Biden administration quadruples import tariff on Chinese electric vehicles

The United States is taking additional measures to eliminate China’s influence on its economy. White Houseannounced a massive increase in tariffs on $18 billion worth of Chinese imports, including semiconductors, steel, aluminum and electric vehicles. The tariff of the latter will increase fourfold, from 25% to 100%; According to the White House’s claim, this move will “protect American manufacturers.” The announcement also stated that China’s EV exports will increase by 70% between 2022 and 2023.

semiconductors and other tariff increases are also significant, such as the 25% to 50% increase for solar cells. There are also batteries with a tariff increase from 7.5% to 25%. Medical products are also part of this increase; Needle and syringe tariffs increase from zero percent to 50%.

Biden administration quadruples import tariff on Chinese electric vehicles

The Biden administration emphasizes that American companies need a real chance to compete against Chinese imports. “China’s unfair trade practices regarding technology transfer, intellectual property and innovation
American “It threatens their businesses and employees.” In its statement, the White House stated that China is also flooding global markets with artificially low-priced exports. Biden’s decision builds on tariffs imposed by his predecessor and current election rival Donald Trump.