the president said the Chinese prices were "unfairly low" due to the government subsidising companies "who don't need to worry about making a profit".
"They're cheating," Mr Biden said. "And we've seen the damage here in America."
Socialism is cheat code
If this is cheating then surely you will cut subsidies for big oil and dairy farmers, right??
I was gonna say exactly the same thing. Also american farmers have corn subsidized, which destroys Mexico's corn market. Hypocrites.
That's just the beginning of it. USA pushes every global south country to cut agricultural subsidies on the grounds that they are violations of some WTO agreement. The policy changes that caused the famous year-long farmers' protest in India were supported by the US because they would have significantly cut government aid to farmers and farm owners.
China is cheating by subsidizing products that are beneficial to society instead of giving corporate farms with millions of dollars money to not grow certain crops.
"They're cheating by giving subsidies to people making productive products instead of giving government subsidies to multi millionaires to not grow crops or build "trains, but worse in every possible way"
Just do the same thing if it's working? LMAO
🤣
#1 best method of resurrecting your dead industrial base: cutting off your #1 supply of cheap metals.
look it's 4D chess being played here, we just don't understand because we're dumb tankies
Evil Chinese conspiring to… provide the US with raw materials far below the cost of extraction?
Chinese steel is a security risk!
The Steel got the Spyware in it
China's steeling your data.
China should double their offering price so with tarrifs metal prices go up like 3 to 4 times what they currently are.
Then sell cheap steel to Canada and Mexico so Americans can literally watch their empire fall behind with their own eyes.
Burgerland starts buying steel from their neighbours in that case tho.
Last time Trump got elected he put a bunch of tariffs on those too and put every construction job in the country back 6 months.
Also if they do that China still profits and Canada and Mexico get free money and America pays more for raw materials.
Burgerland will at least be paying a middleman premium in this scenario, though, and it would likely further incentivize industries moving to Mexico. Not that it'd be so simple to just hike the prices for the Yanks (as much as it's deserved) but if things were to move in that direction, all the better. Whatever further erodes the empire is fine by me.
This is so funny, Biden is literally living in the past over half a century ago
America has no more steel industries... there is nothing domestic to protect with these tariffs
US Steel, the last remaining American steel giant literally just got sold to Japan THIS YEAR
Yeah well, elect a dinosaur and this is what you get. US elected offices need age limits more than term limits at this point.
not a high bar to clear, term limits favor capital
Consider term limits. The US Constitution was amended to enforce term limits in direct response to FDR’s popular 12-year presidency (he died in office, going on for 16). As a policy, it is self-evidently quite anti-democratic (robbing the people of a choice), but nevertheless it has been conceptually naturalized to the extent that the 2019 coup against Evo Morales was premised explicitly on the idea that repeated popular electoral victories constituted a form of dictatorship. If rotation was important to avoid corruption or complacency, corporations and supreme courts would institute term limits too. Term limits ensure that in the miraculous scenario that a scrupulous, charismatic, and intelligent individual becomes a rebellious political executive, they won’t be in power long enough to meaningfully challenge the entrenched power of corporate vehicles manned by CEOs with decades of experience. Wolfgang Schäuble, a powerful advocate of austerity policy in Europe, succinctly summarized the extent to which electoral democracy is subordinate: “Elections cannot be allowed to change economic policy.” One Party States and Democratic Centralism are not the result of lack of sophistication or cronyism, they are a proven bulwark that acknowledges that political power will often need to be exerted against the will of Capital, and so the wielders of said power must necessarily undergo a much more serious vetting process than a popularity contest.
This is interesting to consider, but I think it misses the mark a bit and term limits may be more a threat to corporate hegemony than you’d think.
As it stands in the US, politics in DC revolves around legalized bribery in the form of “campaign finance donations.” The longer you continue to give corporate handouts and tax cuts, the more bribe money you get for your campaign for your next term. People like Pelosi, Schumer, Biden, Graham, and McConnell have mastered this game resulting in their lengthy careers in fundraising. The return on investment for this is astounding btw - it’s often 10s of thousands in bribe money to capture a politician, equating to millions or billions in reduced taxation. Anyway, I think with term limits there’s just much less opportunity for these entrenched CEOs to attain a grip of power over lawmakers, and hope that this would result in more motivation for representatives to “do the right thing” and pass laws which benefit their constituents instead of the top 1%.
Much less opportunity is not quite right. Most people who get elected have their price. What you need to do instead is make the bribery illegal. Of course, it is not straightforward to do this when the people making the laws have been bought or promised cushy, high-paying jobs when their term limit is up. As it is shockingly cost-effective, the companies will keep doing it. Long story short, the defense you need is, therefore, the dictatorship of the proletariat, and that defense can only be achieved by a revolution.
This article from yesterday says that Biden will block the merger
President Joe Biden suggested to cheering, unionized steelworkers on Wednesday that his administration would thwart the acquisition of U.S. Steel by a Japanese company
https://apnews.com/article/biden-china-steel-tariffs-union-workers-0399b0450b67086ca86edc43ac45e5e9
next up: metal deficits force closures of the few remaining US manufacturing plants
Hear me out. US bourgeoisie is essentially British aristocrats who knew when to keep quiet and when to speak up. They've been upset since that interview where the Chinese diplomat laughs at the idea that China is in competition with Britain. One or more of them has convinced Biden to increase tariffs to make the Brits feel better – at least they'll be able to say that they compete with the US in steel production.
I'm sure that'll do wonders for the US economy. Sanctions and tariffs only work if your economy is strong and everyone has to trade with you. The US economy is only strong on paper and China absolutely does not have to trade steel with the US. So this is just the US shooting itself in the foot yet again
Exactly, all this does is further convince China to decouple from US, and refocus trade on the BRICS. What US political class consistently fails to understand is that US needs China a hell of a lot more than China needs them.
It's like this meme, but the planet is not destroyed, everyone except west is just fine:
AmeriKKKa the paper eagle
more like house of cards eagle at this point
I’m disgusted by the yellow peril and hypocrisy. I hope to see the US buy the farm sooner than later.
Mr Trump, who called himself "tariff man", has pledged to be even more aggressive on trade should he be re-elected.
Tariff Man, Tariff Man, imposing Tariffs where he can. He strokes his pen, the whole world groans, the cost of living goes up at home. Look out! Here comes Tariff Man!
Mr. President, can you explain in detail how this increase in tariffs will benefit the US economy?
I’m not going to do that for you. I’m just tariffing here.
That's how ye commit economic suicide...
What a fucking loser that KKKumSSKKKin Biden is. He sure is doing great with the economy, more tariffs on China. I mean, the metal companies are so prosperous in AmeriKKKa, in comparison with those ebil commies in China with their metal companies. I hope that AmeriKKKa will fall one day, and be assigned to the future history books.
Death to AmeriKKKa.
spoiler
I was being sarcastic with the economy of AmeriKKKa, fuck them.