US President Joe Biden wants to triple US tariffs on certain steel and aluminum imports from China. The White House announced in Washington on Wednesday that he had asked his trade representative to take the appropriate steps.
American workers face unfair competition because of the import of Chinese products, the statement said. The products were also among the most emissions-intensive in the world. The current average tariff is 7.5 percent – this rate dates back to the presidency of Biden’s predecessor, the Republican Donald Trump.
- More on the subject: The battle between the trading powers China and the USA is also affecting Austria’s economy
Also on Wednesday, Trade Representative Katherine Tai’s office announced that it would launch an investigation into Chinese trade practices in the shipbuilding, shipping and logistics sectors following a petition from five U.S. unions. Steel is a critical component, especially in shipbuilding.
“The petition contains serious and troubling allegations about the People’s Republic of China’s longstanding efforts to dominate the shipping, logistics and shipbuilding sectors,” Tai said. The allegations reflected what is already known in other sectors – namely that China is using “a wide range of non-market-oriented policies and practices” to “undermine fair competition.”
- Read here: China and EU argue over wind turbines
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Source: Nachrichten
