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Biden Administration Curbs ‘Second China Shock’ with Tariffs, Anticipates More Sanctions to Deter Russian Military Support, US Ambassador Asserts at Transatlantic Forum
The Biden government prevents a 'second China shock' through the use of tariffs, as stated by the US ambassador. The ambassador also cautioned that additional penalties may be imposed on Chinese firms to inhibit the supply of goods aiding Russia's armed forces.
He suggested that everyone globally, irrespective of their country, has gleaned from the pandemic the importance of not depending solely on a single source for crucial supplies. He made these comments at the Transatlantic Forum on GeoEconomics, an event hosted by the Atlantic Council in New York.
Burns was alluding to a significant increase in Chinese imports during the 2000s as the initial shock. He asserted that this resulted in the disappearance of over a million manufacturing jobs in the US.
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