US President Joe Biden has called for tripling tariffs on Chinese steel and aluminium, citing “unfair competition” and seeking to win blue-collar votes in November elections. “Chinese policies and subsidies to the domestic steel and aluminum industries cause high-quality U.S. products to be undercut,” the White House said, adding that the U.S. Trade Representative is also launching a investigation into China’s business practices in the shipbuilding, shipping and logistics sectors.
The White House denounced “China’s policies and subsidies to its steel and aluminum industries,” according to a press release. Joe Biden, who hopes to be re-elected in November, has invited his United States Trade Representative (USTR) to “consider tripling the current tariffs”, which average 7.5% and are taxes on certain Chinese steel and aluminum products imported into the United States.
The Democratic president wants to convince citizens that he is the best ally of workers and unions and will visit the headquarters of the metalworkers’ union (USW) in Pittsburgh (Pennsylvania). He recently won their electoral support, notably through his opposition to the takeover of the American steel giant US Steel by Japan’s Nippon Steel. At the same time, the USW rejected the Republican candidate, former President Donald Trump, who is trying to win over the blue-collar vote and presents himself as the champion of the rebirth of the American manufacturing industry. He has promised to raise rates substantially if he is elected.
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2024-04-18 05:34:34