Trade between the United States and China may be taking a new turn. President Biden is calling for a significant increase in tariffs on imported Chinese steel and aluminum. This tariff would go from 7.5 percent to 25 percent. That’s in addition to a separate 25 percent tariff on steel and a ten percent tariff on aluminum that was imposed during the Trump Administration. If realized, China would likely respond similarly to U.S. exports, including U.S. agricultural products.
