which are currently taxed at 7.5%, Joe Biden was scheduled to travel to Pittsburgh, which is a symbol of the ups and downs of the American industrial empire.

Before the visit, the White House highlighted that “American workers continue to face unfair competition from Chinese imports of steel and aluminum products, which are among the most polluting in the world.” This was said in reference to exports of steel and aluminum from China.

“As a result of Chinese policies and subsidies to their domestic steel and aluminum industries, high-quality American products are being outdone by Chinese alternatives that are produced with higher emissions and are produced at artificially low costs,”

An important state in the election

One of the states that will play a significant role in determining the outcome of the presidential race between Joe Biden and Donald Trump on November 5 is Pennsylvania, which, depending on the elections, oscillates between the left and the right political parties. Employees of steelworks are also monitoring with alarm the proposal that Nippon Steel, a Japanese company, has to acquire US Steel, an American company that is a competitor of Nippon Steel.

According to what he said, “President Biden will continue to make it abundantly clear that US Steel has been an iconic American steel company for more than a century and that it is essential that it remains a nationally owned and operated American steel company.” during the journey, you should remember the White House.

Unfair business practices

Concurrently, the administration of Vice President Joe Biden said that it would be conducting an investigation into China’s “unfair practices” in the areas of shipbuilding, maritime transportation, and logistics. A request for this probe was sent to Trade Representative Katherine Tai by five American unions in the month of March. The unions accused Chinese practices of being “far more aggressive and interventionist than any other country.”

This is not the first time that the administration of Vice President Joe Biden has joined forces with labor unions to condemn the actions of rival companies; in the past, they have already expressed their disapproval of the violations of labor rights that occurred in Mexico. Katherine Tai, the United States Trade Representative, noted on Wednesday that this is a component of the “strategy” that the United States employs to maintain its competitiveness. During her recollection, she noted that “advancing workers‘ rights abroad also means strengthening workers at home.”

The phrase “Collaborate with Mexico”

Additionally, Joe Biden will on occasion request that his administration “work with Mexico to prevent China from circumventing customs duties on steel and aluminum.” Because of the massive free trade deal known as the USMCA, which links Mexico with the United States and Canada, Mexico has become a land that is extremely hospitable to Chinese investments. This is a rising problem that needs to be addressed in order to prevent Chinese steel exports from accessing the market in the United States under the tariffs that are imposed by the United States-Mexico-Canada Agreement (USMCA).

Against the backdrop of a fierce competition with China and efforts to reduce the United States’ reliance on Chinese industry, several declarations have been made. In spite of the fact that conversations between the two nations have been restarted, Janet Yellen, the Secretary of the Treasury of the United States, expressed her disapproval of the excessive manufacturing of goods in China while she was in Beijing. Concerns that have grown as a result of the slowdown in the Chinese construction sector, which has resulted in products being made available for export.

It would appear that the internal disagreement in the White House on customs taxes with China has been resolved with the implementation of this new protectionist measure on Chinese steel. In spite of the fact that inflation was at its greatest point in 2022, the government of Vice President Joe Biden was still considering the potential impact that a drop in customs taxes could have on higher prices.

However, Donald Trump, who was the one who initially proposed raising the customs taxes on Chinese goods, has not changed his position either. He has already pledged to raise them even further in the event that he is elected president in November of next year.

In addition, discussions on free trade continue to be challenging with Europe, where efforts to resolve an old disagreement over steel and aluminum are still ongoing. On Tuesday, the governor of the Bank of France, Francois Villeroy de Galhau, was present at the Economic Club of New York for an exchange with the president of the New York Federal Reserve. During the course of the conversation, he recalled that “multilateralism and cooperation” have always seemed to him to be the best alternatives.

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