MNI China Daily Summary: Thursday, July 4

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President Biden To Deliver Remarks On New China Tariffs Shortly

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MNI London: US President Joe Biden is shortly scheduled to deliver remarks from the White House Rose Garden on a new regime of tariffs to be imposed on USD$18 billion of Chinese imports. LIVESTREAM

  • A White House fact sheet outlining the measures can be found here.
  • Commerce Secretary Gina Raimondo said in a statement today: “President Biden is taking decisive action to ensure unfair trade practices do not threaten our competitiveness and economic security, while also strengthening American manufacturing. This is a strategic approach to trade policy that will help protect key U.S. industries, like the clean energy and semiconductor sectors.
  • Raimondo: "We know the PRC’s playbook – we’ve seen their non-market actions on solar and steel – and cannot allow China to undermine U.S. supply chains by flooding the market with artificially cheap products that hurt American businesses and workers.”
  • The New York Times notes: "Mr. Biden’s moves are the latest trade-war escalation from a president who initially pledged to repeal at least some of the Trump tariffs but now refuses to cede any ground to his rival in a tough-on-China appeal to swing voters in the industrial Midwest and beyond."
  • Please see today's edition of the MNI US Daily Brieffor a full roundup of the tariffs and comments from Biden administration officials.
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MNI London: US President Joe Biden is shortly scheduled to deliver remarks from the White House Rose Garden on a new regime of tariffs to be imposed on USD$18 billion of Chinese imports. LIVESTREAM

  • A White House fact sheet outlining the measures can be found here.
  • Commerce Secretary Gina Raimondo said in a statement today: “President Biden is taking decisive action to ensure unfair trade practices do not threaten our competitiveness and economic security, while also strengthening American manufacturing. This is a strategic approach to trade policy that will help protect key U.S. industries, like the clean energy and semiconductor sectors.
  • Raimondo: "We know the PRC’s playbook – we’ve seen their non-market actions on solar and steel – and cannot allow China to undermine U.S. supply chains by flooding the market with artificially cheap products that hurt American businesses and workers.”
  • The New York Times notes: "Mr. Biden’s moves are the latest trade-war escalation from a president who initially pledged to repeal at least some of the Trump tariffs but now refuses to cede any ground to his rival in a tough-on-China appeal to swing voters in the industrial Midwest and beyond."
  • Please see today's edition of the MNI US Daily Brieffor a full roundup of the tariffs and comments from Biden administration officials.