Biden Takes Tough Trade Measures Against China

Written by Camilla Jessen

May.15 - 2024 10:01 AM CET

Photo: Consolidated News Photos / Shutterstock.com
Photo: Consolidated News Photos / Shutterstock.com
The US government has announced plans to impose special tariffs on a variety of Chinese products.

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The US government recently announced it would impose special tariffs on various Chinese products, including electric cars, solar cells, and semiconductors. This measure, portrayed by the US administration as protection against Chinese dumping prices and a necessary security measure, aims to stop China's efforts to dominate key technologies.

According to Der Spiegel, the Chinese government denounces these tariffs as "bullying" and warns that such steps would seriously harm the atmosphere of bilateral cooperation.

China's official reaction was sharp and clear, with statements suggesting a deterioration in diplomatic relations.

The new tariffs are set to be phased in gradually over the next three years, starting in 2024, which could further inflame the trade dispute between the world's two largest economies.

The US decision to increase tariffs comes at a time when economic pressures are increasing in both countries, and political tensions are already high.

Presidential candidate Donald Trump has joined the discussion, criticizing the current measures as inadequate and late. He argues that the US should take tougher and more comprehensive action against Chinese exports.

The Chinese government has announced that it will take decisive measures to defend its rights and interests.

This could indicate possible retaliation that would further unsettle global markets.

While US officials don't expect the new tariffs to escalate tensions, experts like Eswar Prasad of Cornell University warn that the upcoming US election season and weak consumer growth in China could be a "perfect recipe for escalation."

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