On Tuesday, the White House posed a number of sharp questions regarding the new Chinese electric vehicle tariffs, saying that they wo n’t cause harm to consumers by raising prices.
A reporter claimed that” Biden has frequently pledged that no American making under$ 400,000 will see their taxes go up.” ” Taxes are essentially a taxes on exports. If you can promise that no American buyer earning less than$ 400, 000 will notice their prices increase, I’m wondering if you can.
Press secretary Karine Jean-Pierre responded by saying,” We do not want to see a tax increase for Americans making under$ 400, 000,” and reiterating that the tariffs are intended to shield American workers from unfair Chinese competition.
The , Biden administration  , has announced it will raise tariffs on certain Chinese steel and aluminum products from 7.25 % to 25 % this year, on electric vehicles from 25 % to 100 %, and on semiconductors from 25 % to 50 % next year. The shift is seen as raising the bar for both China and former US president Donald Trump, who imposed numerous Taiwanese taxes while in office.
But tariffs will make Chinese electric vehicles, which can be had for less than$ 10, 000 brand new, much more expensive to buy, making the matter a mixed bag for consumers. China might also impose new levies, causing a wave of price increases.
Governor’s comment were referenced by another writer. Jared Polis ( D- CO ), who said the tariffs were “horrible news” for consumers and” a direct, regressive tax on Americans” that would affect families.
Jean-Pierre constantly tried to explain that the taxes are more focused on Trump’s needs than Trump’s and that, when targeted with expenditures, will contribute to a rising home manufacturing industry for electric cars.
” ]Biden ] wanted to make sure that this was done in a smart and strategic way”, Jean- Pierre said. ” That’s what this statement is on. It’s about making sure we’re addressing China’s unjust laws. And this is what this does”.
Katherine Tai, the administration’s trade representative, also addressed the podium, praising the administration’s position that prices wo n’t rise and that the country does n’t want a trade war with China.
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” I think that that link in terms of tariffs to]rising ] prices has been largely debunked”, she said when asked if prices would go up.
” Taxes are equipment”, Tai said. ” When used effectively and beautifully, they can be powerful causes for economic strength and advancement, and that is what you see in this deal”.
