The headline continues "...Here's what that might look like." but I'm less interested in the speculation than in the fact the President said such a thing in the first place. From the Yahoo Finance exclusive interview with President Biden, May 14, 2024:
China appears to still be weighing how it will respond to sweeping new tariffs on Chinese imports, but Joe Biden told Yahoo Finance that a retaliation is likely coming.
"I don't think it'll lead to any international conflict or anything like that, but I think they'll probably try to figure out how they can raise tariffs, maybe on products that are unrelated," President Biden said in an exclusive Yahoo Finance interview Tuesday.
The president said he expected the coming trade conflict to be manageable, telling Yahoo Finance Executive Editor Brian Sozzi that China is "way over their skis on this."
The stakes for the US are high, Biden added. He says China's goal is to flood markets with cheap government-underwritten goods as an attempt to "put everybody else out of business and then they take over."
Biden's duties announced Tuesday are set to be quickly felt on a specific range of incoming Chinese goods, from electric vehicles to semiconductors to medical products and more.
But experts say any response from China is likely to look very different. That's because the US sends a much different (and not to mention smaller) basket of goods China's way....****... "The simple fact is that the Chinese are just not buying much from the United States," notes Ashley Craig, a Washington, D.C.-based international trade lawyer....
....MUCH MORE
We introduced Monday's "Biden slaps tariffs on nonexistent Chinese EV imports" with:
I think we're seeing a bit of playacting here....
Something is going on that I don't comprehend. Not that that is anything new.
