Biden to triple taxes on Chinese steel and block Japanese takeover of US Steel

Biden to triple taxes on Chinese steel and block Japanese takeover of US Steel

President touted plan during speech on Wednesday in Pennsylvania, where union support could prove crucial

Joe Biden announced plans to triple tariffs on Chinese steel and aluminum and promised to block the acquisition of US Steel by a Japanese company during a speech to steelworkers on Wednesday in the battleground state of Pennsylvania, where union support could prove crucial in the November general election.

Biden touted the plan during a visit to the United Steelworkers union headquarters in Pittsburgh, the heart of the American steel industry, where he said “the backbone of America has a steel spine” and promised to keep US Steel as a “totally American-owned, American-operated” company.

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