Biden hiking tariffs on Chinese EVs, solar cells, steel, aluminum - adding to tensions with Beijing

Tariffs China: President Biden Hiking Tariffs On C Nouvelles

Biden hiking tariffs on Chinese EVs, solar cells, steel, aluminum - adding to tensions with Beijing
Solar CellsSteelAluminum
  • 📰 6abc
  • ⏱ Reading Time:
  • 69 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 45%
  • Publisher: 63%

The Biden administration is announcing plans to slap new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment.

President Biden is expected to quadruple tariffs on electric vehicles from China in an announcement Tuesday, according to a source familiar with the decision.

Lael Brainard, director of the White House National Economic Council, said the tariffs will raise the cost of select Chinese goods and help thwart Beijing's efforts to dominate the market for emerging technologies in ways that pose risks to U.S. national security and economic stability. Under the 301 guidelines, the tariff rate is to double to 50% on solar cell imports this year. Tariffs on certain Chinese steel and aluminum products will climb to 25% this year. Computer chip tariffs will double to 50% by 2025.

The Chinese economy has been slowed by the collapse of the country's real estate market and past pandemic lockdowns, prompting Chinese President Xi Jinping to try to jumpstart growth by ramping up production of EVs and other products, making more than the Chinese market can absorb. The Europeans are worried, too. The EU launched an investigation last fall into Chinese subsidies and could impose an import tax on Chinese EVs.

The tensions go far beyond a trade dispute to deeper questions about who leads the world economy as a seemingly indispensable nation. China's policies could make the world more dependent on its factories, possibly giving it greater leverage in geopolitics. At the same time, the United States says it's seeking for countries to operate by the same standards so that competition can be fair.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

6abc /  🏆 250. in US

Solar Cells Steel Aluminum Adding To Tensions With Beijing

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Biden hiking tariffs on Chinese EVs, solar cells, steel, aluminum - adding to tensions with BeijingBiden hiking tariffs on Chinese EVs, solar cells, steel, aluminum - adding to tensions with BeijingThe Biden administration is announcing plans to slap new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment. It's an election-year move that’s likely to increase friction between the world’s two largest economies.
Lire la suite »

Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and moreBiden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and moreBiden Cabinet members like Janet Yellen, Gina Raimondo and Antony Blinken have all raised concerns about Chinese trade practices.
Lire la suite »

Biden's New 100% Tariff On Chinese EVs Shuts Out Cheap ImportsBiden's New 100% Tariff On Chinese EVs Shuts Out Cheap ImportsThe Biden administration confirmed today that Chinese EVs will be subject to a 100% tariff. That kills any hope of cheap Chinese EVs making it here.
Lire la suite »

Biden to quadruple tariffs on Chinese EVs as he works to outfox TrumpBiden to quadruple tariffs on Chinese EVs as he works to outfox TrumpThe cost to purchase an electric vehicle made in China could soon double.
Lire la suite »

Biden to announce new 100% tariffs on Chinese EVsBiden to announce new 100% tariffs on Chinese EVsThe tariff on electric vehicles from China is currently 25%.
Lire la suite »



Render Time: 2025-02-26 13:59:19