Trump’s tariffs on Chinese merchandise remain amid review
⚖️ Biden is allowing Trump-era tariffs to continue… for now.
Tariffs leveled by the Trump Administration against Chinese merchandise imports are still under review, although the extension was approved after an official letter from businesses advocates of the tariffs was received at the Office of the US Trade. By law, tariffs automatically expire four years after they were imposed unless otherwise stated.
President Joe Biden is advocating for a significant increase in tariffs on Chinese steel and aluminum imports, proposing to triple the current rates.
The Generalized System of Preferences (GSP) expired in 2020, ending the tariff-free access over 100 countries had to the United States market.
Russia’s invasion of Ukraine celebrated its one-year anniversary last week, and the White House marked the occasion by announcing $2.7 billion in new duties on metals and raw materials from the country
On the one hand, reducing greenhouse gas emissions is essential to slowing the pace of climate change and avoiding its worst consequences.
The Biden Administration is considering extending the Trump-era tariffs which account for hundreds of billions of dollars in levies - and some businesses don’t like that.
A total of 352 products from China were issued tariff exclusions that were scheduled to conclude within the following two weeks at the close of 2022.
Biden is allowing Trump-era tariffs to continue… for now.
But do tariffs do more harm than good? Experts are weighing in - it all depends on the situation.
Chinese tariffs levied by former President Trump have been largely ignored by the current administration: until now.
President Biden announced that he’s considering tariff cuts to battle high inflation.
Elon Musk has recently spoken out against US government tariffs on Chinese electric vehicles, calling them “not good” and market-distorting.