Republican California Rep. John Duarte unveiled his plan to save American farmers from possible financial ruin due to long-standing Chinese tariffs in an exclusive interview Wednesday with the Daily Caller News Foundation.
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Tariff Proponents Say U.S. Needs Trade Fairness, but Critics Warn Costs of American Goods Will Rise
President Joe Biden held a press conference Tuesday extolling the tariffs on Chinese products — including steel, aluminum, electric vehicles, solar panels and semiconductors — he is rolling out. The president argued that China aggressively subsidizes the products America imports, which makes it difficult for U.S. businesses to compete.
“Back in 2000, when cheap steel from China began to flood the market, U.S. steel towns across Pennsylvania and Ohio were hit hard,” Biden said.
Read MoreBiden Says Americans Can Buy Any Car Despite His Administration Forcing EVs to Be Huge Share of Sales by 2032
President Joe Biden suggested Tuesday it is false that his administration is restricting consumer choice in the automobile market, but his administration recently finalized a rule that will force electric vehicles (EVs) to make up a much larger share of overall auto sales over the next decade.
Biden made the remark during a Tuesday speech about his administration’s decision to significantly bolster tariffs against Chinese products including steel, semiconductor chips and EV batteries. The Environmental Protection Agency (EPA) finalized a rule in March that requires manufacturers to make EVs constitute between 35 percent and 56 percent of new cars sold in 2032, according to CNN.
Read MoreBiden Jacks Up Tariffs on Chinese Electric Vehicles, Critical Minerals
The Biden administration on Tuesday formally announced significant increases in tariffs targeting imports of electric vehicles (EVs) and other green energy technology from China.
The strengthened tariffs are designed to make it harder for cheaper Chinese green products, like electric vehicles, to flood the U.S. market and displace American companies, the White House said in its official announcement. Beyond EVs and critical minerals, the administration is also increasing tariffs on Chinese steel, computer chips, EV batteries and certain solar components.
Read MoreReport: US EV Manufacturing Faces ‘Extinction-Level Event’
An Alliance for American Manufacturing report called for tariffs to protect the U.S. electric vehicle market from an “extinction-level event” caused by Chinese competitors.
The report follows Chinese EV maker BYD, the world’s largest EV maker, releasing a $14,000 EV in February that could “demolish” domestic EVs, often $40,000 more expensive.
Read MoreAuto Executives: Chinese EVs Could ‘Demolish’ U.S. Production
Detroit placed the U.S. on wheels but if Motor City wants to go electric it faces fierce global competition.
Chinese electric vehicle maker BYD outsold Tesla in the fourth quarter of 2023. The foreign automaker said it produced more than 3 million new energy vehicles in 2023 compared to Tesla’s 1.8 million.
Read MoreBiden Looks to Tariffs to Bolster Struggling Electric Vehicle Market
The Biden administration is considering increasing tariffs on some Chinese products related to his green agenda, like electric vehicles (EV), in an effort to boost poor market demand and protect domestic industries, according to The Wall Street Journal.
Officials are considering setting higher rates on the already existing tariffs originally placed under the Trump administration, covering around $300 billion in Chinese goods, with Chinese EVs already having a 25% import tax, according to the WSJ. New tariffs could help domestic EV manufacturing, which has struggled with stagnant market demand, only rising from 3% in January to 4% in September of total vehicles sold in the U.S., while the share of EVs produced out of all vehicles has risen from 3% to 6% in that same time frame.
Read MoreChina’s Low Standards, Tariffs, Forced Labor Threaten U.S. Food Security, Agribusiness Experts Say
American grocery shelves are rapidly filling up with cheap canned food imported from China, displacing American producers’ goods and raising concerns about food safety and food security, U.S. trade associations and experts are saying.
According to the Can Manufacturers Institute (CMI), a trade association supporting manufacturers of cans for both food and non-food items and their suppliers, American producers are at a disadvantage because they have to pay U.S. steel tariffs, which do not extend to finished Chinese-produced canned foods.
Read MoreAmericans Support Trump’s China Tariffs as Republican Senators Push to Remove Them
As GOP senators seek to roll back former President Donald Trump’s tariffs on China now that he’s out of office, polling indicates Americans want to keep the harsh policies in place.
“For decades, Congress cut tariffs without much thought. But we cannot continue to do that when it comes to products made in China,” Republican Florida Sen. Marco Rubio told the Daily Caller News Foundation in a statement. “We should do everything possible to move supply chains out of China, but this so-called ‘China bill’ is actually subsidizing manufacturing in Communist China. It’s ridiculous.”
Read MoreBiden Loosens Trump Tariffs on Solar Panels Despite Labor Unions’ Pleas
President Joe Biden loosened tariffs placed on solar panel imports by the Trump administration Friday, paving the way for Chinese companies to produce more panels for American consumers.
Biden issued a proclamation Friday morning, increasing the tariff-rate quota on solar equipment, or the amount of solar panel components Chinese manufacturers can send to the U.S. before receiving a penalty. The action means Chinese solar cell makers may send up to 5 gigawatts (GW) of capacity, double the previous amount of 2.5 GW, to the U.S. before being hit with a levy.
The White House action also exempts bifacial solar panels, or panels that absorb sunlight from both sides. Such panels, which are increasingly common, are often used in industry-scale projects and are believed to be the “future of the industry.”
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