Biden Calls for Tripling of Chinese Steel Tariffs - Modern Distribution Management

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Biden Calls for Tripling of Chinese Steel Tariffs

President Biden wants to raise the tariff rate on certain Chinese steel and aluminum imports to cut out "unfair competition".
Steel, Shelf with structural materials on the shelves in the building warehouse. high contrast and monochrome color tone.

President Joe Biden wants the United States Trade Representative to triple the tariff rate on Chinese steel and aluminum imports to cut out what he calls “unfair competition” to American industry.

“China’s overcapacity and non-market investments in the steel and aluminum industries mean high-quality U.S. products have to compete with artificially low-priced alternatives produced with higher carbon emissions,” according to a White House Fact Sheet posted on April 17.

The current average tariff on certain steel and aluminum products is 7.5%

Biden is also directing his senior team to work with Mexico to jointly prevent China’s and other countries’ evasion of tariffs on steel and aluminum imported from Mexico into the United States.

“This is a growing challenge that must be addressed to prevent Chinese and others’ steel exports from gaining access to the U.S. market and evading Section 232 or Section 301 tariffs,” according to the fact sheet.

Read more coverage on the Wall Street Journal, CNBC and AP.

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