Biden publicizes increased tariffs on some goods from China

The president of the United States who is right now starting to speak on the uh tariffs on on China which has been a matter that has been discussed throughout this week let's listen right now to the president and I want to recognize all the labor unions here today including Steel Workers Auto Workers Sheet Metal Workers FCI ibw.

Communications workers boiler makers machinists I'm proud as rock said to be label the most pro-union pres in American history you heard me say it before wall Street's important a lot of good folks there but they didn't build America the middle class Built America and unions built the middle class folks leaders from Key American Industries are.

Here as well including steel aluminum solar semiconductors automakers and members of my cabinet are here as well Janet yell in the front row is murder's row here Treasury Department Julie Sue our trade our of of Labor kathern Tai our nation's trade representative and outstanding members of Congress as well.

From Michigan Debbie staban is here Debbie welcome and uh H and Haley Stevens uh um is here no I guess she there you are you did make they told me you might not be able to make it I'm sorry all right and congresswoman Debbie Dingle again you smile Debbie it's okay Alisa slotkin well you should be you you're you're you're responsible for.

A lot of this thank you for joining us as I announced a series of actions to make sure American workers and American Business and corporations can compete and win in the industries of the future because that's what this is about the fact is American workers are can outwork and out compete anyone as long as the competition is fair but for too long it.

Hasn't been fair for years the Chinese government has poured State money into Chinese companies across a whole range of Industries steel and aluminum semiconductors electric vehicles solar panels the industries of the future and even critical health equipment like gloves and masks China heavily subsidized all these products pushing.

Chinese company to produce far more than the rest of the world can absorb and then dumping the excess products onto the market and unfairly low prices driving other manufacturers around the world out of business you know I won't go into it but we were talking today about how many aluminum plants there used to be and how many there are now.

The price is on fairly low because Chinese companies don't need to worry about a profit because the Chinese government subsidized them and subsidized them heavily and Chinese relies on other anti-competitive tactics as well like forcing American companies to transfer their technology in order to do business in China I spent a lot of.

Time with xiin ping early on I told him he said why am I being unfair with China not unfair I said' look we'll play by the same rules if you want if you want to do business in China you got to have a 51% Chinese owner you got to provide access to all your intellectual property Etc you want to do that in America with silence sometimes it just outright steal.

Through cyber Espionage and other means and it's been a well documented and internationally recognized when you make tactics like these they you're not competing it's not competition it's cheating and we've seen damage here in America to name one example back in 2000 when cheap steel from China began to flood the market us steel times across.

Pennsylvania and Ohio were hit hard and any of you from those areas know well more than 1,800 iron workers and steel workers in Pennsylvania Ohio lost their jobs I'm not going to let that happen again that's why today I'm announcing new tariffs and key sectors of the economy that are ensure that our workers are not held back by unfair Trade.

Practices they include thing I'm announcing today 25% tariff on Chinese steel and Aluminum Products and we'll counter China's over capacity in these industries and we're making major investments in clean American Steel aluminum clean American Steel aluminum it's a big deal clean because of the way we manufacture it here it.

It'ss half as much carbon as steel made in China last month my Administration announced the largest investment in clean Manufacturing in all of history up to$ 1.5 billion in six clean steel projects Across America creating supporting thousands thousands of UN union jobs next a 100% tar on electric vehicles made in China people say.

Wow because we're not going to let China flood our Market making it impossible for American Auto automobile autom manufacturers to compete fairly we're also implementing a 25% TI on electric vehicle batteries from China and 25% Tire on critical minerals that make those batteries folks look I'm determined that the future of electric.

Vehicles will be made in America by union workers period and we'll do it by following International Trade laws to do it American companies are investing tens of billions of dollars in electric vehicles and batteries and thanks to my byproduct infrastructure law we're building a network of 500,000 charging stations all.

Across America creating thousands thousands of ibw jobs across America electric charging stations the reason to do this is simple electric charging station have to be as easy to find as a gas station and that's what this will be you're not going to have to worry about you're taking off and you're not going to be able to make.

It all across the country and one without having to figure something else out our partners around the world are making similar Investments they also want supply chain for electric vehicles that isn't dominated by unfair trade practice from China America can continue to buy Americans I want to make this clear not withstanding what the other.

Guy saying can buy any kind of car they want whether it's gas electric or hybrid but we're never going to allow China to unfairly control the market for these cars period next we're going to raise tariffs on Chinese solar panels from 25 to 50% here again because the Chinese government is subsidizing excess capacity they're.

Flooding the market they're driving manufacturing companies out of business in Europe but we won't let that happen here in America we're putting a 50% tariff on semiconductors made in China these are those tiny computer all of you know this but for the public those little tiny computer chips smaller than the fingertip that power everyday lives.

Everything from smartphones the automobiles to dishwashers satellites look American vanity cheaps but over time we stop making them we invested other overseas now thanks to my chips and science act one of the most significant Investments ever in science and technology we're bringing this vital energy back home where it started in the.

