Virtual Media Briefing: U.S. Tariffs on Chinese Imports

CFR experts discuss President Joe Biden’s decision to increase tariffs on various Chinese imports and the implications for the U.S. economy and U.S.-China relations.
Speakers
Zongyuan Zoe Liu, Maurice R. Greenberg Fellow for China Studies, Council on Foreign Relations
Brad W. Setser, Whitney Shepardson Senior Fellow, Council on Foreign Relations
Presider
Matthew P. Goodman, Distinguished Fellow for Global Economic Policy and Director of the Greenberg Center for Geoeconomic Studies, Council on Foreign Relations
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[@hydroac9387]

The 'uhms' are distracting from the content. I suggest the moderator think about this.

[@user-yw4rx6kb3r]

Just look at the relationship between the Chinese and America has come to. None of their policy recommendations are working.

[@blafonovision4342]

Another blow to globalization. Excellent.

[@Djursnerable]

Globalization requires free and fair trade. China does not care about either.

[@philipwong895]

These tariffs are transitory just like Yellens's inflation. When the US buyer imports goods subject to tariffs from China, they pay the tariff to the US government. This cost and any markup are typically passed on to the end consumer, meaning consumers ultimately bear the burden of tariffs through higher prices. The Chinese seller, however, does not directly pay the tariff; the importer in the US bears that responsibility. China does not suffer the consequences of tariffs. The US consumers are being punished by having to pay higher prices. In 2012, President Obama, as part of his plan to double the U.S. share of the world's solar panels from 5% to 10%, imposed tariffs of up to 249% on solar imports from China. In response, China retaliated by imposing import restrictions on polysilicon from the U.S. At the time, the U.S. held a 50% share of the global polysilicon market, but this has since dropped to under 4%. The U.S. share of the world's solar panels has dropped to under 2%. China has promised to retaliate just as strongly in response to any new tariffs.

[@mattslowikowski3530]

So the US us raising taxes on selective consumption. Probably a good thing.

[@aihong2971]

Wait for the next ten years. America who?

[@SeanPan-it3jm]

Potus Harris now.

[@roro4787]

USA propaganda