May 16, 2024
(press release)
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“American workers continue to face unfair competition from China’s non-market overcapacity in steel and aluminum, which are among the world’s most carbon intensive. China’s policies and subsidies for their domestic steel and aluminum industries mean high-quality, low-emissions U.S. products are undercut by artificially low-priced Chinese alternatives produced with higher emissions,” the administration said. U.S. Raises Tariffs on Chinese Steel, Aluminum
5/16/2024 - The Biden administration is raising tariffs on Chinese-made aluminum and steel, along with other products, saying the move is intended to counter China’s unfair trade practices.
“(This) action will shield the U.S. steel and aluminum industries from China’s unfair trade practices.”
In response, China immediately promised to retaliate, the Reuters news service reported, saying that China’s commerce ministry “would take measures to defend its interests.”
The U.S. steel industry, however, is applauding the action.
“China continues to engage in widespread unfair trade practices that harm American steel producers and key steel-consuming industries such as the auto industry,” said Kevin Dempsey, president of the American Iron and Steel Institute (AISI).
“In particular, AISI is concerned that domestic automakers could easily be undercut by the heavily subsidized Chinese EV industry and welcomes the increased Section 301 tariffs on EVs and other clean energy products to address this threat. We appreciate the Biden administration’s commitment to addressing the challenges from China’s market-distorting, unfair trade practices on these products.”
Phil Bell, president of the Steel Manufacturers Association, said Chinese steelmakers have unfairly benefited from substantial state investment in manufacturing companies, low emissions standards and low worker safety standards.
“Those factors, combined with China’s unwillingness to import American goods except with onerous requirements, create an unfair playing field for American workers. The tariffs that President Biden announced today will go a long way toward ensuring American competitiveness by curtailing the dumping of cheap Chinese goods on our shores.”
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