The Biden administration is set to unveil a sweeping restructuring of former Pres. Trump’s trademark tariffs on Chinese imports, according to sources familiar with the matter.
The Biden administration is set to unveil a sweeping restructuring of former President Donald Trump’s trademark tariffs on Chinese imports, according to sources familiar with the matter. The announcement, expected as early as next week, would see tariffs dialed up significantly in some industries seen as strategic to the US economy and kept in place or dialed back in others deemed less critical to national security, the sources said.
Americans have paid more than $230 billion to date for tariffs that Trump imposed on imported solar panels, steel and aluminum and Chinese-made goods, according to US Customs and Border Protection. More than half of the duties have been collected during the Biden administration. Strategic importance to the economy, in an election year, also carries political importance.
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