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US Quadruples Tariffs on Chinese Imports: Impact on EVs and ...
2024-05-15 06:20:36

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

Image used under license from Shutterstock.com

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.

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.

Biden's Tariffs on Chinese Products: A Trade War with Results?

President Biden has announced new tariffs on Chinese products, including electric vehicles, semiconductors, and solar cells, in an effort to boost American industries and counter China's dominance. The effectiveness of these tariffs in rebuilding America's industrial base remains uncertain. Unlike Trump, Biden's strategy involves collaborating with international allies to counter China. While the immediate impact on consumers may be limited, the tariffs could restrict access to cheaper Chinese-made goods in the future. The move reflects Biden's tough-on-China stance and aims to focus on strategic sectors like clean energy and semiconductors. However, there are concerns in Europe about the possible impacts on European supply chains due to the US tariffs on Chinese products. Overall, Biden's trade war with China is a distinctive approach that seeks to address unfair trade practices and promote industry growth in the US.

Read 22 more recent news on this topic

The press radar on this topic:

New York Times - Business
14. Mai 2024 um 19:54

Biden Will Raise Tariffs on Chinese Electric Vehicles, Chips and Other Goods

Politics
Technology
Economy
Finance
President Biden announced an increase in tariffs on Chinese imports, including electric vehicles, solar cells, semiconductors, and advanced batteries, to protect American industries from unfair competition. He also endorsed maintaining tariffs on over $300 billion worth of Chinese goods implemented by the previous administration. The move reflects Biden's tough-on-China stance and aims to focus on strategic sectors like clean energy and semiconductors.
New York Times - Business
14. Mai 2024 um 18:22

How China Rose to Lead the World in Cars and Solar Panels

Politics
Economy
China has become a dominant player in various industries, producing a third of the world's manufactured goods and maintaining a significant trade surplus. President Biden is expected to increase tariffs on Chinese imports of electric cars and solar panels. China's economic strategy involves heavy lending to key manufacturing sectors to boost the economy.
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.
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