What do Biden's new China tariffs mean for the economy?
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- Опубліковано 13 тра 2024
- The White House announced new tariffs on Chinese imports Tuesday as part of an effort to protect U.S. businesses. William Reinsch, senior adviser at the Center for Strategic and International Studies, joins CBS News to assess the policy changes.
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This administration is a joke.
Translation: this protects American corporates but you the people will have to pay more for everything
😂😂😂 how this good for the people?
It's good for Biden. That's it.
Dumb Dumb Biden 😊😊😊😊😊
Tariffs is a tax on american. American consumers pay more for tariffs not China.
This is a BS because US is not able to complete…..
If the Fed subsidies their respective projects to the level of which China you’re saying the US won’t be able to compete?
@@Ramesh98575 But US spent all the money in wars….despite pushing the economic!
Higher prices
It is really hard to openly admit that we have failed. Sanctions and higher tariffs are the only tools left.
it means higher inflation in US, it's that simple
There is no over capacity if there is a willing buyer, it is called supply and demand, a core principle of Capitalism.
they will never tell us the truth
The tariffs will create an artificial environment which will raise the cost of living for Americans, and make these American industries uncompetitive to the rest of the world.
almost everything is artificially hijacked now, the rules are wrapped and bent over.
Fun Fact: when China is making Shoes, coffee makers and kitchen knives, US never complained about “overcapacity”
Our healthcare insurance is going up. Thank you Joe Biden
It surely not work because tariffs hit the buyers, mostly the regular joes.
Highway robbery by Biden and his goons.
It means the US citizen PAYS ! LOL!
Sad but true
Don't expect an explanation anytime soon.
U S A … Historical moment …. Bending the knee and admitting by Tariffs that it’s impossible to compete with China.
Not the issue. There are security issues if domestic auto manufacturing goes under. There are supply chain issues. (Remember the pandemic?)
There are geo political considerations if one company takes over the market. The same would be true for China.
NOT about competition. USA can compete. There's more to this than cheap evs.
@@rxonmymind8362 Really? Apparently, TSMC said it will cost more to have chips manufactured in the US!
@@yunko9369 yes it would but from a national security perspective what's cheaper, a war or cost of a chip?
Lives lost if China invades and we will lose TSMCor pay more for a chip domestically.
@@rxonmymind8362 From a logistic point, yes. But not like you posted:
USA can compete
it shows how RICH a merican are... they are more than happy to buy cars worth $ 50k up
Russian people , Hungarians, and all of their friendly countries enjoying affordable ev cars, cell phones, low insurance rates, they even have 99 cent type of stores. In the ststes we have to be in debt for $50k plus for ev cars
American companies make a lot of money Inside China. They can hit them there too.
Intinya rakyat Amerika akan membeli barang yang mahal. 😂😂
Consumers will pay for it…. Thanks Biden for the wise call!
You should look up the word 'competition', competition is good for the market.
Hint, you can defeat your competition by simply being better.
There, glad to have clarified that for you.
So sad to hear about this. First, when conservatives suggested Chinese tariffs, liberals claimed it was racist but now suddenly they are not? Second, i am a straight white male and American companies do not want me as an employee (based on their DEI programs) or customer (based on their advertising) so i have learned to seek out Chinese and other foreign products instead. Buy Anything But American Made is my new motto.
Biden really wanted to get his own "Thanks Obama" meme, wasn't he? Thanks Biden.
so we could have ev at good price from China but usa saction them. think about this
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Nothing starts until 2026…is he still around? I don’t see any Chinese cars. Does anyone? What tariff? It’s all up in the air like the spy balloon.
I kind of want a Chinese Seagull. It's less than $10,000 and probably just as good as iPhone because they make those too.
That's too bad, cause I've seen what they have and I've seen what we have and I want what they have.
China can simply stop exporting to the US. Then how to replace the Chinese products? But remember whatever the US products are expensive and not competitive. Inflation only gets worse.
great job! US auto makers lobbying
Is there a geopolitical considerations and security issues if US mfg go under because of cheap EVs.
Also supply chain issues.
If we allow one country to dominate the global car market that would be dangerous for everyone. It's not about cheap EVs it's our domestic automakers suppliers still being viable to make aprts for vehicles in the military and government sectors. There's a LOT more than the slap of tarrifs.
It’s about time. If these tariffs are continued two thirds of the product sold in Home Depot and Walmart against China and allow other countries to participate such as Vietnam, India and others. By the way where is the electricity coming from to power all these electric cars ?
