The tariffs will be phased in over the next three years, with those coming into force in 2024 covering electric vehicles, solar cells, syringes, needles, steel and aluminum
American president Joe Biden presented a series of sudden tariff increases on a series Chinese products, including electric vehicles, computer chips and medical products, risking an election-year clash with Beijing in an attempt to win over voters who give low marks to its economic policies, it says Radio Free Europe (RSE).
The tariff hikes were announced amid a heated campaign between Biden and former President Donald Trump, with both trying to portray themselves as tougher on China.
Biden will keep tariffs imposed by Trump while increasing others, the White House said, citing "unacceptable risks" to US "economic security" posed by what it says are unfair Chinese practices that flood global markets with cheap goods.
The tariffs will be phased in over the next three years, with those taking effect in 2024 covering electric vehicles, solar cells, syringes, needles, steel and aluminum, and more.
There are currently very few electric vehicles from China in the U.S., but officials worry that low-cost models made possible by Chinese government subsidies could soon flood the U.S. market.
The new measures affect $18 billion in imports of Chinese goods, including steel and aluminum, semiconductors, batteries, critical minerals, solar cells and cranes, the White House said.
In 2023, the US imported goods worth 427 billion dollars from China and exported goods worth 148 billion dollars, according to US data.
The new measures, according to the White House, are aimed at encouraging China to "eliminate its unfair trade practices related to technology transfer, intellectual property and innovation."
I just imposed a series of tariffs on goods made in China:
25% on steel and aluminum,
50% on semiconductors,
100% on EVs,
And 50% on solar panels.China is determined to dominate these industries.
I'm determined to ensure America leads the world in them.
- President Biden (@POTUS) May 14, 2024
"Carefully targeted" measures
Administration officials said the measures were "carefully targeted" and combined with domestic investment, planned with close allies and unlikely to worsen inflation that has already angered American voters and threatened Biden's re-election chances.
Analysts have warned that a trade conflict between the world's two largest economies could drive up costs for electric vehicles overall, hurting Biden's climate goals and his goal to create manufacturing jobs.
Biden has said he wants to win the era of competition with China, but not to start a trade war that could hurt the interdependent economies. In recent months, he has worked to ease tensions in talks with Chinese President Xi Jinping.
As part of the tariff increase, duties on Chinese electric vehicles will be increased from 25 percent to 100 percent, on lithium-ion batteries and battery parts for electric vehicles from 7,5 percent to 25 percent, and on photovoltaic cells used to make solar panels. panel from 25 percent to 50 percent.
Tariffs have also been increased for various other goods. For example, for medical syringes and needles, tariffs will be increased from zero percent to 50 percent.
More tariffs will follow in 2025 and 2026 on semiconductors, whose tariff rate will double to 50 percent, as well as lithium-ion batteries not used in electric vehicles, graphite and permanent magnets, as well as medical and surgical rubber. gloves.
China's foreign ministry said it was "opposed to unilaterally raising tariffs in violation of World Trade Organization rules" when asked about reports of the new measures.
China will "take all necessary measures to protect its legitimate rights and interests," Foreign Ministry spokesman Wang Wenbin said on Tuesday.
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