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  May 17th, 2024 | Written by

U.S. Increases Tariffs on Chinese Imports to Protect Domestic Industries

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Today, U.S. Secretary of Commerce Gina Raimondo issued a statement supporting President Biden’s directive to the United States Trade Representative to raise tariffs on $18 billion worth of imports from China under Section 301 of the Trade Act of 1974. This decision aims to shield American workers and businesses from China’s unfair trade practices.

Read also: Unraveling the Illusions: Assessing the U.S.-China Trade War

“President Biden is taking decisive action to ensure unfair trade practices do not threaten our competitiveness and economic security, while also strengthening American manufacturing,” said Raimondo. “This is a strategic approach to trade policy that will help protect key U.S. industries, like the clean energy and semiconductor sectors. We know the PRC’s playbook – we’ve seen their non-market actions on solar and steel – and cannot allow China to undermine U.S. supply chains by flooding the market with artificially cheap products that hurt American businesses and workers.”