This is an automated archive made by the Lemmit Bot.
The original was posted on /r/worldnews by /u/NikkeiAsia on 2024-04-17 14:03:05.
Biden to call for tripling tariffs on Chinese steel
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://asia.nikkei.com/Economy/Trade/Biden-to-call-for-tripling-tariffs-on-Chinese-steel
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
“China’s policy-driven overcapacity poses a serious risk to the future of the American steel and aluminum industry,” Brainard said.
In explaining the additional tariffs, Biden is expected to paint China’s steel as being “among the world’s most emissions-intensive” while being sold at “artificially low prices.”
In recent weeks, high-profile visitors to China including U.S. Treasury Secretary Janet Yellen and German Chancellor Olaf Scholz have pressed the issue of industrial overcapacity, especially when it comes to green products like electric cars and solar panels.
Biden has described himself as “the most pro-union president in history,” and the planned announcement is clearly part of an effort to win over union workers in swing states like Pennsylvania and Ohio.
With just over 200 days until the Nov. 5 presidential election, Biden trails former President Donald Trump, the presumptive Republican candidate, in six of the seven most crucial battlegrounds states, according to average poll numbers compiled by website Real Clear Politics.
At a House Ways and Means Committee hearing on Tuesday, USTR Tai testified that she is “closely reviewing” a Section 301 petition submitted from five national labor unions regarding China’s acts, policies and practices in the critical maritime, logistics and shipbuilding sector.
The original article contains 657 words, the summary contains 192 words. Saved 71%. I’m a bot and I’m open source!