FT News Briefing
Swamp Notes: Trading tariffs for votes
May 18, 2024
Aime Williams and Brooke Masters dive into Biden's surprising tariff decisions aimed at China, revealing their electoral implications. They discuss how tariffs on electric vehicles may protect jobs yet impact consumer prices in the lead-up to the 2024 election. The discussion also highlights America's preference for domestically-made products and the unexpected political symbolism found in New York's rat control initiative, ultimately reflecting broader urban management challenges.
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Quick takeaways
- Biden's tariffs on Chinese clean tech goods aim to protect US jobs and industry competitiveness against Chinese counterparts.
- Tariffs on Chinese EVs and clean energy imports prioritize job creation and domestic industry support, appealing to swing state voters.
Deep dives
Biden Administration's Tariff Escalation on Chinese Goods
President Joe Biden announced significant increases in tariffs on a variety of clean energy imports from China, including electric vehicles (EVs), Chinese chips, steel, and aluminum. Retaining and expanding on Donald Trump's tariffs, Biden aims to protect the U.S. electric vehicle market from Chinese competitors offering cheaper EVs that could undermine domestic manufacturers. The decision is driven by the need to support American jobs, particularly in states like Michigan and Pennsylvania, where the auto industry and unions hold significant influence.
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