U.S. Trade Representative Katherine Tai on raising China tariffs
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- Опубліковано 13 тра 2024
- U.S. Trade Representative Katherine Tai joins CNBC's 'Squawk Box' to discuss why the Biden administration announced new tariff rates on Chinese imports.
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I like the language they use. Unfair, protect, American, defend, trade practises, etc. Textbook buzzwords when lying to the public.
Americans have the freedom to buy expensive products.
😂
LOL.. hate to disappoint you, but the average cost of EVs in the US is down without China.
@@tooltalk no not really . It's due to subsidies from USA GOP as Tesla can't complete
Tariffs for non-exist Chinese EV car in US? what kind of tariff is that?
To raise US car price.
It means china is way ahead and USA is scared of being steamrolled by china and all their EV patents and superior products
Oh but we should be happy ,,,
Elon 🤡 brought us the 100K cyber junk truck .
Actually, if no tariffs you will soon see a lot of Chinese EV cars in the US, as is what is happening right now in some of EU countries. So I think that is a good decision. What I don't understand is the tariff on solar panels, which should benefit the energy savings and US doesn't have much of the production capacity anyway
It's called a pre-emptive strike to discourage export of EVs.
I brought a ford last year. The price of made in America cars are ridiculous expensive and keeps going up. The big three need to stay competitive or will be gone.
Chinese EV is $15K in China. BYD is building a factory in Mexico. Tariff on Mexican cars?
@@davidwong5197 It's actually $10K and they are damn good cars too. The chinese that drove Tesla and BYD, ended up preferring BYD.
Why did you buy it then? You do not make sense
Had a bmw and the lease was expired.
Failed foreign policy, failed economic policy simply a failed state.
Did your mum burn your lunch today or why you so grumpy?
If the US car industry can not compete in the USA with Chinese EVs, it can not compete globally. setting tariffs will only make USA car makers less competitive
GM sells more car in China than US and China sell 0 cars in US. Biden is incompetent.
How about exploiting you so that they can lower prices abroad to compete with China? Drug makers do that!
No cheap goods for American consumers.
They must pay more expensive prices.
Inflation will stay higher for longer.
USA made chips will be expensive as well.
Some Americans will buy Anything. Influenced by media or wants. Some of same products are 60% cheaper in other countries. Unfortunately the amount of stuff I accumulated as an American and rarely used, or held onto in the belief that Magically one day I will use it again is Amazing to other countries
Well done. Welcome hyperinflation to the US. 😂😂😂
LOL.. the average cost of EVs has been going down in the US. And since when did China become so pro-consumer?
@tooltalkvworld using Chinese' daily consumer products. Wdym?
@@irritatedanglosaxon1705 Almost all if not all of the parts and ingredients or related to the final product that you are using comes from China. That is the true reality. This is why almost everything you buy is much cheaper. If not prepare to pay many many times more for almost everything.
I'm living in Asia, and I own a normal saloon car. It's cost me USD 16k, and my country's fuel price is USD 0.44 per litre. I sometimes feel it's hard to maintain my daily expenses. Imagine what it is like to live in America at the expense of fuel consumption. I'm proud and happy not to have been born in the USA.
I see the same comment over and over again. you are a CCP's $0.50 keyboard warrior?
Good luck. This is not gonna hurt China after all and only shows American politicians r desperate
Why is the CCP crying then?
U S A … Historical moment …. Bending the knee and admitting by Tariffs that it’s impossible to compete with China.
So true! Even tariffs protect the US domestic market for a short time, but the US car companies will lose in all other country internationally. They D party can still get their union votes this year, but the US decline is inevitable, and later they will be forced to take the bitter medicine to reform and open the markets under the Chinese terms. 😢
China sells crap steel out of sweat shops in China
This is U.S.'s response to China unfair trade practice of flooding the global market with artificially low priced exports. Anyone who has been paying attention knows China's economy is in a world of hurt. Many factories in China have been closed permanently because of Xi's disastrous zero-covid policy. The ones that are still operating are barely surviving. Trade shows are empty. Manufacturing has been gradually shifting to India. U.S. is doing just fine. China... not so much.
