Biden’s tariffs disastrous for the environment and economy

AP reports:

President Joe Biden slapped major new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment on Tuesday, taking potshots at Donald Trump along the way as he embraced a strategy that’s increasing friction between the world’s two largest economies.

These tariffs are massive. They include:

  • EVs 102.5%
  • Solar cells 50%
  • Computer chips 50%
  • Steel and aluminium products 25%
  • Lithium-ion batteries 25%
  • Minerals 25%
  • Ship-to-shore cranes 25%
  • Medical Products Syringes and needles 50%
  • Personal protective equipment (PPE) 25%

It is beyond disappointing to see the US retreat away from free trade in favour of protectionism of inefficient local industries. It is bad for the US economy and bad for US consumers.

The worst impact may be on the environment. Every environmental group in the world should be up in arms that Biden for all his rhetoric on climate is massively increasing the cost of electric vehicles, batteries and solar cells.

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