Business reactions to Biden Administration tariffs vary widely

Jun 26, 2024
Some businesses say the new tariffs will put them on a level playing field with Chinese exporters. Others see little advantage.
Biden is keeping many  Trump-era tariffs and introducing new ones, including lithium ion batteries, electric vehicles and feeding tube parts. 
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How tariffs compare in the Biden and Trump eras

May 14, 2024
Both used tariffs to support American jobs and industries. But the Biden administration's have been higher and more targeted.
President Biden announced increased tariffs on Chinese products Tuesday. The current administration's levies are higher and more targeted than those under Donald Trump.
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How new China tariffs could affect prices for U.S. business owners, consumers

May 14, 2024
When tariffs increase, costs often go up for business owners, who often then pass some of those increased costs along to consumers.
The Biden administration worries that importing Chinese EVs will hurt U.S. manufacturers, said Howard Gleckman with the Urban-Brookings Tax Policy Center.
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Inflation is "not yet where it needs to be," Treasury Secretary Yellen says

May 9, 2024
Janet Yellen addresses the state of the U.S. economy and underscores the country's rivalry and collaboration with China in an interview.
"I think it's important for Americans to understand how critical democracy is to economic performance," Treasury Secretary Janet Yellen says. Above, Yellen testifies at a House Ways and Means committee hearing on April 30.
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Sustainable jet fuel costs twice as much as fossil fuel. New federal subsidies aim to close that gap.

May 2, 2024
The Biden administration wants increase the use of sustainable aviation fuel around 180 fold by 2030.
Right now, the aviation industry uses about 16 million gallons of sustainable aviation fuel each year. The Biden administration is hoping to hit 3 billion gallons by 2030.
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Biden administration will award $7 billion in solar energy grants for homes

Apr 22, 2024
The funds will help 900,000 low-income and disadvantaged households benefit from solar energy, including by cutting their electric bills.
President Biden announced the Solar for All program Monday in Virginia during an event commemorating Earth Day.
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Nonprofits to receive billions of dollars for clean energy projects

Apr 5, 2024
$20 billion in grants and loans will be forthcoming from the Biden Administration. It's hoped this will attract private investment too.
At least 70% of recent federal funding for "green banks" is going to clean energy projects in low-income and disadvantaged communities.
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For public good, not for profit.

With CHIPS Act money, the Biden administration bets an old plant can make new chips

Mar 26, 2024
A Vermont facility built in the 1950s is getting a shot at making semiconductors for smartphones and electric vehicles.
A 1950s-era facility built by IBM and now owned by GlobalFoundries is set to receive upgrades, funded partly by $125 million from the CHIPS Act.
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Biden cancels $5.8 billion in student debt for public service workers

Mar 22, 2024
The federal government is trying to make sure eligible borrowers are able to get credit for payments made under the Public Service Loan Forgiveness program.
Under the Public Service Loan Forgiveness program, eligible borrowers like teachers make student debt payments for a certain number of years and the rest should be forgiven. That hasn't always happened though.
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Biden uses State of the Union speech to tout his economic track record

Mar 8, 2024
He cited job growth and cheaper drugs for seniors, among other things.
During the State of the Union address on Thursday, President Joe Biden touted the strong labor market the U.S. has seen under his presidency.
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