ALBAWABA- US President Joe Biden has unveiled plans to increase tariffs on Chinese steel and aluminum products as part of a broader strategy to support the domestic steel industry and shore up electoral support.
During a visit to Pittsburgh on Wednesday, Biden announced his intention to impose new tariffs of 25% on select Chinese steel and aluminum imports, signaling a pivot towards a more protectionist trade policy.
This move comes amidst growing concerns over the impact of foreign competition on American manufacturing jobs.
The proposed tariffs, which are part of an ongoing review, aim to level the playing field for American steel producers by addressing what Biden described as "unfair trade practices" by China.
The United States will also initiate an official investigation into China's shipbuilding industry, further underscoring the administration's commitment to safeguarding American industries from foreign competition.
While the targeted tariffs represent only a fraction of the overall US market, Biden's announcement sends a clear message about his administration's priorities regarding trade policy.
By prioritizing the interests of American steelworkers and domestic manufacturing, Biden seeks to appeal to key constituencies ahead of this year's elections.
The proposed tariff hike has drawn praise from labor unions, including the United Steelworkers, which has been vocal in its opposition to foreign acquisitions of American steel companies.
Biden's decision to engage with Mexico to address concerns about the transit of Chinese steel through the country demonstrates his administration's proactive approach to trade enforcement.
Wednesday's announcement marks a significant shift in US trade policy under the Biden administration, signaling a departure from the more laissez-faire approach of his predecessor.
