What do Biden's new China tariffs mean for the economy?

The White House announced new tariffs on Chinese imports Tuesday as part of an effort to protect U.S. businesses. William Reinsch, senior adviser at the Center for Strategic and International Studies, joins CBS News to assess the policy changes.

[jakewolf]

Translation: this protects American corporates but you the people will have to pay more for everything

[cherubimcherubim]

Tariffs is a tax on american. American consumers pay more for tariffs not China.

[alextube]

it means higher inflation in US, it's that simple

[larrycheesengchung]

This is a BS because US is not able to complete…..

[Wunderpus-photogenicus]

It is really hard to openly admit that we have failed. Sanctions and higher tariffs are the only tools left.

[axdunlop]

There is no over capacity if there is a willing buyer, it is called supply and demand, a core principle of Capitalism.

[normanchan]

That's too bad, cause I've seen what they have and I've seen what we have and I want what they have.

[johnwayne]

The tariffs will create an artificial environment which will raise the cost of living for Americans, and make these American industries uncompetitive to the rest of the world.

[EricRobillard-bj]

so we could have ev at good price from China but usa saction them. think about this

[Muricans]

U S A … Historical moment …. Bending the knee and admitting by Tariffs that it’s impossible to compete with China.

[bisayangdakodeay]

It surely not work because tariffs hit the buyers, mostly the regular joes.

[jdk]

Our healthcare insurance is going up. Thank you Joe Biden

[generaluriah]

Don't expect an explanation anytime soon.

[_Negra_Arroyo_Lane]

American companies make a lot of money Inside China. They can hit them there too.

[Lexomm]

You should look up the word 'competition', competition is good for the market.
Hint, you can defeat your competition by simply being better.
There, glad to have clarified that for you.

[junaidisalam]

it shows how RICH a merican are... they are more than happy to buy cars worth $ 50k up

[phyybalance]

Nothing starts until 2026…is he still around? I don’t see any Chinese cars. Does anyone? What tariff? It’s all up in the air like the spy balloon.

[vikinghog]

So sad to hear about this. First, when conservatives suggested Chinese tariffs, liberals claimed it was racist but now suddenly they are not? Second, i am a straight white male and American companies do not want me as an employee (based on their DEI programs) or customer (based on their advertising) so i have learned to seek out Chinese and other foreign products instead. Buy Anything But American Made is my new motto.

[larrycheesengchung]

Consumers will pay for it…. Thanks Biden for the wise call!

[thomasho]

China can simply stop exporting to the US. Then how to replace the Chinese products? But remember whatever the US products are expensive and not competitive. Inflation only gets worse.