This is a good example of using appointed Cabinet officials as media influencers to gain support for questionable economic policies.
Few Chinese Electric Cars Are Sold in U.S., but Industry Fears a Flood
Automakers in the United States and their supporters welcomed President Biden’s tariffs, saying they would protect domestic manufacturing and jobs from cheap Chinese vehicles.
It is defensive in a campaign to quash retaliation by China in expanding trade wars:
‘Significant’ Chinese response to US tariffs possible: YellenAFP
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“President (Joe) Biden believes that anything we do should be targeted to our concerns and not broad-based, and hopefully we will not see a significant Chinese response. But that’s always a possibility,” Yellen told Bloomberg TV in an interview on Monday.
. . .In the latest move, set to be announced on Tuesday, levies on EVs are expected to roughly quadruple, according to the Wall Street Journal.Yellen said on Monday that she did not want to get ahead of any potential announcement on the review.
The Biden administration fears that overproduction could deal a blow to burgeoning US industries, especially in green tech. . .
- But she stressed that “the president believes that it’s critically important for the United States to have a role and a presence in strategic industries like semiconductors and like clean energy.”
- “He believes it’s unacceptable as I do to be completely dependent on China in these areas,” she said.
During a recent visit to China, Yellen warned about overcapacity in the world’s second biggest economy -- risking a flood of below-cost goods in the global market.
The Biden administration fears that overproduction could deal a blow to burgeoning US industries, especially in green tech.
The Biden administration fears that overproduction could deal a blow to burgeoning US industries, especially in green tech. . .
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