Brainard Says Tariffs Needed to Avoid New 'China Shock' in US.

President Joe Biden's top economic adviser, Lael Brainard, is defending the administration's new tariffs on Chinese imports, stating that they are necessary to prevent economic turbulence caused by unfair trade practices. Brainard argues that China is using the same tactics as before to power its own growth, such as investing in industrial overcapacity and flooding global markets with cheap exports. The tariffs, announced by Biden, aim to protect American businesses and industries, but they also pose risks, including potential price increases for consumers and possible retaliation from China. Brainard emphasizes that the US will work with its allies to combat unfair Chinese trade practices. [Extracted from the article]