U.S. trade groups and economists are sounding the alarm as the Biden administration moves to hike tariffs on Chinese imports like EVs, batteries, and semiconductors. Critics argue the move could backfire, raising prices for consumers and slowing green energy progress. 🌱⚡
\"These tariffs hurt American companies and families,\" said Craig Allen of the U.S.-China Business Council, calling the policy a \"lose-lose\" during inflation. Even climate experts warn higher costs for solar tech and batteries could delay the U.S. clean energy transition. 🌍🔋
Columbia University’s Jeffrey Sachs slammed the tariffs as a \"violation of WTO rules,\" while political analysts say the move is motivated by election-year pressure to appear tough on China. 🗳️🇨🇳
The IMF added fuel to the fire, warning that trade restrictions risk \"fragmenting global supply chains\" and triggering retaliation. Tech alliance leader Ken Montgomery stressed: \"Tariffs make U.S. businesses less competitive.\" 💻📉
With magnesium imports from China essential for U.S. infrastructure, companies like Newport Metals say tariffs are effectively a tax on American consumers. Will Washington rethink its strategy? For now, tensions keep rising. 🔥🇺🇸