USA loser 🤡
and the fact that China produce 10K more science paper than the US about AI is driving them crazy also.. 😂 thats how the capitalism works, if you can not compete, you die. thats how we drive innovation across the world eh
So who will suffer most, the US consumers. Who benefit most, the US government. Who voted for them, the US people. Who are those people, the US consumers.
Haha, what choice does the consumer has? Hope them Enjoy the inflation
Vote for them? You mean choosing between two buffoons funded by the same group of buffoons who are blind to the needs of the US people and hold the opposite interest?
republican or democrats, both love tariff these days
some money laundering here
@@kenho-wr5ul2rh7m Tariffs go into their pockets, extra income.
@@kenho-wr5ul2rh7m😢
Thumbs up. We learned something the last 25 years.
A desperate move to save US firms
In USA we have freedom to buy expensive stuff
The firms are living good， they just want to exploit more from the people😂
Chinese cars are useless in US circumstances. There’s a reason hybrid cars go up in the US, not EVs
Nope it was Toyota
What exactly are the ARTIFICIAL CHINESE ADVANTAGES ? America sounds like a sore loser to me.. 🙏
The CCP subsidizing chinese companies, manipulating their currency value, and keeping wages low
china's market domination in battery for instance by the Chinese gov't coercive, discriminatory practices,.
@@tooltalk How do we know that for sure sir?
@@SavanaT It's well documented. According to WSJ: ... China requires auto makers to use batteries from one of its approved suppliers if they want to be cleared to mass-produce electric cars and plug-in hybrids and to qualify for subsidies. These suppliers are all Chinese, so such global leaders as South Korea’s LG Chem Ltd and Japan’s Panasonic Corp. are excluded.
@@SavanaT (continued) ... Foreign batteries aren’t officially banned in China, but auto executives say that since 2016 they have been warned by government officials that they must use Chinese batteries in their China-built cars, or face repercussions. That has forced them to spend millions of dollars to redesign cars to work with inferior Chinese batteries, they say.
... “We want to comply, and we have to comply,” said one executive with a foreign car maker. “There’s no other option.”
1. Power Play: How China-Owned Volvo Avoids Beijing’s Battery Rules Car maker is allowed to use high-end foreign technology, while rivals are squeezed into buying local, Trefor Moss, May 17, 2018, WSJ
“Unfair” Chinese trade practices… everything she listed is pure capitalism.
US doesn't have capitalism anymore. Government controls the business. The market is serving political purposes. Let's see how long such anti-capitalism can last.
The CCP subsidizing chinese companies and manipulating their currency value is not pure capitalism
why aren't foreign battery makers allowed in China's EV market?
My comment was deleted.
@@tooltalk Capitalism is died out. Government is controlling the business and market.
Lol BYD EVs with 100% tax is still like $20k
They're junk.
@@user-ll9qk2el4dstill better than Tesla but sure you got the money to spend on overpriced garbage
@@ftu2021Even 200% tax it can still be very competitive😂
@@ftu2021 Tesla doesn't compete in BYD's junk segment.
@@tooltalk they have the same battery, chassis and frame.
the United States lost confidence？
They not lost, because they didn't have. 😂
So it's not about saving the earth 😂😂😂
It is. China is the world's worst polluter.
We lost the race for green energy because we didn't try, and now our politicians are going to double-down on fossil fuels smh
Exactly. Before saving the earth, save my donor's bottom line first!
Not only green energy, but also capitalism. US doesn't have capitalism. US government controls the business. The market is serving the politics. Let see how long such a dangerous processing can last and how long US can last.
@@annan7728 We are literally giving $7,500 tax credits to buy American electric cars, while taxing Chinese ones 100% lol...some free market
If me buying a chinese product makes my country face unemployment then so be it
Keep your politics out of my wallet
Free market . I can buy chinese products.
If my economy is so screwed up that me buying chinese products create issues then tell your ceos to loose their belts
I ll buy more chinese products. To hell with your politics
But you are Chinese.
US is departuring modern technology.
This chinese bot doesn't know english
Sounds like higher prices for consumer's to me just like the last tariff go around since the cost just trickles down just like the economy but they don't mention the put a big bucket underneath it to set prices for their profit margins . Some job creation doesn't mean more people can afford it.
