Why Biden wants to raise tariffs on Chinese steel

News Snapshot:

President Biden called for tripling the tariff rate on steel and aluminum imports from China Monday, a move that reflects simmering geopolitical tensions with the world’s top steel producer as well as an increasingly protectionist economic posture ahead of the 2024 election. The move also echoes the trade war with China undertaken by former President Trump, the latest point of continuity in trade policy between the previous president and Biden, who kept many of his predecessor’s tariffs on Chinese goods in place. Biden hit the campaign trail Wednesday in Pennsylvania — a battleground state for 2024 and a historical home...