What's happened
President Biden has announced plans to triple tariffs on Chinese steel and aluminum imports, as well as launching a trade investigation into China's shipbuilding industry, in an effort to protect American industries from unfair competition.
Why it matters
President Biden's decision to increase tariffs on Chinese steel and aluminum and investigate China's shipbuilding industry is significant as it aims to protect American jobs and industries from the impact of cheap Chinese imports. This move could have implications for the US-China trade relationship and global trade dynamics.
What the papers say
The New York Times highlights Biden's efforts to protect American manufacturing from Chinese competition, while the South China Morning Post emphasizes the potential escalation of the US-China trade war due to these protectionist measures.
How we got here
President Biden's decision to triple tariffs on Chinese steel and aluminum and investigate China's shipbuilding industry is part of his administration's efforts to shield American industries from the effects of cheap Chinese imports. This move follows previous protectionist measures taken by the US government.
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