Biden set to impose tariffs on China strategic sectors, source says
In 2022, Biden launched a review of the Trump-era policy under Section 301 of the U.S. trade law.
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US President Joe Biden (IANS)
WASHINGTON: U.S. President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors, according to a person familiar with the matter.
The full announcement, which could take place as soon as Tuesday, is expected to largely maintain existing levies, according to the person. An announcement could also be pushed back, the person said. Details on the precise value or categories of tariffs that would be imposed were sketchy, but the administration was said to have zeroed in on areas of interest within strategic competitive and national security areas, the person said.
Biden, a Democrat seeking re-election in November, is looking to contrast his approach with that of Republican candidate Donald Trump, who has proposed across-the-board tariffs. Specific sectors were set to include electric vehicles, batteries and solar equipment, according to Bloomberg News, which first reported the story.
The measures could invite retaliation from China at a time of heightened tensions between the world's two biggest economies. In 2022, Biden launched a review of the Trump-era policy under Section 301 of the U.S. trade law. Last month, he called for sharply higher U.S. tariffs on Chinese metal products.
The Biden administration has also been pressuring neighboring Mexico to prohibit China from selling its metal products to the United States indirectly from there. The White House declined to comment while the office of the U.S. Trade Representative did not immediately respond to a Reuters request for comment.