President Joe Biden is surrendering to China. Donald Trump was obviously right.
“When President Joe Biden meets with European leaders next week, he will commit to dropping tariffs protecting U.S. steel and aluminum and resolving other trade disputes this summer,” reports Breitbart News.
Breitbart noted China’s impact on the steel market:
The Trump administration put in place tariffs on steel and aluminum that it said were necessary to prevent the U.S. from becoming dependent on foreign metals, a situation that an extensive government review said would be a threat to national security. China’s share of global crude steel production increased from 53.3 percent in 2019 to 56.5 percent in 2020. Although the U.S. imports little to no steel from China directly, China’s overproduction depresses prices in the global market.
While the final decision is not official yet, it’s clear Biden is not interested in maintaining a superior position to China.
To read more about this story, click here.