Washington: A decision by America has ruined all four corners of China. US President Joe Biden’s decision has given a big blow to China. In fact, US President Joe Biden has imposed heavy duties on Chinese electric vehicles, batteries, steel, solar cells and aluminum. Due to this, Chinese companies have got a strong shock. Biden said this step will ensure that unfair trade practices do not affect American workers.
Let us tell you that 100 percent duty has been imposed on electric vehicles coming from China, 50 percent duty on semiconductors and 25 percent duty on every electric vehicle battery. In his address to the nation from the Rose Garden of the White House, Biden said the US can continue to buy any type of car it wants, “but we will never allow China to unfairly control these car markets.” .
Biden lashed out against China
President Biden said, “I want fair competition with China, not conflict.” We are in a stronger position than anyone else to win the 21st century economic competition against China.” Biden alleged that over the years, the Chinese government has invested the country’s money in Chinese companies across a range of industries. have put. Steel and aluminium, semiconductors, electric vehicles, solar panels and even critical health products like gloves and masks. He said China heavily subsidized all these products, prompting Chinese companies to produce far more than the rest of the world.
Then bringing (dumping) excess products onto the market at unreasonably low prices, driving other manufacturers around the world out of business. Biden said prices are unfairly low because Chinese companies don’t have to worry about profits because the Chinese government subsidizes them. (Language)
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