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Paraphrase One of the key points is the increase in tariffs on imports from China and other countries, primarily on machinery and metals. This was
Paraphrase One of the key points is the increase in tariffs on imports from China and other countries, primarily on machinery and metals. This was a significant shift from the long-standing trend towards tariff liberalization. The United States used these tariffs as a tool to protect domestic industries and to retaliate against what it perceived as unfair trade practices by other countries. Furthermore, the document mentions the use of legal provisions in the Trade Expansion Act by the Trump Administration to justify the imposition of tariffs. For instance, Section 232 was used to increase tariffs on major steel and aluminum products from many countries, based on the argument that these imports pose a national security threat to the U.S. Section 301 tariffs were used against numerous products imported from China to offset government actions regarding intellectual property issues. The document also notes that the Biden Administration has expressed a desire to address trade issues with China and improve trade relations. Many economists anticipate that the Biden Administration's plan will de-escalate or even remove the section tariffs mentioned above
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