Swamp Notes — Trading tariffs for votes
==========
President Joe Biden announced massive hikes in tariffs on a range of clean energy imports from China, including electric vehicles (EVs), chips, steel, and aluminium. The tariffs are aimed at protecting the US EV industry from cheaper Chinese imports and supporting domestic job growth. However, critics argue that the tariffs will raise costs for consumers, slow down the decarbonization of the US economy, and delay the affordability of EVs for average wage earners. The move is seen as a political strategy by Biden to gain backing from unions and voters in swing states ahead of the 2024 election. The impact of the tariffs is not expected to be felt before the election, but the signaling matters more than the reality. The tariffs also neutralize one of former President Donald Trump's advantages, which was his protectionist stance against China.
#UschinaTrade #Tariffs #ElectricVehicles #JoeBiden #DonaldTrump #UsPresidentialElection
https://www.ft.com/content/cee94f47-5710-44e5-a857-39e470fce1c3
Financial Times /
npub1ey5…tq7p
2024-05-18 06:56:24
Author Public Key
npub1ey55s7y4px7nuw9qq987mhc2lm8qp30xvyrkgqk9p626n78zfcxqw0tq7pPublished at
2024-05-18 06:56:24Event JSON
{
"id": "2dc97273bd565fb9ceb5f73cbb58ce4cfb649593a141d8d5cde76c67bee46736",
"pubkey": "c92948789509bd3e38a0014feddf0afece00c5e661076402c50e95a9f8e24e0c",
"created_at": 1716008184,
"kind": 1,
"tags": [],
"content": "Swamp Notes — Trading tariffs for votes\n==========\n\nPresident Joe Biden announced massive hikes in tariffs on a range of clean energy imports from China, including electric vehicles (EVs), chips, steel, and aluminium. The tariffs are aimed at protecting the US EV industry from cheaper Chinese imports and supporting domestic job growth. However, critics argue that the tariffs will raise costs for consumers, slow down the decarbonization of the US economy, and delay the affordability of EVs for average wage earners. The move is seen as a political strategy by Biden to gain backing from unions and voters in swing states ahead of the 2024 election. The impact of the tariffs is not expected to be felt before the election, but the signaling matters more than the reality. The tariffs also neutralize one of former President Donald Trump's advantages, which was his protectionist stance against China.\n\n#UschinaTrade #Tariffs #ElectricVehicles #JoeBiden #DonaldTrump #UsPresidentialElection\n\nhttps://www.ft.com/content/cee94f47-5710-44e5-a857-39e470fce1c3",
"sig": "4f70e7a20f8f33329cea02473cdfa6598686620f042464305c46f990a83189ce60b71ab57e7e23b7e21d23391109f939bf3ecdb25f20b72eee49253c61067f3b"
}