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President Biden announces a series of tariffs on green energy products from China. (lemmy.ml)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 50 points 3 months ago* (last edited 3 months ago) (2 children)

Well, we have targeted a few industries, particularly clean energy, electric vehicles, batteries, renewables, where we’re not trying to dominate the globe and be the only country in the world that supplies these goods.

Janet Yellen

I'm determined to ensure that america leads the world in them

Joe Biden

make up your mind ghouls

[–] [email protected] 41 points 3 months ago (1 children)

This is basically a self imposed embargo that will ensure that we are outside observers to a world that is rapidly transitioning to renewable energy.

[–] [email protected] 25 points 3 months ago

It will also be part of financial handouts to underperforming US tech companies

[–] [email protected] -1 points 3 months ago* (last edited 3 months ago) (2 children)

A tariff on imported goods to USA doesn't affect global market of other countries importing Chinese goods you absolute genius.

[–] [email protected] 7 points 3 months ago

It reduces competition for Chinese goods, making them cheaper and more accessible to less rich countries.

[–] [email protected] 3 points 3 months ago

All those cars and solar panels that Chinese companies counted on selling in the US must go somewhere. Every other country in the world (excluding the EU, although to a lesser extent than the US) isn't hell-bent on sanctioning China, their production will be just redirected elsewhere.

And since the US, biggest net importer in the world, just stopped... importing, there will be more goods sought after by less money, AKA more supply (old supply + goods that can't profitably be sold in the US anymore) but less demand (since the US just passed these new tariffs) and as you know, this is gonna make prices fall, maybe not a drastic fall but still.