We are not big fans of the Trump tariffs (he now says he may raise tariffs by as much as 20%), but as we’ve pointed out in these pages, the Biden administration has kept almost all the tariffs in place and even piled on more. This news came on Friday:
The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to boost protections for strategic industries from China’s state-driven industrial practices.
The U.S. Trade Representative’s office said that many of the tariffs, including a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals, would take effect on Sept. 27.
The Tax Foundation hasn’t updated their tracker yet for this latest round, but their June edition (which we have featured before) already had Biden-Harris trade-war tariffs well ahead of Trump:
Now we have a “trade war” between Trump and the Democrats to see who can out-tariff the other. We’d like to negotiate a ceasefire.