Biden's new tariffs on China explained
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- Опубликовано: 16 май 2024
- The tariffs will be phased in over the next three years, officials said. Those that take effect in 2024 include EVs and EV batteries, along with solar cells, syringes, needles, steel and aluminum and more. Some would not take effect until 2026.
The election-year tariffs could increase friction between the world’s two largest economies. China’s foreign ministry said in a statement that the tariffs “will seriously affect the atmosphere of bilateral cooperation.”
Administration officials say they don’t expect the tariffs to significantly escalate tensions between the two counties, although China is likely to explore ways to respond to the new taxes on its products.
So... What Trump did... Except Trump didn't make it cheaper in the US.
Hopefully the balanced approach works. Because American manufacturing has been in a bad spot for the last few decades.
No, when T did it, it was bad, but when B does it, it's fine, because: reasons.
@@kingace6186it was getting better 4 years ago
Trump did not do jack shit in office except giving himself a good tax cut. Trump was the guy that said he liked Xi and the Chinese since they were cool to him and bought hes stuff and rented hes hotels.
Trump would be traitor to the West if he could get away with it.
@@jim2498 you mean during covid, where companies had to offer 1000s of dollars in hiring incentives becuase they couldn't fill the workforce becuase the number of people who had jobs kinda either quit due to a lack of insurance, died, or got fired for taking time off becuase of covid?
Those three seconds of youbplaying a villain was amazing lol. Great acting bro
I think it would be great to reduce the overconsumption that America engages in. As bad as the average American has it, people working in sweatshops have it much worse. This plan wouldn't help that part though
In fact it would do the opposite. Now those people in sweatshop are out of a job. The alternative to sweatshop isn't a nice 9-5 it's working as a field hand for many.
My pew pew says no
I don't get it. What does your pew pew have to do with this conversation? 😂
@@boogiel3853in other words, you're not forcing me to do anything. Whatever my labor gets me in value is what I'll freely spend. But I guess Democrats are about tariff'ing things that save the planet so I have no idea what they stand for.
How would it not? Less reliance on China means less reliance on Chinese sweatshops. And increased domestic manufacturing = less outsourcing to sweatshops in Vietnam or Mexico.
build it in America. American's work
U must be new, that not how it works
We have some half-assed EV's on the market with bills set to only have EV's for sale in certain states.
What half assed EVs? Lol. Let me tell you I own a 1970 K30 crew cab dually with a 545 and a 800 cfm thunder series carb. It's a monster I love it.
But there is not currently a better passenger vehicle or Truck on the road in the weight class of a Tesla... it's superior in EVERY single way. Does charging most of the way take 30 min? Sure take a piss and grab a bite if your on a long haul, but day in and out commuting nothing touches a Tesla 🤷♂️
But go watch battery explosion videos from another ev from 15 years ago. Lol
Yall sound like the people who thoughts cars were dumb and horses would always win, bc grass was free and more easily available 🤦♂️
@@BZEDAKING the cyber truck?
You dont even know what side I'm on based on my comment
Are you talking the Chinese EVs. Because they make Teslas look like NASA's rockets.
@@MxSpikeSpiegelxM Really bro? That's such a nonissue. Cyber Truck is a meme at this point. We are talking REAL EVs.
@@BZEDAKINGev takes way over 30 minutes.
aren’t chinese EVs known to spontaneously explode? who in their right mind are buying these?
Chain manipulation? Americans are also heavily subsidizing their industries
As much as china? Does the US do intellectual property theft as much as china? I'm not sure for either but I suspect no.
That's not what we are talking about. Supply chain manipulations means making crappy cheap goods and flooding the market with them.
Yh finally Americans are finally waking up to the reality of decades of Chinese subsidies favouring their businesses. Now they must do the same to compete
Subsidies are great if used well but thats not what hes saying is bad.
@@kingace6186let the consumer decide if its crappy or not, don't go full facist
That sounds just like what Trump did at the end of his term?
Kind of, except Trump didnt help our side of the story. Biden did. Making it cheaper to do here makes something like this actually function as intended.
So whereas Trump made it difficult to get cheap EVs from China, Biden makes it easier to get cheap EVs from the USA.
Sounds like a small difference, but has a huge impact.
@@D_Quinn agreed, this means more jobs from americans, makes it so china can't flood the market with cheep EVs that are also poorly made and prevents them from gathering more information on our country.
