What Biden's tariffs on China mean for the US economy and the election

The Biden administration has imposed tariffs on $18 billion worth of annual imports from China, including semiconductors, electric vehicles, steel, and other sectors. With growing trade tensions between China and the United States, this move raises questions about its potential impact on the upcoming election.
According to Yahoo Finance's Senior Columnist Rick Newman, the tariffs "do fit with what Biden has been doing his whole term, which is incentivizing the development of certain industries within the United States." He explains that the tariffs are intended to make those goods originating from China more expensive, thereby promoting domestic manufacturing of these products.

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