Biden Set to Impose Chinese Tariffs on EVs, Strategic Sectors
May 13, 2024
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0:15Now PlayingBiden Set to Impose Chinese Tariffs on EVs, Strategic Sectors
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as posted by the channelPresident Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors with new levies while rejecting the across-the-board hikes sought by Donald Trump, people familiar with the matter said.
The decision is the culmination of a review of Section 301 tariffs first put into place under Trump starting in 2018. The US will impose new, elevated tariffs that focus on key industries including electric vehicles, batteries and solar cells. Other existing China levies are expected to largely be maintained. An announcement is scheduled for Tuesday, two of the people said.
While a decision could be delayed, it nonetheless represents one of Biden’s biggest moves in the economic race with China. It builds on his call last month to hike tariffs on Chinese steel and aluminum, and the formal launch of a fresh probe into China’s shipbuilding industry.
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