@@TheKillerman3333 do you think there will be entry level positions in this new wave of green hiring due to the tarrifs
@@hotshot-te9xw yes, there already being filled, and applied for. new jobs for opening possitions are being created as we speak. This keeps jobs in america instead of outsourcing.
@TheKillerman3333 holy shit I should apply I've been looking for work and it would be awesome to actually have my labor contribute to something positive
Protectionism is at the end of the day in America's DNA
I love these videos they are well done and cater to a younger audience often hit with disinformation
Lol these tariffs brought to you by American Oil.
It's so obvious yet I had to scroll 2 minutes to find a comment mentioning that
i meann its not like we want chinese evs
Great now repeal the chicken tax and get rid of the CAFE standards so it's easier to get smaller light duty vehicles and trucks.
Chinese ev’s specifically have been known to have lots of issues
No they’re not.
@@fieryscorpion CCP spotted
Says who
@fieryscorpion maybe the 10 byd dealerships that have burnt down
@chatter4427 maybe the 10 byd dealerships that have burnt down
I swear every time I check my subscriptions there's nothing from this channel, then I see a recent video in my recommendations and go back to check and it's there again
Tariffs are hard to balance
This will motivate Americans to buy from American owned businesses!
MADE IN AMERICA 🇺🇲
They have done this before when the country had just gained independence to become less dependent on british goods, maybe this could make us a more self-sufficient country like it did all those years ago.
So where money goes is more important then saving the planet? So this isn't really about saving the planet then...
As far as saving the planet this is a neutral move, unless you consider the impact of less shipping from China to US. WWe will just get EV and solar panels from somewhere else, as well as all the other goods such as syringes and numerous others that are getting tariffs.
EVs are getting a bad rap, despite how cheep you can make and sell them. you can get an EV made in american and sold in america for about 500 but the range is as far as you are able to make it go.
The type of EV i am talking about is pedal assisted bikes. Most americans dont need to travel over 100 miles a day, so one of these could easiy replace their veihicle and decrease their monthly costs by thousands a year in gas and insurance.
Really liking this style
Are y’all going to cover the situation in Houston right now?
And who will actually pay the taxes on it? The consumer. Not the company. Intsead of just making manufactures make things here in the use, they raise taxes. I swear this is the only thing politicans know how to do.
Actually, that isn't entirely correct. this is designed to make america less self sufficient on china, and make america have more jobs.
It's crazy how I saw a lotta hype for the Chinese Yangwang E9 EV car and then days later Biden puts these tarrifs on lol
I wonder what China will add tariffs to in return..🤔
What Chinese branded EVs have ever even been available in the US?
BYD
They have a viable product that could well be sold here at some point. As it stands, it would be affordable, but if the tariffs go up, then it wouldn’t.
Polestar
@@TrashcanTroubadourit isn't about them having a viable product. It's about making the bleeding hearts feel good about "saving the planet" only when politicians allow it and how they allow it.
@@TrashcanTroubadourwhy tariff something that could save the planet?
I personally feel like goods should be taxed based on how ethically they're sourced, and if they break any specific guidelines, like bootlegging. This may incentivize people to treat their workers better...or to lie about it.
The whole point of going "green" is to force you to give your money to companies they (their family and friends) own and not some chinese
Actually the "going green" movement has been going on unnoticed for roughly a hundred years, but only in the last 30 have people started to notice it.
Grocery bags have gotten thinner, products have gotten lighter, even the money we spend has changed in quality materials. All of these are meant to cut costs and save "green"
a solar panel saves you money on electricity, but also that means the power company has to spend less on buying fuel to power their generators.
Going green goes both ways.
protectionism like this frequently has the negative effect of falling behind rather than bringing the industrial base to world competitiveness and makes your domestic products worse creating black markets in some cases. I'm for tariffs if the imported good is polluting for example. The question is how is it so cheap there and do we want to do that here? We need not just to play catch up with TSMC and address costs that make us uncompetitive for electronics but create a path from research to production for future technologies. China is playing financial games. We do too. I don't fully grasp them all but it would be nice to have as simple and clear system comparison as possible.
FINALLY! This is long overdue
I do think more things need to be made here again because more jobs. But something like this needs to happen very slowly because of how much we get from China. Especially with the current state of the economy it would need to be as slow as possible.
Correct me if im wrong though, looking things up is hard as my dad has a lot of things blocked.
