What to know about Biden's new China tariffs

President Biden announced new steps Tuesday to keep China from undercutting U.S. companies. His administration is hiking tariffs on Chinese electric vehicles, semiconductors, batteries, solar cells, steel and aluminum. CBS News chief White House correspondent Nancy Cordes reports.
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[@frederickmfarias3109]

The stupidity of government officials who impose tariffs is effusive. Tariffs helped cause WWII and the Great Depression.. It’s too bad the news readers couldn’t comment on that.

[@TheMassacreOfTheBanuQurayzahQu]

China is deliberately driving the prices down by covering the costs to produce. Why? So, China can destroy American companies setting the US back technologically and economically. The tariffs will stop when China stops artificially driving the prices down.

[@user-hf2dr7sh4y]

So you're saying because we have tariffs Japan our Pacifist ally will invade Manchuria again? While it's an authoritarian in the CCP saber-rattling at Taiwan?

[@user-lb4yx1ms5f]

Futile effort to prop up inefficient manufacturing, actually this is punishing the consumers and reward inefficiencies.

[@kayezbiciak544]

The tariffs indirectly caused price increases, because corporations took advantage of them to price gouge. It has been shown, they do that at every opportunity.

[@JamesSmith-je7vf]

Big business is happy, less competition means more profits for them. Consumers will pay the price as always.

[@hsingkao2024]

Did the Trade Representative said that the link between price and tariffs of imported goods has been debunked?

[@ALWH1314]

Tariff is tax paid by American importers NOT Chinese exporters. Chinese sells a solar panel for $100 (just an example) before the tariff and still be $100 or more than likely heavily discounted after tariff. It’s the American importing solar panel has to pay tariff and passing the tariff to American consumers. Chinese can move the export via a third country like Vietnam or Mexico which they have started since the trump tariff. Actually Inflation Reduction Act is exactly the same as what we accusing China. The best way to compete is through good quality product and fair price. Just hope we don’t reply on tariff to keep selective companies competitive in long term. Coffin and tombstone are mostly made in China now, it’s hard to avoid Chinese import for “long term”, lol.

[@xuli3961]

US government: We don't want Chinese cheap products. China: Ok, just pay more. The US INFLATION: Good move(clap clap),good move!

[@skylerk55]

Sounds like a trump policy

[@liberalismisaids9564]

Know they wont do anything but drive up prices for consumers

[@user-hf2dr7sh4y]

You do know that Republicans say people in the US will not be able to retire by 65 and we will have to end social security by 2037? So you're right we should definitely let more American workers lose jobs to the Chinese labor market just because you can't afford a cheaper car.

[@liberalismisaids9564]

@@user-hf2dr7sh4y we are 34 trillion in debt , the dollar will collapse in October , life is gonna get real hard way before 2037 . Probably wasn’t a good idea to blow up and start coops all over the globe while sending our industry overseas

[@drexplordinaire]

just means we will have a TSLA monopoly and no real competition

[@heavenlyblue]

This will drive inflation even higher

[@incontroversyistherekindne6683]

Thank you very much for passing the climate legislation with the allocation for ev chargers ... I want that $15k ev!! Okay USA, where is it?

[@drumtwo4seven]

*THANK YOU JOE BIDEN !* 🇺🇸🇺🇸 THANK YOU FOR GIVING AMERICA INTEGRITY AGAIN ! LOWEST UNEMPLOYMENT IN 50 YEARS ! STRING UNIONS INCREASED JOBS FDT CHUMP20TOLIFE 🇺🇸

[@alholds]

High inflation, open borders, wars. That is Bidens America 🗑️

[@JeffEbe-te2xs]

Corporate welfare What democrats accuse republicans doing