The average cost of EVs went down from $61K in 2022 to $53K in 2023 -- all that without Chinese EVs.. What makes you think they are going to be more expensive?
Why can't be the friend with China?
That makes china powerful
@@jacksmith-mu3eeThen they will be jealous😢
Einstein in his diary "The Travel Diaries of Albert Einstein"(1922) said "I feel very depressed when I think that the Chinese are so good at giving birth and that the whole world will be Chinese in the future." Obama also said in 2010 " if over a billion Chinese citizens have the same living patterns as Australians and Americans do right now then all of us are in for a very miserable time, the planet just can't sustain it". These two people are recognized as the most decent Americans and can represent what Americans really think about the Chinese. The United States believes that China should reduce its population and maintain poverty.
@@pjw3438 China’s population will drop to 1 billion in the next twenty years
because U.S seen China progress quickly and they didn't like it.
Wait, CNBC was slamming Trump for tariffs on Chinese goods. Now tariffs on Chinese goods is a positive?
Love it, great job. It's about time.
Raising prices for consumers. 10% for the Big Guy.
No green Chinese tech for you!😤🫵
Produced dirty with coal powered energy and sub-standard environmental regulations
Just pay American workers $100/hr to produce expensive things nobody wants to buy because of the poor quality, and we will end up like Argentina. Protectionism is always bad on the long run.
Exactly. It's only the MNCs with factories overseas that will do well. Normal folks other than those in finance and real estate will have to move out sooner rather than later.
Then look at how protectionist China is. What are you trying to say? The US is still one of the most open markets for everyone else
This is the reason i stay away from american brands. American products rarely ever justify the over-inflated premium. The world is going to suffer but moreso the American-based small businesses and entrepreneurs.
Thank god I’m staying away from Chinese products whenever I can
Please tell me the force sell or ban on TikTok is not a force tech transfer and IP rob.
Ultimately China has no answer to the US tariffs. The trade imbalance means that no matter what countermeasures the Chinese apply it has to be very targeted. The Chinese simply don't spend enough on US goods to counter-tariff. In any case the US will use the money from the tariffs to subsidize American production. So essentially China can subsidize its producers all it wants, but Chinese tax dollars are just going to be subsidizing American production and American consumption. Prices in America will rise in the short term but start going down as the subsidies kick in.
Lol. We pay the taxes, not the Chinese!!!
@@jojopapa7521 Of course you pay the taxes but the Chinese subsidies that lowered the prices is imputed in the price of the product. They absorb the cost by accepting lower margins. The thing is that your taxes go toward supporting American production. So ultimately the cost of American goods will come down. That's the point. You stop buying cheap chinese crap for american goods at a price subsidized by the tariff.
@@jojopapa7521 Chinese products are cheaper than they should be because of subsidies. The taxes you pay subsidizes American producers. So American will buy less Chinese products and more subsidized American products at a cheaper price. Thanks to the tariffs. The Chinese also pay because the tariff cuts into their margins.
Wow, this is only saving Japanese cars, American cars losing one way or another
US tariffs on China is like King Canute ordering the tide to stop getting his feet wet. Useless and counter productive.
us manufacturing industry lost its competitiveness. It refused to compete with chian
See tariff as a transfer payment from domestic consumers to domestic producers. Will this involuntarily 'investment' payoff?
why wait until now ?
The U.S. has lost confidence in competition.
Asleep at the switch. America has failed to be competitive. There is nothing open about American trade. Just look at sugar. Really.
Incredible 😅
6 months before election... finally c dr tai on cnbc
imported car or even foreign brand cars produced in China is about 3-5 times more expensive than in , lets say the US. So 100% tariff on electric car against China is definitely not enough . It should be 500-1,000% for every thing produced in China, all cars , all products, not just electric.
If you live near the beach, you probably noticed how incoming tides are eroding the beachfront, undercutting the cliff, so severe that houses were lost to crumbling foundation. Despite the best of efforts to install barriers of all designs and manners, they only serve to slow down the inevitable.
Now this is what is happening in the US manufacturing sector. The tariffs are like the barriers to stop the incoming tides, but how long and how much time can you buy before the manufacturing sector is done for?
We can justifiably blame US politics and politicians. There is another factor at play there...US dollars. A strong U$ gives Americans a good living standard, much better than the rest of the world. But it is a double-edge sword...it cuts both sides. A high U$ made the US uncompetitive. O Americans were living a good life while the rest of the world can only look at and admired, but that changed when the rest of the world is catching up and produces goods to sell to the US at very competitive prices, that is what we are seeing now.
Now US politicians are like the rats in rising water...panicking and throwing tariffs and sanctions around just like the scenario of building barriers to stop the rising tides. How long can this last until the US economy crumbles?
I hate to say this, but yeah, yeah and I agree
Tariffs are a disgrace to America
USA is jealous of China
Why?
@@Cha-jq2po This reckless violation of the basic principles and spirit of free trade in the United States over the past two hundred years
Instead of Win win policies, we are headed towards a distopian Thunderdome … two empires enter, one empire leaves
and American politicians wonder why Americans can't afford a house or a car. 🤪
I agree!
Just as fuel prices went up and up after Biden cancelled the Keystone pipeline, we will most likely see a significant increase in the price of domestic EV’s as a result of these tariffs. Whenever you decrease competition, higher consumer costs will quickly follow.
Thanks again Joe!😂😂
I want to see china increase the tariffs for apple and tesla too 😂😂
Who pays those extra money? American people. It makes no sense, to ordinary people. So, high prices are good for the American people.
I wondering, how will life be in the next 1000 years if we do appreciate our efforts as humans to grow, mature and prosper and instead look at each other like a cow to extra more milk without giving anything in return?
I feel protected now. I will pay higher prices. Hahaha.
What happened to free market? Let the Chinese cars in and consumers should decide whether they want them or not.
Chinese reducing inflations ----lol ------- Sure, just done moan about a cost of living crisis.... We're all fine paying high prices... As long as you are part of the mega rich club..
Those tarrifs will only effect american consumers.
It runs deeper. They hit an economic nerve, making other Nations nervous and wary. It won't end well for the US if it keeps on this dangerous path.
conflict of interest, she is Taiwanese.
At least she won't raise the Taiwan flag and protest.
Why conflict of interest? Exactly because she is Taiwanese that should be easy, since the CCP is so unbelievably unpopular there (as it is everywhere with free information flow)
This will help with inflation definitely
A failed govnt hiding its weakness.blames game.
Friedman was right about tariffs. Tariffs are irresponsible, anti free trade, anti capitalist, and stupid no matter what president imposes them.
Why are they in this case? Doesn’t China impose more tariffs on the US than the other way around?
@@Cha-jq2po when china price dumps I'd just as well restrict trade. Over the last ten years China has out tariffed us. In my microeconomics class(I loved macro more, I was taught and then forgot in depth why tariffs are bad for both parties. Inflation is an obvious reason but there are other reasons why tariffs are a lose lose situation.) There's other options.
@@ericlarson7556 so how would you restrict trade without tariffs? Banning the products altogether? I don’t see how that would circumvent the side effects you cite
@@Cha-jq2po we get so much clothes and cheap goods from China and they are not the low cost leader. There is a whole other continent that has cheaper labor AND land. But the US avoids it! I would also rejoin TPP in a heartbeat that was protectionist against China. And I would listen to the experts everyone hates, those darn economists. These are very unpopular policies. But damn I love how effective they are in the long term.
It is a coincidence Elon Musk's pr agent published musk with the exact same opinion as mine the next day. Without specifics of course the public rarely needs to see the details Lol. I have no influence. I am just correct in this educated opinion of mine
"open market systems like ours", ok
Biden: enjoy your last few months as you deserve to go!
You realize that Trump was the guy that started all these tariffs right? And he has said many times that he's gonna do a lot more tariffs if he wins again.
😂If me buying a chinese product makes my country face unemployment then so be it
Keep your politics out of my wallet
Free market . I can buy chinese products.
If my economy is so screwed up that me buying chinese products create issues then tell your ceos to loose their belts
I ll buy more chinese products. To hell with your politics
@@WhatIsThis-zq4hk So you think Biden is Trump's puppy and cannot make his own decisions? True that Trump put tax in the first place, but I also remember back then Democrats were criticizing his policy for increasing consumer's cost. Now Biden has adopted the same policy and wanted to take credit? No better than Trump, or rather, even worse for being such hypocrites
@@jacksmith-mu3ee You sad or something?
