U.S.-China Trade Tensions and Tariffs: Your Questions Answered

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 28 April 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

As the 2024 presidential election race heats up, the U.S. trade fight with China is increasingly becoming front-and-center. Last week, Secretary of State Antony Blinken met with China’s leader, Xi Jinping, as both President Biden and former President Donald Trump call for more trade restrictions on China, and Beijing hits some U.S. imports with new levies. WSJ reporter Andy Duehren, who covers the Treasury Department and economic policy, and chief China correspondent Lingling Wei answer listener questions on how the U.S.-China trade fight might affect you, your business and the broader economy. Luke Vargas hosts. Further Reading Biden Calls for Steep Hike to Tariff on Chinese Steel China Exports Rise as Trade Tensions Mount A China-U.S. Decoupling? You Ain’t Seen Nothing Yet Biden Admin Explores Raising Tariffs on Chinese EVs Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:17.8	Wall Street.
0:18.8	Hey what's news listeners? It's Sunday April 28th. I'm Luke Fargis.
0:27.0	And I'm Anne Marie Fertoli for the Wall Street Journal. This is What's News Sunday, the show where we tackle the big questions about the biggest
0:33.7	stories in the news? We reach out to our colleagues across the newsroom to
0:37.2	help explain what's happening in our world. This week we'll look at the state of
0:41.6	US-China trade relations, with Washington and Beijing
0:46.0	announcing trade restrictions on each other seemingly every week from new US tariffs on steel
0:51.8	and aluminum to China ordering a phase out of American chips,
0:56.4	is there any end in sight?
1:00.1	There are few things that President Biden and Donald Trump have in common, but one of them is a desire to keep certain Chinese products out of the United States.
1:10.0	While in office, Trump put in place broad tariffs on Chinese goods, 25% on steel and 10% on aluminum,
1:18.8	and even though those remain in effect, President Biden doesn't want to stop there.
1:23.6	Earlier this month, he called for additional tariffs on Chinese steel and aluminum products,
1:28.8	and more such measures could be on the way.
1:31.2	Look, right now, my U.S. Trade representative is investigating trade practices by the Chinese
1:36.0	government regarding steel and aluminum. If that investment confirms these anti-competitive
1:41.7	trade practices, then I'm calling on her to consider
1:44.6	tripling the tariff race for both steel and aluminum for us from China.
1:50.8	Well with Biden and Trump competing for the support of unions who favor such trade
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