United States of America and finally we're putting tariffs on health equipment like masks and gloves that nurses and doctors wear every single day pandemic caught us any taught us anything we need to have a secure plot supply of essential supplies here at home folks these key sectors my.

Administration is combining investments in America with tariffs that are strategic and targeted it's a smart approach compare that to the PRI what the prior Administration did the my predecessor promised increase American exports and boost manufacturing but he didn't either he failed he signed a trade deal with China they were supposed.

To buy $200 billion more in American goods and said China Imports from America barely budged and now Trump and the magga Republicans want to cross the board tariffs on All Imports from all countries if reelected well that would drive up cost for families on an average of $1,500 per year each year it simply.

Doesn't get it for years I've heard many Republicans even Democratic friends say China is not on the rise ass me China is on the rise America is falling behind I've always believed they got it wrong America is rising we have the best economy in the world and since I've come to office the GDP is up our trade deficit with China is down to the lowest.

Level in over a decade and we're standing up against Chinese government unfair economic practices now and at the same time we're standing up for peace and stability across the Taiwan Straits I revitalized our Partnerships with the Pacific allies and India Australia Japan South Korea the Philippines Pacific.

Island nations I've made sure the most advanced American technologist we develop or invent can be used by the CH can't be used by the Chinese government to undermine our national security frankly before it Reigns frankly for all this tough talk on China has never occurred to my predecessor to do any of that bottom line I want Fair competition.

With China not conflict and we're in a stronger position to win that economic competition the 21st century against China than anyone else because we're investing in America again and American workers let me close me close with this I come from Grant a town like a lot of workingclass middle class neighborhoods all across America like graine Wisconsin.

Which I visited last week once a Manufacturing in boom toown until trickle down economics came along and the middle class and Racine got hollowed out six years ago my predecessor showed up carrying a gold and shovel promising thanks to his new1 billion manufacturing complex would be built and Racine he said it would be the eighth wonder of.

The world big promises that never came true he used that golden shovel to dig a hole and then he fell into it well it's not on my but that's part part of my well I'm delivering for Racine delivering thanks to investment in my Administration Microsoft is investing billions to build a new data center in Racine creating thousands of good paying.

Jobs because the view from Scranton in towns like it a lot different than from Mara Lago it's a view where that money doesn't determine your worth Everyone's entitled to be treating with dignity and respect and everyone deserves a fair shot we leave nobody behind that's the America we're building together that's why I've never been been more optimistic.

About our future and I'm really going fast because of the rain we that's why we have to remember who we are we're the United States of America and there's nothing there's nothing beyond our capacity when we do it together God bless you all and better get out of the rain thank you very very much thank you oh we take our questions.

There Mr President please sit please sit please sit Mr President Trump said today China is eating our lunch what did you say in response he said China is eating our lunch that's what Trump said today he been feeding a long time.

you've been watching President Biden announce increased tariffs on a number of goods from China including 100% increase in tariffs on electric vehicles on steel and aluminum Goods it's 25% the president made this move he said to help American workers Biden says.

China used is many anti-competitive moves and quote is cheating with these types of tactics we want to go now to CBS News chief White House correspondent Nancy ctis is right there at the white house uh Nancy great to have you uh thank you for rushing over to the camera position um President Biden had initially criticized the Trump.

Administration's tariffs on China during his 2020 presidential campaign he had pledged to repeal them what was uh behind that then and what is behind the change now major switch right Lilia yes uh when he was running for president when he became president he said he was going to roll those tariffs back he said that.

They were driving up prices for Americans on Chinese Imports but now he is dramatically expanding on those tariffs not only is he keeping some of the Trump tariffs in place but as you pointed out he is quadrupling tariffs on electric vehicles and and then raising tariffs on everything from from semiconductors to solar cells he said.

That he is doing this because uh the Chinese government is unfairly flooding the market with Chinese Goods by subsidizing these companies in a major way in China and the rest of the world simply can't compete he accused China here in the Rose Garden of unfair trading practices and he said he's doing this to level the playing field in these.

Distinct sectors not across the board uh the same way that president Trump did but uh by picking out particular areas where he believes that us sectors are being targeted on unfairly and ncy let's talk a little bit more about what the Biden Administration hopes to accomplish and how will these tariffs further strain the relationship with.

China well they don't necessarily come as a surprise to China because uh us envoys in their meetings with Chinese officials like the treasury secretary have been warning them that something like this would happen happen if China didn't change its practices and so uh the Chinese say that they're going to respond we'll probably learn more in the.

Coming hours and days about how they're going to respond to this uh but what Biden uh argued here in the Rose Garden is that um he believes that it should be the US building the electric vehicles of the future and he thinks that by doing this uh by targeting the the Chinese electric vehicle Market in a pretty significant way that he will enable uh.

The US EV Market to do just that well sounds like it was and I Told You So Nancy ctis thank you so much you're welcome

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