China is likely going to face new tariffs now that the House of Representative has passed what the Senate passed. The move restores the government’s ability to levy tariffs reaching into the billions of dollars from China. President Obama still has to sign the measure. The House vote was 370 to 39 for passage and the Senate vote was passed unanimously.
Some may fear that this will spark a trade war, while others feel it will balance highly subsidized goods coming in from China and other non-market countries. The move offers at least some more ammunition against the war of currency manipulation, anti-dumping measures, and subsidization.
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