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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

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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 07:24

What will happen to the US economy when Biden imposes additional taxes on Chinese goods

Politics
Economy
The new tariffs imposed by President Biden on a range of Chinese products may not have a significant impact on the US GDP, inflation, and interest rates, but they will freeze the US-China economic relations for a long time. While import tariffs have been seen as a way to protect and develop domestic industries, economic studies and history have shown that the economic effects of these tariffs often do not meet expectations. The latest round of tariffs imposed by the US on China, announced by P..
VnExpress English
15. Mai 2024 um 08:07

US hikes tariffs on Chinese EVs to over 100%

Economy
Politics
The U.S. has increased tariffs on Chinese electric vehicles to 102.5% this year, up from 27.5%, as part of a trade review with China under Section 301. President Biden criticized Chinese subsidies and unfair trade practices, while the Chinese government condemned the tariffs as bullying and vowed to defend its rights.
The Guardian
15. Mai 2024 um 02:23

What’s behind the US tariffs on Chinese EVs and what do they mean for Biden’s re-election chances?

Politics
Economy
US President Joe Biden has imposed tariffs on Chinese imports, including a 100% tariff on Chinese-made electric vehicles, as part of efforts to protect American jobs and industries. The tariffs aim to prevent the dumping of cheap, subsidised Chinese goods that could undercut US government investments in key manufacturing sectors. The move is seen as a preventive measure to stop China from flooding the US market with surplus products.
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