Why is Biden ratcheting up the trade war with China? | Business and Economy

US slaps tariffs on Chinese goods, and Beijing launches an anti-dumping inquiry in response.

Chinese imports have helped push down the cost of products like video games, T-shirts and home appliances in the United States. But many American factories say these imports have driven them out of business and cost more than a million people their jobs.

President Joe Biden says he will not allow China to “unfairly control the market”.

In the run-up to November’s elections, he has sharply raised tariffs on Chinese imports ranging from electric vehicles to solar cells to protect American industries and workers.

Beijing has launched an anti-dumping investigation in response.

And Cuba’s sugar industry is in crisis.

Plus, the world faces shortages of critical minerals.

Check out our Latest News and Follow us at Facebook

Original Source

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *