Protectionist escalation: Europe could be engulfed in economic rivalry between China and the US
The recent tariffs imposed by the US on Chinese electric vehicles have raised concerns about heightened trade tensions and the potential impact on Europe. Economist Agathe Demarais warns of a protectionist escalation that could engulf Europe in the economic rivalry between China and the US. The move to target Chinese clean technologies with tariffs ranging from 25% to 100% marks a significant shift in US trade disputes with China, affecting sectors vital to the US economy. If European nations follow suit and impose tariffs on Chinese electric vehicles, the situation could further escalate, posing challenges for China and consumers alike.
Debate Over Tariffs on Chinese Goods Sparks Controversy
President Trump’s call to raise tariffs on Chinese goods has sparked a heated debate among experts and policymakers. While some argue that tariffs could harm the U.S. economy, others believe they are necessary to counter China’s unfair trade practices. China has been accused of using anticompetitive tactics to gain an unfair advantage over American companies, and imposing tariffs is seen as a way to level the playing field and protect American businesses. The debate over tariffs goes beyond economics, touching on national security and geopolitical influence as the U.S. navigates the challenges posed by China’s aggressive trade practices.
US Soybean Trade Group Urges Higher Tariffs on Chinese Used Cooking Oil
As President Joe Biden prepares for new tariffs on China, the National Oilseed Processors Association is advocating for higher levies on Chinese used cooking oil to protect American biofuels production. Concerns have arisen over imports from China potentially undercutting US crops. The White House has not commented on the potential tariffs, which would be part of broader US trade actions against Chinese goods.