Biden Administration Locks In Steep Tariff Hikes On Chinese Imports
5 days ago
The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles.
Top White House economic adviser Lael Brainard told Reuters the decision was made to strengthen domestic production of EVs, and diversify away from China's dominant, state-funded supply chain.
Many of the tariffs go into effect as soon as September 27th.
They include a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals.
The guidelines, published in a memo Friday from the Office of the United States Trade Representative but first reviewed by Reuters, also show a 50% duty on Chinese semiconductor chips that will start in 2025.
China has vowed to retaliate against what it has called "bullying" tariff hikes, and argued that its EV industry's success is due to innovation, and not support from the Chinese government.
The higher tariffs take effect as Vice President Kamala Harris and former President Donald Trump both court voters in auto and steel producing states, trying to position themselves as tough on China ahead of the November presidential election.
Trump has vowed to impose 60% tariffs on all Chinese imports.
Top White House economic adviser Lael Brainard told Reuters the decision was made to strengthen domestic production of EVs, and diversify away from China's dominant, state-funded supply chain.
Many of the tariffs go into effect as soon as September 27th.
They include a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals.
The guidelines, published in a memo Friday from the Office of the United States Trade Representative but first reviewed by Reuters, also show a 50% duty on Chinese semiconductor chips that will start in 2025.
China has vowed to retaliate against what it has called "bullying" tariff hikes, and argued that its EV industry's success is due to innovation, and not support from the Chinese government.
The higher tariffs take effect as Vice President Kamala Harris and former President Donald Trump both court voters in auto and steel producing states, trying to position themselves as tough on China ahead of the November presidential election.
Trump has vowed to impose 60% tariffs on all Chinese imports.
