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US Trade Representative Katherine Tai talks about Biden administration's approach to trade with China, discussing the impact of raised tariffs on Chinese imports. Vox's Dylan Matthews adds insights on the complexities of international trade relations and avoiding losing industries to foreign monopolies.
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Quick takeaways
- President Biden raised tariffs on Chinese imports to address unfair trade practices, aiming for negotiation leverage.
- Biden administration shifts focus to prioritize workers and domestic industries while balancing free trade principles.
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The Trade War Between the US and China
President Trump initiated a trade war with China in 2018, imposing tariffs on Chinese goods that led to increased prices on apparel, some food products, and even American flags. China retaliated, particularly impacting American farmers. Despite initial criticism, President Biden maintained most of these tariffs upon taking office and further raised them on certain products, aligning with a strategy focused on addressing unfair trade practices.
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