The Biden administration has sent several signals of a toughening U.S. economic strategy against China, including raising tariffs on Chinese clean energy imports.
"It remains unclear what this relationship will endure in the months and years ahead," Yellen said at a press conference in Beijing on Monday. Biden has been ramping up his economic aggression toward China, as Trump does the same, both vying for American workers' votes.Former President Donald Trump speaks to guests at a rally on April 02, 2024 in Green Bay, Wisconsin.
Rather, Rosen sees tariff hikes as a"stopgap measure" to temporarily rein in overcapacity surges when they happen. He added that the hikes also have political utility by showing voters that"the people currently in power are not asleep at the wheel," when it comes to global economic threats.Tariffs can have unintended economic consequences that end up penalizing American importers and consumers more than they do the intended Chinese exporters.
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