BY Staff WritersMay 17, 2024
1 month ago
BY 
 | May 17, 2024
1 month ago

Biden Implements Tariffs On Chinese EVs And Aluminum Amid Hunter Biden Firm's Deals

As tensions between international trade policies and personal business interests collide, an intriguing scenario emerges tying the Biden family to critical sectors of the Chinese economy.

An investment firm associated with Hunter Biden, BHR Partners, facilitated key international business transactions enriching the Chinese electric vehicle and aluminum industries while President Joe Biden concurrently heightened tariffs on the same sectors.

President Biden's escalation in tariffs directly aligns with significant business activities by his son's firm in related industries. According to the New York Post, BHR Partners, co-founded by Hunter Biden in 2013, emerged as a player on the international stage by engaging primarily with Chinese industrial sectors.

The company played a central role in major investments that supported China’s aspirations to establish market dominance in crucial sectors such as electric vehicles and aluminum.

Significant Investment Moves by BHR Partners

In one notable instance from 2016, BHR demonstrated its investment prowess by orchestrating the $3.8 billion acquisition of 80% of Congo's Tenke Fungurum cobalt mine through China Molybdenum Company Limited.

Cobalt is a crucial element in manufacturing batteries essential for electric vehicles, designating this transaction as pivotal for the Chinese electric vehicle industry.

In a parallel move, BHR Partners acquired and subsequently sold stakes in CATL, a leading Chinese electric car battery manufacturer. This activity occurred the same year as the cobalt mine deal, magnifying BHR's influence in accelerating China's electric vehicle sector.

Controversial Attempts in the Aluminum Sector

BHR's ambitions were not confined to the electric vehicle market. In 2015, the firm attempted to craft a deal between Zhongwang, a Chinese aluminum company, and Aleris, a U.S. counterpart.

However, Zhongwang and its owner faced legal challenges in 2019, and they were implicated in issues about tariff evasion, casting a shadow over this particular arrangement.

Joe Biden's recent imposition of tariffs appears to be a countermeasure against Chinese companies' accumulation of market power, which has accelerated production in vital sectors such as steel, aluminum, and electric vehicles.

Biden's administration has specified implementing a 100% tariff on Chinese electric vehicles and escalating tariffs on certain steel and aluminum products to 25% over the next two years.

Biden’s Rationale Behind Tariff Decisions

Addressing economic concerns, Joe Biden explained that the Chinese government has long facilitated the growth of domestic sectors via substantial subsidies.

These state-funded advantages allowed Chinese companies to overproduce and undermine global market prices, jeopardizing international competition.

"For years, the Chinese government has poured state money into a range of industries...pushing Chinese companies to produce far more than the world can absorb, then dumping the excess onto the market at unfairly low prices," Joe Biden stated. This indicates a clear policy response to stabilize economic disparities influenced by such practices.

Possible Political Repercussions

These overlapping economic policies and personal business engagements have not gone unnoticed. Congressional Republicans have investigated potential misconduct involving Joe Biden and his family.

They scrutinize interactions between Joe and Chinese government-controlled business ventures that may involve Hunter and James Biden.

In the wake of these developments, Hunter Biden's 10% ownership stake in BHR was allegedly purchased by attorney Kevin Morris, shedding light on the potential conflicts of interest as Joe Biden navigated his first year in office.

Conclusion of Complex International Dynamics

BHR Partners' simultaneous involvement in enriching Chinese industrial sectors, coupled with Joe Biden's enactment of substantial tariffs, paints a complex picture of international economics intertwined with personal business dealings. This narrative highlights the consequences of state-funded industrial expansion and flags potential ethical questions surrounding the integrity of political decisions influenced by personal affiliations.

Written by: Staff Writers

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