Nine weeks before a presidential election with major implications for global trade, American companies remain as split as ever about whether the tariff barrage the U.S. unleashed against $300 billion of imports from China is punishing their fiercest economic rival or backfiring at home.
In factories and shops around the country, finding complaints about cheaper Chinese competitors is easy — but reaching a consensus on how to combat them is harder. While import taxes offer a protective shield for some businesses, they’re damaging to others, driving up input costs that consumers ultimately will pay for.
In May, the administration of U.S. President Joe Biden proposed modifications to U.S. tariffs on goods from China, including 100% levies on electric vehicles. Those received more than 1,100 public comments and are still under review by the U.S. Trade Representative’s office, which said Friday that it expects to make a final determination in coming days.
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