Sectors include electric vehicles, microchips, and medical products.
President Joe Biden announced a variety of increases in tariffs on imported Chinese goods from the White House Rose Garden on Tuesday. The sectors of products, particularly semiconductors and other technology, are intended to protect national security interests.
“The fact is, American workers can out-work and out-compete anyone, as long as the competition is fair,” President Biden said. “For too long, it hasn’t been fair.”
The president said the U.S. seeks “fair competition with China, not conflict.”
“China’s using the same playbook it has before to power its own growth at the expense of others,” said Lael Brainard, director of the White House National Economic Council. “China’s simply too big to play by its own rules.”
As the Lord Leads, Pray with Us…
- For the president and his trade advisors to seek God’s wisdom regarding tariffs on imports.
- For members of the National Economic Council to be discerning as they provide recommendations to the president.
Sources: VOA News, CNN