Fed will likely be forced to raise rates to counter the inflation created by these tariffs..
Asa consumer I love Chinese good. What’s not to like about inexpensive and high quality products? However as an industrial worker or a small business owner this is the best thing that could have happened. Also in times of stress like during the pandemic or God forbid during a war the unreliability of China as a critical supplier bit us. We can’t afford to be in that position again. Thank you Presidents Biden and Trump. You both hate each other but did the right thing for America!
So you want to make your product more expensive
@@davidwong5197 Cheap products were always the goal in the US and resulted in the rise of China. But for geopolitical reasons there is a realization that the well being of our nation is more important.
@@tvm73836 Well raising tariff on 0.4% of the steel will definitely raise the price across the board. And that is definitely not for the well being of the country. We are better off just to ban Chinese Steel totally. Just decouple and no more drama.
Instead of working harder and improving our products, we Americans prefer to take the lazy route of banning better products from other countries.
This Tai lady: why is it unfair? Cause we said so. Unfair, unfair, unfair!
It is unfair for me to pay more
Spy cars.
Why is her surname "Tai"? That ain't an American surname.
It’s disgusting for US to use a Chinese descendant to against China, and plenty of Taiwanese willing to do. Shame
The problem with letting cheap Chinese EVs into the US is it would destroy US production. And you think we'll thats just capitalism and the way it should work. Except EVs are going to become a very integral part of life (not that I agree with that). And do we really want china being in charge of something so important? If so we should have them make our military equipment too would save of money.
US spent $1T to build a plane that does not work. Paid 80K for a trash can. You want US in charge. Seriously?
If everyone put up walls to block everyone else, and everyone builds only for themselves guess who wins? The country with the biggest population and hence the largest economy of scale. Hint: that ain't the US
Tariff is unfair to those of us who need affordable goods to live… and to work.
Isn't that putting tax on things you don't or can't make are the dumbest thing? Wow....
Damn now i can't even get an affordable new car. They just have to make things unaffordable.
China is currently exporting ZERO EV to the US.
Last year China exported 12,000+ EVs mainly under the name of Polestar. In this year's projection with Geely/Volvo and Polestar, the estimates would have been 100,000+. The world's largest EV producer out of China BYD was targeting over 400, 000 of their EVs in 2025. BYD is the world's third largest producer of hybrid. Last month Toyota incorporated BYD's hybrid design in a couple of their new vehicles. BYD is on track to be the fifth largest vehicle mfg in the world over the next two years since selling EVs to Europe and Australia.
Whatever you think, putting tariffs is not going to look good for anyone or anything.
I am not sure it will work since China is the no 1. EV, and chip market of world. Different from the semiconductor tariff on japan in the 90s.
The government is too old. If this administartion is in the 80, we would still be paying $2000 for a XT
what I want to know is why a Toyota Corolla, better equipped in China is 14KUSD, the same corolla, poorly equipped this time, is 27k usd in US. Forget about Chinese brand cars, can we get Chinese market Toyota so average people can afford a car. Better yet, why is Chevy Malibu 2.0T with 8 spd auto fully equipped with Bose is 18k in China but 30k plus in US?
Isn’t that explain the high inflation rate in USA?
We’re you sleeping the past 5 years? There was a GLOBAL PANDEMIC that disrupted supply chains. That started the inflation and then US corporate greedflation ran with it. That’s where high-prices came from. Tariffs had a small effect under the Trump administration, but it was negligible.
if everything they produced are cheap, or in most cases so much cheaper, maybe those things are not "artificially cheap"
The world is watching 😅
This. Serious steps are bring taken by serious countries. A nation cannot afford to bank on such an unreliable and risky partner.
You cannot continue to sanction and tariff the hell out of Countries and expect others to wait in line. It simply will not work.
Zero shame
God forbid cars become cheap and affordable. Ohhh no that would be terrible.
It's official . China won
Great, let's keep US products anti-competitive for the long run.
My comment is deleted
yes, this is freedom of speech, this is democracy
We only have to deal with this for 6 more months...
