Evolving US trade war with China, winners and losers

US President Biden initiated another round of trade tariffs against China goods: 25 percent on steel and aluminum, 50 percent on semiconductors, 100 percent on EVs, and 50 percent on solar panels, among others, tweeting that "China is determined to dominate these industries. I'm determined to ensure America leads the world in them."

The series of tariffs reinforces that Biden had largely continued the trade war Trump initiated, even though Biden had criticized his predecessor when he initiated the trade sanctions against China. An observant netizen reposted a tweet made by Biden in June 2019 in response to the tariffs Trump instituted: "Trump doesn't get the basics. He thinks tariffs are being paid by China. Any freshman econ student could tell you that the American people are paying his tariffs. The cashiers at Target see what's going on— they know more about economics than Trump."