Biden Says China Will Pay Economic Penalty For Supporting Russia on Ukraine

U.S. President Joe Biden on July 11 warned the Chinese communist regime that supporting Russia in its war with Ukraine would not result in economic benefits and could lead to penalties like raised tariffs and a loss of foreign investment.

“We have to make sure that Xi understands there’s a price to pay,” President Biden said at a press conference at the NATO summit in Washington, referring to Chinese Communist Party (CCP) leader Xi Jinping.

The president said the CCP must understand that “if they are supplying Russia with information and capacity, along with working with North Korea and others to help Russia in armament, that they’re not going to benefit economically as a consequence of that, by getting the kind of investment they’re looking for.”

President Biden pointed to how his administration has raised tariffs on Chinese electric vehicles since China fails to “abide by international rules.”

“So guess what? They’re not going to be able to export their electric vehicles [to] the United States without a significant tariff,” the president said.

Read Full Article Here