Want Fair Competition With China, Not Conflict: Joe Biden

In an attempt to preserve the USA’s industries and increase exports, Biden’s administration has imposed heavy tariffs on Chinese imported goods, including batteries, EVs, aluminum, solar cells, and steel. These tariffs include a 100% tariff on EVs, a 50% tariff on semiconductors, and another 25% on electric vehicle batteries from China. 

Biden made this announcement while addressing the nation from the White House’s Rose Garden and said that he would ensure that American workers are not held back by unfair trade practices and that any American can buy any car they want. He said, “I want fair competition with China, not conflict. We are in a stronger position to win that economic competition of the 21st century against China than anyone else because we’re investing in America again.

Biden also said that the Chinese government has been dumping billions of dollars into various Chinese industries for years. These industries include steel, aluminum, semiconductors, electric vehicles, solar panels, and essential health equipment, like gloves and masks, and R&D.

In addition, the Chinese government provides various subsidies to its industries to increase production further. This has allowed Chinese industries to manufacture goods in surplus to the global supply, leaving a huge pile of unsold goods. As a result, the Chinese companies dumped the surplus product onto the international and American markets at really low prices, resulting in the closure of numerous manufacturers worldwide and in the USA. This decision by the Biden Administration can prove to be paramount in reviving the semiconductor industry in the USA, for which the USA recently passed the Chips Act, which incentivizes the production of semiconductor chips. 

Biden also took this time to take a dig at his predecessor, Donald Trump, saying he failed to increase the exports from the USA, even after signing a deal in which China was supposed to buy around $200 billion worth of goods from the USA. He further said, “And now, Trump and his MAGA Republicans want across-the-board tariffs on all imports from all countries, if reelected. Well, that would drive up costs for families on an average of USD 1,500 per year each year. He simply doesn’t get it.

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