Joe Biden calls for tripling of tariffs on Chinese steel

Steel has often been a target of tariffs, and it seems its on the table again. Cost of tariffs will be passed onto the customer, which is why I don't like this, any more than I like Trump's promise to slap 60% on all imports from there.

Joe Biden calls for tripling of tariffs on Chinese steel
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US President Joe Biden is pushing for tariffs to triple on Chinese steel and aluminium, as he seeks to boost union support in the swing state of Pennsylvania. In a meeting with United Steelworkers union members in Pittsburgh on Wednesday, Biden will call on trade representative Katherine Tai to triple the tariff on the imports from the current average of 7.5 per cent. Biden’s campaign is trying to shore up support among union workers ahead of November’s US presidential election, in which Pennsylvania could play a decisive role.

 

The US produces 4.3% of global steel production, which is about right, given our population is 4.15% of global population.

 

Come on, Joe. This is just stupid. Don't pull a Trump.

 

Better to work out why the US can't produce steel as competitively as China.

 

natural resources should not have tariffs, products should have tariffs

save our natural resources for future generations

 

Trump wins again.

 

Tariffs are bad for inflation. He should be rolling back Trump's stupid tariffs, not increasing them.

 

Yes, I do not like tariffs, since they punish the US consumer.

 

Mostly because we produce orders to actual standards, rather than producing chinesium.

 

Wage disparity with the Chinese labor force. Why is this difficult to understand?

 

Higher cost of goods discourages spending.

 

I'm not sure how much faith I have in Chinese steel but, they have improved.

 

I would like to see a complete analysis.

 

Not an enviable job...


https://www.reddit.com/r/TikTokCringe/s/KigioWRWin

 

we can with a tariff, but that also means we use more of our own natural resources

 

but it also means more jobs in the USA, thus more spending

as long as they buy American made if it costs the same as foreign goods

 

That's a great point.

 

This is true only if there is no other source for steel. I like it because it helps protect American steel companies. Good for Biden. He got one right. Every country engages in protectionism. To fail to do so can be far more expensive than the tariffs.

 

This is a liberal thing and always has been. This doesn’t surprise me. I’m actually usually against this sort of thing but with China…. I have different feelings. But doing it to get votes from union workers isn’t the reason it should be enforced.

 

People complain about inflation, while supporting policies which bring more inflation. Go figure.

That's why Trump is the "Mr Tariff"

 

Tariffs affect prices, not inflation. Inflation is caused by expansion of the money supply. Both presidents have it right. It seems they are likely more correct than you are.

 

The reason is immaterial. That is just politics. Actions are what matter.

 

There is:
1. Demand-pull inflation
2. Cost-push inflation
3. Increased money supply inflation
4. Rising wages inflation

When the government enacts policies, like import taxes, which forces prices to go up, it causes cost-push inflation.

Rising prices is really the only thing people care about.

Rise in global oil prices is not caused by money supply either, but it causes gas prices to go up, which is counted as inflation. Recently the energy prices have played a big part in the inflation issues.

 

I don't agree. My definition was true until fairly recently. #3 is correct. #4 is the response to devalued currency. 1 and 2 relate to prices, not inflation. Government likes to hide its true inflationary activities by throwing prices into the mix. So it becomes popular. What people view as price increases are really reductions in the value of their money. We know this because prices never decline over the long haul. The dollar has lost more than 90% of its value in my lifetime. Prices respond to 1 and 2 above. Inflation is permanent when a government won't allow deflation to correct inflation. Prices are temporary. The are in no way similar.

 

No, the reason does matter. If it’s for union then you are going to cause inflation for Americans because you’re trying to buy votes, not cool

if you are causing inflation to try and get them to treat us fairly in trade or trying to stop their confiscation of copyrights and patents then I would agree with it.

Reasons always matter.