{"id":2283063,"date":"2024-06-25T09:03:01","date_gmt":"2024-06-25T13:03:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/illinois-trade-company-consumers-will-pay-more-for-bidens-tariffs-on-chinese-goods-washington-examiner\/"},"modified":"2024-06-25T09:07:37","modified_gmt":"2024-06-25T13:07:37","slug":"illinois-trade-company-consumers-will-pay-more-for-bidens-tariffs-on-chinese-goods-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/illinois-trade-company-consumers-will-pay-more-for-bidens-tariffs-on-chinese-goods-washington-examiner\/","title":{"rendered":"Illinois trade company: Consumers will pay more for Biden\u2019s tariffs on Chinese goods &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fillinois-trade-company-consumers-will-pay-more-for-bidens-tariffs-on-chinese-goods-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2283063&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The article discusses the impact of new\u200c tariffs on Chinese imports introduced\u200c by the Biden administration. An <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gas-prices-could-soar-again-as-oils-second-act-is-coming-expert-predicts\/\" title=\"Gas Prices Could Soar Again as \u201cOil\u2019s Second Act\u201d Is Coming, Expert Predicts\">industry expert warns<\/a> that these tariffs will ultimately lead to higher costs for consumers.\u2064 The specific types of\u2062 goods affected by these tariffs include steel, among others. Based on the scenario you described, it appears that\u2064 the new tariffs imposed by the Biden\u200d administration on Chinese imports, including on goods such as steel, are intended to\u200b address \u2064specific economic or trade issues, possibly related to concerns about unfair trade practices or to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/last-operational-blast-furnace-at-us-steels-plant-is-being-extinguished-indefinitely-mass-layoffs-possible\/\" title=\"US Steel's last blast furnace extinguished indefinitely - mass layoffs likely\">support domestic industries<\/a>. The inclusion of \u2062steel in the tariffs might indicate a focus \u200don protecting or bolstering the U.S. steel industry\u200c against what may be considered competitively priced imports.<\/p>\n<p>However, as noted by the industry expert in your summary, these tariffs could have a direct impact on consumer prices. This is typically because\u2064 when import tariffs are imposed, the additional costs incurred by importers tend to be passed on to consumers in the\u2063 form of higher retail \u2063prices. This could affect \u2064not only products directly made of imported steel but also a range of other goods that utilize steel in their production, such as\u2064 automobiles, appliances, and construction\u2063 materials.<\/p>\n<p>The potential rise in costs for\u200c consumers highlights one of the trade-offs in implementing such tariffs.\u200c While\u2064 they may \u200bhelp local industries and \u2062can be\u2063 part of a strategy to negotiate more favorable trade terms, they can also lead to increased prices \u2064for domestic consumers and potential retaliatory actions by the affected trade partners.<\/p>\n<p>It\u2019s essential to monitor how these tariffs will impact \u2062the\u200d broader U.S.\u200c economy, consumer spending, and the overall trade relationship \u200dbetween the U.S.\u200c and China. Further developments might also involve \u2064negotiations that \u2064could lead to adjustments \u2063in \u200cthese tariffs or their eventual removal depending on their impacts and political pressures.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>(The Center Square) \u2013 An industry expert says, in the end, consumers will pay more as a result of Chinese tariffs put in place by the Biden administration. <\/p>\n<p>The administration recently announced a variety of new tariffs on Chinese imports such as steel and aluminum, semiconductors, batteries and medical equipment. U.S. Treasury Secretary Janet Yellen told a news briefing that President Joe Biden\u2019s new tariffs are aimed at protecting American-made <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-climate-agenda-wont-replace-jobs-it-seeks-to-kill-separate-ap-wapo-fact-checks-suggest\/\" title=\"Biden\u2019s Climate Agenda Won\u2019t Replace Jobs It Seeks To Kill, Separate AP, WaPo Fact-Checks Suggest\">electric vehicles<\/a>, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dem-support-for-chinese-forced-labor-sanctions-imperils-bidens-solar-energy-agenda\/\" title=\"Dem Support for Chinese Forced Labor Sanctions Imperils Biden\u2019s Solar Energy Agenda\">solar energy products<\/a> and semiconductors from so-called excess Chinese capacity.<\/p>\n<p>China immediately vowed retaliation. Its commerce ministry said Beijing was opposed to the tariff hikes and would take measures to defend its interests.<\/p>\n<p>\u201cEven though the administration said the tariffs are for China, in the end these 25% tariffs are being paid by the importers who import the products and the cost is just passed down to the consumers,\u201d said Robert Um, National Operations Performance manager with Customs Brokerage at OEC Group in Chicago.  <\/p>\n<p>Other products have risen in price because of tariffs. In a letter sent to Biden in May, major shoe brands, including Nike and Adidas, urged the Biden administration to lift the tariff\u2019s put in place by then President Donald Trump. <\/p>\n<p>Critics have said the EV-related tariffs could slow Biden\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-epa-pick-most-solar-energy-electric-vehicle-parts-come-from-china\/\" title=\"Biden EPA Pick: \u2018Most\u2019 Solar Energy, Electric Vehicle Parts \u2018Come From China\u2019\">green energy agenda<\/a>. The Environmental Protection Agency\u00a0issued tailpipe pollution standards in April designed to drive the share of electric vehicles up from 8% last year to as much as 56% by 2032. Without access to lower-cost batteries and other materials made in China, EVs will be too expensive for mainstream U.S. consumers, automakers have said. <\/p>\n<p>\u201cThis policy will increase costs for consumers, dramatically strain the U.S. electric grid, contribute to more traffic and congestion on roads, undermine our energy independence, and impact every sector of the U.S. economy,\u201d said Rich Moskowitz, general counsel for American Fuel and Petrochemical Manufacturers. <\/p>\n<p>The Illinois Corn Growers Association has joined a coalition of agricultural and oil industry representatives to sue the EPA for what they said is its inequitable and costly electrification of America\u2019s vehicle fleet.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An industry expert predicts that consumers will face higher costs due to new Chinese tariffs imposed by the Biden administration. The tariffs target imports including steel, aluminum, semiconductors, batteries, and medical equipment. U.S. Treasury Secretary Janet Yellen has been involved in these recent announcements<\/p>\n","protected":false},"author":1,"featured_media":2283064,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP20133396432653.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[8891,6413,13991,32587],"class_list":["post-2283063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-consumers","tag-illinois","tag-tariffs","tag-trade-company"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP20133396432653.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2283063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2283063"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2283063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2283064"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2283063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2283063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2283063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}