Flush with funds, US factories stare at China challenge
China. That is drawing the attention of President Joe Biden and his aides, who are considering new protectionist measures to make sure American industry can compete against Beijing.
As US factories spin up to produce electric vehicles, semiconductors and solar panels, China is flooding the market with similar goods, often at significantly lower prices. A similar influx is also hitting the European market.
American executives and officials argue that China's actions violate global trade rules. The concerns are spurring new calls in the US and Europe for higher tariffs on Chinese imports, potentially escalating what is already a contentious relationship between China and the West.
The Chinese imports mirror a surge that undercut the Obama administration's efforts to seed domestic solar manufacturing after the 2008 financial crisis and drove some American startups out of business. The administration retaliated with tariffs on solar equipment from China, sparking a dispute at the WTO.
Some Biden officials are concerned that Chinese products could once again threaten the survival of US factories at a moment when the government is spending huge sums to jump-start domestic manufacturing. Administration officials appear likely to raise tariffs on electric vehicles and other strategic goods from China, as part of a review of the levies President Donald Trump imposed on China four years ago, according to people familiar with the matter. That review, which has been underway since Biden took office, could finally conclude in the next few months.
Congress is also agitating for more protections. In a Jan. 5 letter to the Biden administration, bipartisan members of a House
