Washington. Chinese Imports: America has increased the difficulties of China. President Joe Biden has decided to impose heavy taxes on goods imported from China. This includes many Chinese products including batteries, EVs, steel, solar cells and aluminum. Also, these include 100 percent duty on Chinese electric vehicles, 50 percent on semiconductors and 25 percent duty on electric vehicle batteries.

Let us tell you that presidential elections are going to be held in America in November this year and this decision of the Biden government can have a huge impact on the economy of both the countries. 

'I want fair competition with China, not conflict'

Addressing the nation from the White House's Rose Garden, Joe Biden said American workers should not be deterred by unfair trade practices and the country can continue to buy any type of car it wants. "I want fair competition with China, not conflict. We are in a stronger position than anyone else to win the 21st century economic competition against China because we are investing in America again," he was quoted as saying by PTI.

Biden stressed that the Chinese government has been investing state funds in a variety of Chinese industries for years, including steel, aluminum, semiconductors, electric vehicles, solar panels, and essential health equipment such as gloves and masks. 

India may benefit from the escalation of US-China trade war

Economic think tank Global Trade Research Initiative (GTRI) on Tuesday said that the escalation of trade war between the US and China could force China to dump goods in Indian markets. The Commerce Ministry's investigation arm, Directorate General of Trade Remedies (DGTR), will have to remain vigilant regarding this.

The US on Tuesday reignited the trade war with China by announcing proposed tariff hikes on imports including electric vehicles (EVs), batteries and several other items. The US and the European Union are taking proactive steps to reduce dependence on China.

America will increase trade with India

GTRI said that the US raising tariffs on EVs, batteries and many other new technology items may prompt China to sell these products to other markets, including India. However, it said that high duties on Chinese face masks, syringes and needles, medical gloves and natural graphite also present a significant opportunity for India. By increasing the production and export of these in-demand products, India can increase its trade in the US market.