On the 14th of May, the Biden administration in the United States imposed new tariffs on Chinese imports as its fresh move in the ongoing trade war. The Biden administration slapped new tariffs on Chinese EVs and EV batteries, along with solar cells, syringes, needles, steel and aluminium etc. President Biden said that he is “announcing new tariffs in key sectors of the economy that are going to ensure that our workers are not held back by unfair trade practices.”
In an X post, US President Joe Biden said, “I just imposed a series of tariffs on goods made in China: 25% on steel and aluminum, 50% on semiconductors, 100% on EVs, And 50% on solar panels. China is determined to dominate these industries. I’m determined to ensure America leads the world in them.”
I just imposed a series of tariffs on goods made in China:
— President Biden (@POTUS) May 14, 2024
25% on steel and aluminum,
50% on semiconductors,
100% on EVs,
And 50% on solar panels.
China is determined to dominate these industries.
I'm determined to ensure America leads the world in them.
On Tuesday, the White House stated that China’s “unfair trade practices concerning technology transfer, intellectual property, and innovation” have harmed America and accused China of “flooding global markets with artificially low-priced exports”.
The announcement emphasised the bipartisan nature of the trade war against China, which began under Donald Trump’s presidency and is witnessing a continuation under Joe Biden’s government. The new tariffs, levied pursuant to Section 301 of the Trade Act of 1974, will affect $18 billion in imports.
Rates of tariffs on Chinese products
The newly imposed duties include a 100% tariff on electric vehicles, a 50% tariff on semiconductors, and a 25% tariff on electric vehicle batteries imported from China. Some of the tariffs, including those on natural graphite, permanent magnets, lithium-ion non-electrical vehicle batteries, and medical gloves, will not take effect until 2026.
“A 100 percent tariff on electric vehicles made in China. And people say, “Wow.” Because we’re not going to let China flood our market, making it impossible for American automakers — automobile — auto manufacturers to compete fairly. We’re also implementing a 25 percent tariff on electric vehicle batteries from China and a 25 percent tariff on the critical minerals that make those batteries. We’re going to raise tariffs on Chinese solar panels from 25 to 50 percent. Here, again, because the Chinese government is subsidizing excess capacity, they’re flooding the market…” Biden said.
Biden hits out at China’s market monopoly and anti-competitive tactics
On Tuesday, President Joe Biden said that the Chinese government injects money into Chinese companies including those of steel and aluminum, semiconductors, electric vehicles, solar panels and health equipment. The Chinese companies have been accused of overproducing the products and then dumping them into the international markets at “unfairly low prices” to drive out other manufacturers from the market.
“The prices are unfairly low because Chinese companies don’t need to worry about a profit because the Chinese government subsidized them and subsidized them heavily. And the Chinese relies on other anticompetitive tactics as well, like forcing the American companies to transfer their technology in order to do business in China,” Biden said.
Biden goes the Trump way after slamming Trump for taking similar steps against China
While on Tuesday, Biden imposed a slew of tariffs on products from China, he had severely criticised former President Donald Trump for raising tariffs on Chinese products during his tenure. Back in 2019, Joe Biden had said that Trump “doesn’t get the basics”. This came after the Trump administration had in 2018 imposed stage three of Section 301 tariffs in September 2018 10 percent on $200 billion worth of Chinese goods and announced similar steps in the next couple of months as well.
In an X post in 2019, Biden said, “Trump doesn’t get the basics. He thinks his tariffs are being paid by China. Any freshman econ student could tell you that the American people are paying his tariffs. The cashiers at Target see what’s going on they know more about economics than Trump. #TeamJoe.”
Trump doesn’t get the basics. He thinks his tariffs are being paid by China. Any freshman econ student could tell you that the American people are paying his tariffs.
— Joe Biden (@JoeBiden) June 11, 2019
The cashiers at Target see what’s going on – they know more about economics than Trump. #TeamJoe
Interestingly, in 2020, while contending for the presidency, Biden promised to eliminate Trump’s tariffs if voted to power. However now, not only is Joe Biden retaining those Trump-era tariffs in place, but he is also adding new tariffs to the list.
US lectures India on Russian oil purchase, Chabahar Port deal, alleges ‘xenophobia’, goes berserk against China to defend its own interests: The great Biden hypocrisy
Earlier this month, Biden had called India, China, Japan and Russia “xenophobic” and said that the “xenophobic” nature of India, China, Japan and Russia is responsible for their economic troubles and argued that America’s economy is growing because it welcomes immigrants to its soil.
“Why? Because we welcome immigrants. We look to — the reason — look, think about it. Why is China stalling so badly economically? Why is Japan having trouble? Why is Russia? Why is India? Because they’re xenophobic. They don’t want immigrants,” Biden said.
Back in 2022, the White House and other top US officials openly urged India to reduce its reliance on Russian energy as US imposed sanctions on Russia over its war in Ukraine. On one hand, US and Europe raised ‘concerns’ over India buying Russian oil on the other the US did not show any interest in relaxing sanctions on Iranian and Venezuelan oil.
Responding to the US and Europe’s ‘concern’ regarding India’s Russian oil purchase, External Affairs Minister S Jaishankar had in 2022 said: “If countries in Europe and the West and the US are so concerned, why don’t they allow Iranian oil to come into the market? Why don’t they allow Venezuelan oil to come into the market? They have squeezed every other source of oil we had and now they say not to get the best deal for your own people. I don’t think that’s a fair approach.”
Recently, India signed India signed a 10-year contract with Iran to manage operations at the Chabahar Port. Just hours after the deal on 13th May, the United States has ‘warned’ that any country considering any business deal with Iran is exposing itself to the “potential risks of sanctions”.
On one hand, the US goes all out to protect its own interests and has no qualms in taking stringent measures such as imposing huge tariffs on products from China, On the other hand, the country warns, threatens and gives sanctimonious sermons on free trade, globalisation, cooperation and whatnot to others.
