29.2 C
New York
Friday, May 24, 2024
No menu items!

Imposes 100% tariffs on Chinese electric cars – El Financiero

The Joe Biden administration decided to intensify its trade offensive against China by announcing a drastic increase in tariffs on imports of electric vehicles and other products considered “National security”, coming from the Asian giant.

According to the statement issued by the Commercial Representative, Katherine Tai, the electric cars of Chinese origin will face 100 percent tariffs starting in 2024.

This measure is part of a broader review of the US tariff policies towards China within the framework of Section 301, which seeks to stop practices considered “unfair” of forced technology transfer by Beijing.

Tai justified the new levies by arguing that, although previous tariffs have encouraged some changes, China persists in its efforts to acquire foreign technology, even through cyber attacks and cyber theft.

Not just Chinese electric cars: What other tariffs will the US impose on China?

The United States tariff offensive against China It also targets strategic sectors such as clean energy, high technology and medical supplies. In the field of solar panels, levies will double this year, going from 25 to 50 percent.

A similar increase will apply to semiconductors in 2025, rising from 25 to 50 percent. These increases seek to boost the domestic chip production, backed by large federal funds approved in 2022 to avoid shortages like those that partially paralyzed key industries during the pandemic.


The Biden administration thus intends to reduce the dependence on Chinese imports in these essential components.

Another item impacted will be port cranes for unloading ships, which will see a new tariff imposed 25 percent in 2024. In the health sector, syringes and needles will face tariffs of 50 percent next year, while tariffs on masks, respirators and medical-surgical gloves will rise to 25 percent between 2024 and 2026.

Tai argued that these actions seek to protect American jobs and investments and encourage the diversification of supply chains.

Source link

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Articles