The Biden administration intends to triple the import tariffs on steel and aluminum from China.
Despite plans to announce that the import tariffs on steel from China will be tripled, U.S. President Joe Biden told reporters that this is not a trade war with the East Asian economic power.
He will announce the decision to increase the tariffs on Wednesday, April 18, during a speech to steel industry workers in Pennsylvania, one of the key battlegrounds in the presidential election.
This move represents the intersection of the Biden administration’s international trade policy with his efforts as the Democratic Party candidate to attract votes in a state that is likely to play a decisive role in determining the outcome of the U.S. presidential election.
However, the White House emphasizes that the goal of this action is to protect American industries against China’s unfair trade practices, not to win over union members.
Currently, the import tariff on steel and aluminum from China is 75 percent. The Biden administration plans to triple the tariff on both metals.