U.S.-China Trade Relations and Tariffs

SOURCE www.nbcnews.com
President Joe Biden is raising tariffs on $18 billion of Chinese exports, including electric vehicles, in an effort to combat what the White House deems as unfair trade practices by China.

Key Points

  • Tariffs on Chinese exports, including electric vehicles, will increase
  • Biden administration aims to combat unfair trade practices by China
  • China denies accusations and vows to defend its interests
  • Tariffs not expected to have inflationary impact

Pros

  • Effort to protect American manufacturing
  • Attempt to address unfair trade practices by China

Cons

  • Potential increase in consumer prices and inflation
  • Criticism from opponents