THANK YOU BIDEN!! Before, China was able to sell 0 EVs, and now, theyll only be able to sell 0 EVs. Truly a do-nothing bill that will have 0 impact
I'm not a huge fan of tariffs but just because china isn't currently selling many evs in the US doesn't mean they won't in the future. Their EVs are stupid cheap and will eventually make it to the US market.
@@TheFireGiver I'm saying that there was already a tariff on Chinese EVs. This is only a political stunt to try and regain some public support after Biden mishandled the shit out of the ongoing genocide
@@TheFireGiver Lol, guess from where the majority of EV batteries come from? BYD already dethroned Tesla.
Why do you think they couldn't sell here, in the first place, genius? This tariff war didn't stop this year.
China makes ev's, but you don't want to buy one since they keep blowing up
I thought Trump was the one who liked Reaganomics...
Except China just has it made in Mexico and imports from there where there are no tariffs.
Those cars catch fire... Im not sure why they are doing solar cells too but im guessing because they are literally building a navy to take control of Taiwan. (Alot of microchips come from there)
I don't know why they always focus on the energy sector, I'm fine with tariffs but they should focus on industries that we want here or industries that are the most guilty of bad business. Maybe phone manufacturers and software.
Already too far behind
As long as the government incentives affordable domestic manufacturing, this could be great for American industries. Reasonable protectionism is very much needed.
On the other hand, those goods are likely going to eventually overwhelm local business / business from non geo-political enemies over here.
Which is bad in the long run. Can't buy things without a job/income.
I don't get it. You can no longer get a tax credit for purchasing Chinese EV. Why do you also need a tariff?
They are sold at a huge loss with Chinese government subsidies. Dumping their cheap cars on the US market will hurt domestic manufacturers, resulting in corporate bankruptcy. He is probably doing this to keep US car manufacturing jobs. This isn't nearly as much of a problem in the US compared to the EU though.
@@ritokazoriv dont forget the possible spyware, and safety shortcuts too.
They tried it in the UK, most of them are just sitting at the ports
I like the idea but I still don’t think that’s the way to go. The bottom 66% of Americans shouldn’t feel anything change and really only the people with high enough income to afford these things should. I better not feel it but the doctors in my family should
Easy fix impose the tax to the consumer directly, business will just shift the cost over to all of their products. Make the consumer see it.
How does this contrast with Trump's tariffs?
Will not work.
man I thought you were gonna talk how the EVs are bombs
You neglected to mention that Chinese electric vehicles are of laughable quality and are constantly exploding or falling apart, a fact that the Chinese government actively tries to suppress because they own the industry and how could anything they oversee possibly be flawed?
If that happens in the west china wouldn't be able to suppress those news
So why is he doing it now. He said this was bad and xenophobic back in 2021.
Have... Have you seen how Chinese EVs are? Yeah NOPE. Nooooo thank you. I honestly dont see not getting super cheap items from china an issue, i tend to spend the extra little bit so i can just get a quality item that lasts.
Nobody should be happy with the ability for Americans to bypass the work of Americans and get cheap Chinese products instead
Yes, allowing more people to have access to affordable goods which improve their quality of life is obviously bad. We should clearly want only American made goods produced without the threat of competition because we've seen how that always makes things better and cheaper for all Americans.
If Americans wants to produce these goods and were able to do so efficiently and cost effectively they would be. With the high standard of living that Americans demand we're never going to be a country that excels at labor intensive industries. The few that we have are increasingly moving towards automation.
This tariff is on Chinese companies.
American companies will still be able to use low paid labor overseas with no issues.
@@vladimirzhivanevskaya5474 so it's posturing, really
Lets be real, Chinese electric vehicles are just "combustion" engines
Wow Trump and Biden do the same thing.
The Chinese EVs are lower quality and built cheaper, which introduced in the US would greatly effect the EVs produced in the US. We want US workers to continue working and not risk threat from an outside country. America wants manufacturing jobs but if we allow Chinese automakers into the market, then it'll severely hurt workers. You can look up EU countries that have introduced the Chinese cars to their market and how they are cheap and reflected by their prices.
Those cars explode on a quadruple rate to that Samsung Galaxy and the Pinto
or a Tesla
Biden doing a lil bit of protectionism. I don’t get the solar panel tariff, but I do for the EV one. Chinese EVs are highly known for being safety hazards and very unreliable. Our market is already saturated with choices for EVs.
