Biden hits Chinese goods with new tariffs
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 14 May 2024
⏱️ 30 minutes
🧾️ Download transcript
Summary
President Joe Biden announced a slate of new tariffs on $18 billion worth of Chinese goods today, including electric vehicles, semiconductors, steel and aluminum. We’ll look at how the tariffs compare to those implemented under the Donald Trump administration and what they mean to business owners. Plus, the latest on salvage efforts in the Port of Baltimore, and a new federal rule encourages more long-distance power lines.
Transcript
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| 0:59.0 | Okay, I guess it's a trade war then. |
| 1:04.0 | From American public media. |
| 1:07.0 | This is market plans. In Los Angeles, I'm Kyle Risdell. It is Tuesday today the 14th day of May. |
| 1:24.2 | Good as always to have you along, everybody. |
| 1:26.8 | There is a certain amount of deja vu |
| 1:30.1 | all over again to the big economic story of this day tariffs on China. |
| 1:36.0 | President Biden this time not only officially backing the Trump era tariffs on 350 or so |
| 1:42.0 | billion dollars worth of Chinese imports but also adding his own |
| 1:46.4 | on 18 billion dollars worth of Chinese EVs semiconductors solar panels and |
| 1:52.0 | critical minerals. Now, there is some compare and |
| 1:56.2 | contrast to be done here because President Trump used a whole lot of the same arguments |
| 2:00.5 | that the Biden administration used today. that China's trade policies are unfair, |
| 2:05.2 | that the country is boosting its own growth at the expense of others, that these tariffs are |
| 2:09.9 | necessary to protect American industry and jobs. Yes, the same, but also not. Here's |
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