You realize that Trump was the guy that started all these tariffs right? And he has said many times that he's gonna do a lot more tariffs if he wins again.
@@WhatIsThis-zq4hk i don't want either of them. Hoping for a revolution come November.
@@dywang32Well that is most certainly not going to happen.
The rust belt was our jobs and tax base outsourced to China that is why we are 31 trillion in debt...And China is building aircraft carriers with our money....
You are outdated. It's now USD 34.5 Trillions and rising even faster. Coming soon will be USD 50 then 100 Trillions.
China pre existed usa by 19300 years
Let’s not forget what killed that: neoliberalism. Brought to you by who? THE REPUBLICANS! Reagan and all POTUS since have adhered to that dystopian ideology.
What’s more important is what China will respond with
How are tariffs and intellectual property theft related? IP theft should result in sanctions, not tariffs. Also, if inflation is too few goods being chased by too much money, wouldn't Chinese products dumping fix inflation?
Is there IP on steel? Really? Wait there's steel worker union
So, it's subsidizing US industry, by removing Chinese competition versus the CCP subsidizing Chinese industry through government funding.
Just a delayed tit-for-tat.
Makes sense to preserve the existence of US auto, steel, solar, and battery industries in the long term, but kinda sucks on pricing in the short term.
What is the CHIPS act? Not a subsidy?
They’re gonna use these tariffs and deposit them into their bank accounts
Nice to see a President REALLY putting America first 🙏
if only he would put AmericaNs first
By making us pay more for everything
Not really. He is forcing Americans to pay more for the already overpriced American made vehicles.
Most put in place by trump lol
Not really. Different set of tariffs with different strategy and focus. But tariffs nonetheless.
China stole our EV tech. Haha.
Yes china stole tech that doesn't exist 😂
YEA, GO FOR THAT. I FULLY SUPPORT THAT INITIATIVE. CHINA SHOULD UNDERSTAND TO NOT MESS WITH THE COUNTRIES THAT FEED THEM.
Wait what? China feeds itself. The US is dependent on China for nearly everything. They are the worlds manufacturing plant.
China best nation
. USA jealous nation
Despite massive outsourcing by US corporations to PRC, PRC government has remained an economic FOE and military FOE! No amount of economic cooperation nor diplomacy will make PRC government an ally of USA or any nation! PRC's diplomacy is coercive and deceptive. PRC's cut-throat trade practices and economic aid/loans to other countries filled with debt traps. Japan's geopolitical conduct, on the other hand, abandoned its imperialistic stance, no territories, practices friendly economic competition, no debt traps, outsourced its massive automobile industry to other countries (USA, Canada, and other countries) to provide employment, and a true ally! Japanese government genuinely protected its people by postponing the Tokyo 2020 Summer Olympics (sabotaged by the covid-19 epidemic) because the Japanese officials listened to its medical experts/people, put down their pride and honor, risked billions of US dollars worth of investments, profits and revenues in order to protect the people of Japan. Did Xi postpone the Beijing Winter Olympics??? NO!
Good job.
Catherine Tai is the only thing chinese we can tolerate on American soil.
You can keep her
@@davidwong5197She is all yours.
Cutoff all trading and diplomatic ties with China
Cash out their US bonds holdings first before talking big😂
In 2022, US companies made $472 billion in revenue from China. Just Starbucks itself has about 7000 stores in China. US companies sold 2.3 million cars in China. If you want to be a donkey, you can say good-bye to all of this.
Amazon is mostly made in China, apple? Intel chips 23 percent profit from China. My made in USA taxa cricket camper is about 3/4 made in China including aluminum. Who is hurting? Econ 101
@@edwardlaw797 absolutely! Not to mention all the US businesses operating in China: KFC, US hotels, Starbucks, US car makers, US pharmaceuticals, etc are making money off China. As we can see from the US cutting off Russia, all these US companies can be easily taken over and operated by locals.
We can’t afford it as a regular tax paying citizen.
Imagine if the Chinese trade representative was a white woman lol
She is American. What's your point?
Take that back unless you are native Americans.
Who will ultimately have to pay for higher prices of goods?? Americans of course. US politicians generally think with their “other head”😅