US Pres. raises tariffs on varied imports of China

WASHINGTON, The White House announced Tuesday that President Joe Biden is raising tariffs on China's imports through vital strategic sectors for US economy and national security. In response to China's unfair trade practices and to counteract the resulting harms, President Biden is directing his Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on USD 18 billion of imports from China to protect American workers and businesses, said a fact sheet issued by the White House data. Following an in-depth review by the United States Trade Representative, President Biden is taking action to protect American workers and American companies from China's unfair trade practices, it noted. To encourage China to eliminate its unfair trade practices regarding technology transfer, intellectual property, and innovation, the President is directing increases in tariffs across strategic sectors such as steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar ce lls, ship-to-shore cranes, and medical products, the sheet noted. Biden's economic plan is supporting investments and creating good jobs in key sectors that are vital for America's economic future and national security, it stated. China's unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers, it noted. China is also flooding global markets with artificially low-priced exports. Today's announcement reflects President Biden's commitment to always have the back of American workers. When faced with anticompetitive, unfair practices from abroad, the President will deploy any and all tools necessary to protect American workers and industry. The tariffs included certain steel and aluminum products, semiconductors electric vehicles, Batteries, Battery Components and Parts, and Critical Minerals and lithium-ion EV batteries as well as others. Source: Kuwait News Agency