Biden is seeking higher tariffs on Chinese steel as he makes an election-year pitch to union voters
==========

President Joe Biden is calling for a tripling of tariffs on Chinese steel and aluminum to protect American producers from cheap imports. The current tariff rate is 7.5% for both steel and aluminum but could climb to 22.5%. The Biden administration also promised to pursue antidumping investigations against countries and importers that try to saturate existing markets with Chinese steel. The move is largely symbolic as China accounted for just 2.1% of U.S. steel imports last year. Higher tariffs could increase the costs of cars, construction materials, and other goods for U.S. consumers. Biden's turn toward protectionism echoes the playbook of his predecessor, Donald Trump. The first step to the higher tariffs is the completion of a review of Chinese trade practices.

#Biden #China #SteelTariffs #UnionWorkers

https://apnews.com/article/biden-china-steel-tariffs-union-workers-0399b0450b67086ca86edc43ac45e5e9