 First thing you know before tomorrow, President Biden announced a new round of tariffs today on China. The tariffs focus on Chinese aluminum and steel that come into the U.S. through Mexico. He issued a 25 percent tariff on steel and a 10 percent tariff on aluminum. The exact same rates that Donald Trump first placed on those products coming from China during his first administration. At the time, Biden criticized Trump's tariffs as a direct regressive tax on Americans. But now his administration is saying no.