|
Economy
|
US Quadruples Tariffs on Chinese Chips and Electric Vehicles: ...
2024-05-15 09:04:57

US Quadruples Tariffs on Chinese Chips and Electric Vehicles: Implications and Reactions

Image used under license from Shutterstock.com

The Joe Biden administration has announced a significant increase in tariffs on Chinese imports, including electric vehicles and semiconductors, to protect US industries and address unfair trade practices. These measures, affecting around $18 billion worth of goods, aim to safeguard domestic jobs and investments.

While the move may not have a substantial immediate impact on the US economy, it signals a freeze in US-China economic relations. China has threatened retaliatory actions, and the EU is also under pressure to address Chinese electric vehicle subsidies amid global trade tensions.

The tariffs, reaching over 100% on certain goods, highlight the escalating trade tensions between the US and China, with implications for both countries' economies and industries.

Related news on that topic:

US Raises Tariffs on EVs, Batteries, Solar Cells, and Computer ... from China

The Biden administration has announced higher tariffs on key goods from China, including electric vehicles, batteries, solar cells, and computer chips. The move aims to encourage fair trade practices and ramp up domestic manufacturing. The increased tariffs will impact various sectors, such as steel, aluminum, and critical minerals. President Biden's tough-on-China stance reflects his commitment to protecting American industries from unfair competition. The tariffs are part of efforts to address trade tensions and create a level playing field for US manufacturers. While there may be concerns about the potential impact on consumer prices and international supply chains, the focus remains on promoting industry growth and strategic sectors like clean energy and semiconductors.

US Quadruples Tariffs on Chinese Imports: Impact on EVs and ... Strategic Industries

The United States, under President Joe Biden's administration, is significantly increasing tariffs on various Chinese imports like electric vehicles, semiconductors, and solar panels, to safeguard American industries and counter China's unfair trade practices. The move aims to protect strategic sectors such as clean energy and semiconductor production, with tariffs expected to cover imports worth $18 billion. China has threatened retaliation, calling for the US to reverse the decision, while Biden's stance reflects a tough-on-China approach to prevent the flooding of the US market with surplus goods. The European Union is also feeling pressure to address Chinese EV subsidies following Biden's tariff plans, signaling a broader global impact of these trade measures.

Read 23 more recent news on this topic

The press radar on this topic:

EL PAÍS
14. Mai 2024 um 12:13

United States quadruples tariffs on imports of chips and electric vehicles from China

Economy
Politics
Technology
The Joe Biden administration is quadrupling tariffs on imports of electric vehicles and other products from China, such as photovoltaic panels, semiconductors, and port cranes, with the aim of protecting the US industry and combating China's unfair trade practices. These measures are expected to affect imports from China worth a total of $18 billion. In addition, the United States will also increase tariffs on lithium-ion batteries, solar panels, and other Chinese products in the coming years.
Kinh doanh - VnExpress
15. Mai 2024 um 00:56

China Threatens Retaliation to US Tariff Increase on $18 Billion of Goods

Politics
Economy
China has called on the US to revoke its decision to increase tariffs on $18 billion worth of Chinese goods, threatening to take measures to protect its interests. The US announced a significant increase in tariffs on various imports from China, including electric vehicles, computer chips, and medical products. China has voiced its opposition and demanded that the US rectify its actions and cancel the additional tariffs.
World - South China Morning Post
15. Mai 2024 um 04:00

EU feels heat from all sides as decision on Chinese EV duties looms

Politics
Economy
The European Union (EU) is under pressure to make a decision on whether to impose provisional duties on electric vehicles (EVs) made in China, as a June 5 deadline approaches. EU investigators have gathered evidence of subsidies in the Chinese EV sector that have distorted the European market. Pressure from the US, including President Joe Biden's plan to impose import tariffs on Chinese EVs, is seen as a way to push the EU to take action.
New York Times - Technology
15. Mai 2024 um 04:00

Few Chinese Electric Cars Are Sold in U.S., but Industry Fears a Flood

Politics
Economy
The Biden administration imposed new tariffs on Chinese electric vehicles, although few of these cars are currently sold in the United States. The decision reflects concerns within the American automotive industry about China's potential to flood the market with cheap electric vehicles. American automakers support the tariffs to protect investments and promote competitiveness in the industry.
CW

Account

Waiting list for the personalized area


Welcome!

InfoBud.news

infobud.news is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand

Spotlighting today's most mentioned stocks in the media. Uncover the stories making waves in the stock market:

A closer look at the individuals who are leading today's news narratives. Find out what makes them the center of attention.

Exploring the five locations receiving the most media attention in the last 24 hours. Discover what puts these places in the global spotlight

Your World, Tailored News: Navigate The News Jungle With AI-Powered Precision!

News

All News
Politics
Technology
Economy
Business
Climate

About

About Us
Team + Mission

Legal

Cookie Settings
Disclaimer
Legal Notice
Data Privacy

Contact

Contact