After decades of outsourcing industries, this country NEEDS some (reasonable) protectionism.
It is way more than just those two items it is literally hundreds if not thousands, it is all to make us not as reliant on China.
If they're so bad, then why the tariffs? We already have standards manufacturers have to meet to sell street legal cars here.
The solar panel tariff is the same thing as the car tariff; weakening competition for American companies, which makes things more expensive for the consumer.
@@vladimirzhivanevskaya5474 my experience is in the pharm industry where the tarrifs are also going into place. China has made it exceedingly difficult for us to audit them and enforce our standards.
I like what an Uruguayan commentator once said about Latin America: we should let our countries export to each other what they're good at. Let's face it China is making reliable evs and solar cells
not entirely. based on the number of ones that have been made using essentially slae labor, and shortcuts many would need to be recalled due to dangerous equipment such as explosive batteries. There are a number of cases of chinese evs malfunctioning at the detriment of the user.
Swear I need a strong independent. This is getting ridiculous on both sides!
Trump said hed do worse so... Easy pick
China does have some qutionable buissness practices but its the bigges country at selling random junk for cheap
For non americans, what's an EV? Effort Value?
Electric Vehicle
Biden W?
I hate the democrat establishment bruh
Trump did literally the same thing.
They do that with Chinese EVs. They sell them for around $3,000.00 USD and then by the time they get here, it's $18,000.00 to $21,000.00 or more. May God bless us all, in Christ Yeshua's name I pray, Amen 😇
Considering how often Chinese EV's burst into flame it's more of a safty tax than a teriff
Wtf??? I was expecting things that are unimportant and wasteful like the bajillion of knockoff garbage from Temu and those types of companies. Not something actually important and useful like green energy products. This just hurts environmentalism for no reason.
isnt this basically the same thing the british did to the colonies? it didnt end well for the british ngl
China is not much of a threat. Their production quality is shoddy. Lithium batteries are difficult to do right.. just ask Chevy Bolt owners. Cheap Chinese EVs are likely to burn up and ruin their reputation.
The Chinese products affect the sales of American companies that give generous "donations" to Joe and his buddies in Congress.
Joe isn't critical of Chinese business practices American companies are
Dementia Donnie is affecting your brain.
Bingo!!!! It's almost like having a career politician as president is a bad idea. Caring for the planet is a Democrat position, but obviously Democrats only care about the planet if they can profit off it.
You have no vision. China and most East Asia are facing a demographic collapse. Why have a trade relationship with a country that does not have enough consumers to buy your stuff and just steals IP? Riddle me that
Subsidize domestic purchases from US suppliers. That's a realistic alternative. Tariffs are being used is because of China's behavior. Can you understand?
imagine how different this report would be were it President Trump who was wanting to impose a tariff.
Im no fan of tariffs generally and I am suspicious of these tariffs. Thay being said you are probably right. The difference is I trust Biden that he's actually thought about this. It's certainly political but at least theres a coherent strategy there. With trump is would be down to if he got bribed enough by china or if Xi didn't send him a birthday card or something.
Then the people in the comments section would claim trump wants to destroy the planet yet I see none making that claim with biden
@@keefn8 Agreed.
@@keefn8check the comments again, Biden is getting crap for not prioritizing the environment.
This is so shortsighted
Huh a temp inflation relief right before elections…
How much are you getting paid for this BS story
And here i thought he couldn't kill the middle class anymore
You are the 5th person I've seen make a video on this and not say why he is actually doing the tarrifs instead insert your own opinion which in a sense is misinformation. You couldn't even mention what they are doing in Mexico ffs
I feel very safe with not having chinese EVs in the US.
We spent a lot of money trying to set up those industries here. Now, China is going to flood the US with inexpensive goods. I'm not saying tariff is good idea.
So much for the free market nerds i guess xD USA be accepting defeat
sweatshops
we need to make this stuff in the USA.. why support the communist china party... both parties agree that we need to be self-sufficient here.
China is the best country.
Long Live Chairman Xi
Glad to know the washpost is a CCP owned company. Pooh got his little friends lock stepping along.
Google says
“The Washington Post is the largest and oldest newspaper in Washington, D.C. It is now part of Nash Holdings, owned by Jeff Bezos.”
Tell me you didnt watch the short without telling me you didnt watch the short.