The Biden administration seems to see cracking down on the Chinese shipbuilding industry as a panacea for struggling US shipyards. However, isn’t the idea of forcing China to take the medicine for what ails the US further evidence of the bleak future of the American shipbuilding sector?
SOURCE / GT VOICE
By Global Times Published: May 13, 2021 10:25 PM
Photo: VCGThe Biden administration appears to be considering changing the US much-maligned tariff policy that has pushed the country into trade conflicts with all of its major trading partners and inflicted grave damage on US consumers and businesses.
After being grilled by US Senators over the damages caused by the tariffs during a hearing on Wednesday, US Trade Representative Katherine Tai said that the administration was seeking better trade remedy than section 232 of the 1962 Trade Expansion Act, which former President Donald Trump used to impose tariffs on steel and aluminum imports from China and other economies.