Biden set to implement 200% tariff on Russian aluminum, which will worsen U.S. inflation
During his State of the Union Address on Tuesday, Joe Biden tried to claim that his economy was a success by lying about job 'creation' and downplaying inflation -- though the latter would not even be a problem were it not for his economic policies and those of Democrats in Congress.
At the height of the COVID pandemic-induced global supply chain crisis, Democrats passed major spending bills which continue to flood a product-starved market with money; more money with less to buy equals skyrocketing prices after creating artificial demand.
Now, the Biden regime is set to explode the price of aluminum -- and everything made with it -- by imposing a 200 percent tariff on aluminum manufactured by Russia,
according to Bloomberg:
The US is preparing to slap a 200% tariff on Russian-made aluminum as soon as this week to keep pressure on Moscow as the one-year anniversary of the invasion of Ukraine nears, according to people familiar with the situation. President Joe Biden has yet to give the official go-ahead, and there have been concerns in the administration about collateral damage on US industries, including aerospace and automobiles, said the people, who asked not to be identified discussing internal deliberations.
The move, which has been contemplated for months, is also aimed at Russia, the world’s second-largest aluminum producer, because Moscow has been dumping supplies on the US market and harming American companies. The timing of the decision could slip past this week, one of the people said.
"Russia, the world’s largest aluminum producer after China, has been a significant source of material for the US market. Most of it is value-added items, rather than in bulk product, with US buyers ranging from building and construction to automotive," the report added, effectively admitting that prices are going to soar.
The move is only going to further the development of a Global South economy led by BRICS -- Brazil, Russia, India, China, and South Africa,
along with a host of other nations joining ranks eager to shed the U.S. dollar-dominated system where the American deep state makes all the rules.
In October, following a two-day summit with Saudi Arabia, South African President Cyril Ramaphosa confirmed that the oil-rich kingdom is likely to join the growing BRICS coalition consisting of core members Brazil, India, China, and South Africa.
“The Crown Prince (prime minister Mohammad bin Salman bin Abdulaziz al Saud) did express Saudi Arabia’s desire to be part of BRICS and they are not the only country,” said Ramaphosa,
according to a Times Live report.
The bloc first met in 2009 and has always generally been seen as an economic alternative to the Western-dominated global economic order. Following Russia’s invasion of Ukraine, the West has pulled back engagement with and resources from Moscow, which is being seen as hastening the growth of BRICS as more countries flee the self-destructive left-wing cultural chaos of Western countries.
“We did say that Brics having a summit next year under the chairship of South Africa in SA, and the matter is going to be under consideration. A number of countries are making approaches to Brics members, and we have given them the same answer that it will be discussed by the Brics partners, and thereafter, a decision will be made,” Ramaphosa continued, according to Times Live.
In an assessment of the emerging situation, The Conservative Treehouse also noted: “A global financial and economic cleaving is underway created by the western nations chasing ideological climate change energy policy, while the rest of the world remains pragmatic toward oil, coal and natural gas as energy resources. Essentially, western governments’ following the ‘Build Back Better’ climate change agenda which stops using coal, oil, and gas to power their economic engine, while the rest of the growing economic world continues using the more efficient and traditional forms of energy to power their economies.”
Sources include:
TheConservativeTreehouse.com
Bloomberg.com
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