The vice president announces new tariffs on imports of Chinese goods

Implications of China’s Unfair Trade Practices on American Economy and the Future of the U.S.-China Trade Correspondence

President Biden will announce new tariffs on Chinese imports today. The goods affected include electric vehicles, semiconductors and medical products. The administration says the move is meant to protect key American sectors and adds that China is using unfair trade practices. Biden will also keep in place the tariffs that former President Donald Trump placed on China during his presidency.

The Treasury Secretary said that she had raised her concerns about cheap Chinese imports during her trip to Beijing. She said the new tariffs are necessary to protect American workers and companies from a flood of unfairly traded products.

The move comes as Biden is pushing to implement 3 pieces of legislation that contain hundreds of billion of subsidies to boost the domestic manufacturing and clean energy sectors, as well as a presidential election where trade and jobs will be an issue.

“We know China’s unfair practices have harmed communities in Michigan and Pennsylvania and around the country that are now having the opportunity to come back due to President Biden’s investment agenda,” Lael Brainard, Biden’s top economic adviser, told reporters.

“One of the challenges is once tariffs have been imposed, it is quite difficult politically to reduce them — because the affected industry tends to get used to them, like them, operate with them as baked into their plans,” said Michael Froman, who was U.S. Trade Representative during the Obama administration.

The White House tried to distinguish itself from the other side. They said that comments about targeting Chinese cars made by Trump in rallies would cause consumer prices to go up and that he would broaden tariffs on imports if he won the election.

The White House stated that the risk of retaliation from China was not a factor, and that the issues have been discussed during meetings of top U.S. and Chinese officials.

Bloomberg Up First: Biden to announce new Chinese tariffs; Michael Cohen returns to the stand: The case of Stormy Daniels and Trump’s alleged affair

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U.S. Secretary of State Antony Blinken arrived in Kyiv today. The unannounced visit comes less than a month after Congress passed a $60 billion aid package for Ukraine. The US is going to emphasize it’s commitment toUkraine in a meeting with the President of that country. Ukrainian troops are fighting to repel a Russian attack on the border.

Michael Cohen, the key prosecution witness in Trump’s hush-money case, will undergo cross-examination today as he returns to the stand in New York. Cohen, formerly Trump’s personal lawyer, confirmed two key details on the stand yesterday: That the former president knew about the $130,000 settlement negotiation to keep adult film star Stormy Daniels from revealing an alleged affair and that he directed Cohen to make that payment because of the 2016 election.

Source: Biden to announce new Chinese tariffs; Michael Cohen returns to the stand

How Do You Get Where You Need to Go? A Neuroscientist’s Guidebook for Navigating in Ice Cold and Other Hip Hop Symbols

How often do you rely on your GPS to get you where you need to go? I couldn’t find my way out of a paper bag without GPS. People with no sense of direction like me can change, though. Hugo Spiers, a neuroscience professor, said that people who have a good internal compass may have a deeper connection to the world around them. Try some of this advice to boost your navigation skills:

Flavor Flav’s clock. Nicki Minaj’s Barbie pendant. Slick Rick’s crown and eyepatch. Ghostface has an eagle cuff. These famous hip-hop symbols are currently on display at the American Museum of Natural History in New York as part of an exhibit called “Ice Cold: An Exhibition of Hip-Hop Jewelry.”