Biden announces new tariffs on Chinese EVs, semiconductors, solar cells and more
Biden announces new tariffs on Chinese EVs, semiconductors, solar cells and more
THANK U FOR PROTECTING ME FROM EVER AFFORDING AN ELECTRIC CAR MR PRESIDENT. I'LL CROSS THAT OFF MY LIST, JUST LIKE "HEALTHCARE" AND "LITERALLY ANY HOME."
US is being seriously outcompeted at its own game by China, and this is it slowly imploding in response. Genuinely think we're on the steep slope of decline of US economic hegemony.
For those who don't want to click the link:
- The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024.
- The tariff rate on semiconductors will increase from 25% to 50% by 2025.
- The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024.
- The tariff rate on lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on battery parts will increase from 7.5% to 25% in 2024.
- The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. The tariff rate for certain other critical minerals will increase from zero to 25% in 2024.
- The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024.
- The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024.
Didn't car companies just announce they were canceling battery orders due to price?
Why are we fucking doing tariffs (╯°□°）╯︵ ┻━┻)
Damn this is actually worse than I thought.
Damn, really trying to catch up to W for the title of "dumbest modern President"
But we NEED ship to shore cranes we don’t have enough [US Flagged] for the construction that’s already underway, most of which was paid for by
Oh. The Joseph Robinette Biden Built Back Better Bill. Huh.
So this will affect like everything that costs money. Cool.
So this will affect like everything that costs money. Cool.
Steel and aluminium going to 25% gonna have excellent effects on any infrastructure construction and maintenance and industrial manufacturing still left in the USA.
Fuck I'm not getting any new electronic devices, aren't I.
This sounds like excellent idea, carry on.
In the last year or two we've finally hit a point in the United States where the price, availability, and reliability of solar assemblies makes solar farms cheaper and more reliable than fossil fuel plants, and where individuals could get solar panels installed in the roof of their home or business for the cost of a used car.
This tariff throws that progress away. So much for the Biden regime's stance that market mechanisms will solve climate change.
It's an absolute terrible move. Subsidies for domestic production are good, but slowing green energy growth is inconceivable.
Why??! Who the hell is this even for?
Domestic producers that don't exist. They think that by doing shit like this manufacturing facilities will spring up out of nowhere. They don't stop to reflect on the fact that the reason china has the capacity it has is because the government built it. But we will never do that here, that would be communism.
Let's set aside the fact that no competent management team would justify a multi billion dollar business case on the back of a tariff that can just as easily be lifted overnight, depending on how polls in Michigan are doing
Seriously, I’m trying to understand why the hell they would do this. It’s like shooting yourself in the foot to spite the shoemaker.
The international supremacy of the US economy relies on dollar hegemony and US imperialist foreign policy. The whole point is to be able to import cheap goods from other countries. If China’s rise is a threat to that then why accelerate the process?
The only rationale I can think of is the Biden admin legitimately thinks the Chinese economy cannot grow without access to the American market and that tariffs have the power to curtail such access. That seems so incredibly naive though for a whole number of reasons. It’s hard to imagine people with that much power are just that obtuse.
For the EV and environmental tech companies based in the US. They'll get to suckle like a leech off climate funds, at the most expensive rate possible.
Why tho?
: "Sorry gen Z, the legacy cities are full! Have fun living in your rural hometown forever! Don't forget to buy a car, it's not like you have a choice anyways!""Fine, well if you insist, can I get this cheap Chinese EV? Least you can do is let me not be cattle for the oil industry."
: "No way! What kind of unamerican freedom-hater are you?"i'm sure this will really give china incentive to cut ties with russia
It's 4D chess, you just don't get it
Deng defeated the amerikan empire in the 70s and the yanks still haven't realized it.
China legitimately outmaneuvered the entire western world. It’s wild to compare the liberalization of their economy vs shock therapy in the USSR.
Look up studies on financialization and cisco systems, this is simply a last ditch attempt to protect shareholders and a shitty system instead of addressing the underlying issue of ripping appart your industries
Basically a later stage of bailing out Silicon Valley Bank
From October 2001 through October 2022, Cisco spent $152.3 billion—95 percent of its net income over the period—on stock buybacks for the purpose of propping up its stock price. These funds wasted in pursuit of “maximizing shareholder value” were on top of the $55.5 billion that Cisco paid out to shareholders in dividends, representing an additional 35 percent of net income.
smh, can't believe Huawei made them do this
thats the one.
US just loves killing whatever is left of their own industry or R&D that rely on those materials and of course the fucking libshits will eat this as a good thing for them somehow.
This kicks the solar industry hard in the balls
There are no domestic panels, certainly not at the scale needed to build what's in progress. Deeply stupid, harmful decision, by our fucking baby brained CHUD president
thank you President Biden for protecting my investment in Kentucky beachfront property!
spoiler
I joke of course. I'll never afford property.
May be able to get some underwater Florida property in the far future 😭
I just put a 100% tariff on decrepit segregationists so I think we’re even
these costs certainly wont be passed to the working class!
Nice "free market" you got there. Real "most green energy president ever"!
@shipwreck@hexbear.net / @Kaplya@hexbear.net curious what your take is on this from the perspective of MMT. Part of Biden's actually intelligent plan? Or a a huge misstep in his advancement of US imperialism?
Protectionism can be good for a country that’s looking to develop domestic productive capacity and minimize foreign imperial influence. The US isn’t doing either of those things. Not an MMT person but I’d wager it’s closer to a misstep.
you want @Droplet@hexbear.net
Neither lol. It’s simply to protect the American bourgeoisie profit margin and fulfill the lobbyist demands. Plain and simple. This is why Biden is going to get re-elected, not by giving in to the demands of the voters, but to the demands of the ruling donor class.
The other user said protectionism can be good for developing your own industries with minimal foreign interference, and that is correct, but the US is never going to re-industrialize.
In other words, if the US ruling class had wanted its subjects to enjoy cheap and environmental friendly transportation, you’d have gotten high speed rails a long time ago.
Trump is ever dumber than those stupid cashiers at Target
Who's the 'he' in 'his tariffs?' Trump's? Is he along China a he?
The tweet is old, from when he was running against Trump. He's talking about Trump's "Trade War with China" in the tweet, contradicting recent policy decisions.
That makes more sense.