Many factories on Vietnam are Chinese owned. They have shifted their manufacturing base there more than a decade ago. As for India, best of luck if you can find replacements for all the tariffed Chinese products.
@3:24 The tRump proposals would be worse. Points often missing is that the Chinese government heavily subsidizes China's EV industry to give it an international advantage. Wages in the Chinese auto industry are lower. And some companies in the Chinese auto-supply chain almost certainly use forced labor, or modern-day slavery. The BYD Seagull costs just $10,000 in China. (Even with a tariff of 100%, it would easily sell here) This year, the U.S. Commerce Department launched an investigation into whether Chinese vehicles' navigation and communication features could spy on Americans.(NPR)
Forced labor? Really? Any source to support your claims.
@@yunko9369 Just search for "Chinese auto-supply chain almost certainly use forced labor" and the top 2024 result is from the Human Rights Watch, which goes into detail. The second 2022 site is from Autoweek that mentioned force labor. The next is 2024 AP News, but my original source was NPR: China makes cheap electric vehicles. Why can't American shoppers buy them? May 6, 2024. Of course the cult eschews Google and instead relies on whatever is parroted in the rightwing echo-chambers but whatever.
Fluff
How just going back to DIY America as it should be ... But that would mean more jobs ..Can't have that ,Right?
China said okay but only until Joes coronation.
It's long over due as these are needed to make products coming into America cost more and in turn this will allow domestic companies to compete. Foreign(china) companies don't do R&D on most items but copy and reproduce and sell back for less cost causing the companies in America which created the products to not be able to compete. This is long over due and more is needed.
If don't do R&D, why even Tesla uses batteries made by CATL?
I i dont think it's good for the economy but i know for sure what it means for Biden's reelection. 1 less vote!
Man, Biden's going to lose SO bad in November.
♟we control the narrative 🕸️
Just in time for election season ... FJB
Gyna
But when Trump did the same thing in 2017 that wasn't a problem with you?. How is that not hypocritical?
China tetap menjual 1000 $ kesananya urusan anda untuk untung berapa atau pajak berapa bukan urusan kami. 😂😂
It is a preemptive measure to protect US economy from predatory chinese products ie EVs, solar panels, etc. A and avoid business closures and rise of unemployment in the US. There should be no political explanation to be advanced by any analyst on this aspect. Accept it as a fact that imports like this chinese products if unchecked will affect local US economy.
Very true...
extremely correct decision since America is law based democratic capitalistic country
Go my hero Biden!! I kinda worship him and love Momala.
What a fantastic way to save American jobs. I love what Biden is doing. I only wish he had started earlier.
Save jobs? All this will do is increase the prices of cars. Are you excited to pay $70k minimum for a car?
@dywang32 cars from China... just about every brand currently offered in the US will not be affected. Matter of fact, their prices might come down when new, quality vehicles enter the market
@@P2B_JC they have no competition now. Why would American legacy automakers willingly lower their prices when you remove the competition? This is basic economics.
@dywang32 there is more than enough competition. Ford, Chevy, Toyota, Nissan, VW, Kia, Hyundai, Honda, and so on. The reason cars aren't more expensive is because of competition. Adding Chinese cars to the mix will only increase competition, and therefore lower prices. Chinese auto makers can stay in China. Keep that Spyware away from my home and my family.
Since when have high tariffs benefitted the country in the long run ?
America can make all Americans buy expensive goods in the short term….but with American wages much higher than elsewhere, how does it encourage industries to relocate to USA ?
It will go to Mexico.
The only good policies he’s had have been from Trump. What’s new.
😅😅😅😅😅😅😅😅😅😅😅😅
tRump isn’t the stable genius you think he is.
The voters for the 45th 46th legitimate and soon to be 47th POTUS TRUMP says it's a good idea, fjb
Bidenonmics, for the economy 76 percent of America thinks the country is headed in the wrong direction. Socialism, Communism is never the right direction.
Correct. It’s always in the left direction.
The dollar Is Communism.
It's the flip flop wasteful democracy over the dollar that's killing its value of existence quick.
😅😅😅😅😅😅😅
I think he invented that word just for us to make fun of absolutely clueless and terrible economic policies. Thanks Biden.
@@normanharrison8215 they were attempting to spark a Reaganomics flashback
เหมาหมดใน6เหมื่อนลาน🤣🤣
America should invest more in warship building u are already out numbered by china they can build 8 warship in 1 year while americans can only build one , it should be address immediately south korea and japan, ha problem in there labor,skilled workers, philippines could coup up with that problem, philippines has a population and it is more cheaper to pay for labor force