Meteorologia

  • 21 SEPTEMBER 2024
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US to impose more tariffs on industrial imports from China

The Biden administration is considering new tariffs on imports of electric vehicles, semiconductors, solar equipment and medical supplies from China, the AP reported, citing people familiar with the plan.

US to impose more tariffs on industrial imports from China
Notícias ao Minuto

06:44 - 11/05/24 por Lusa

Mundo Biden

In particular, tariffs on electric vehicles could quadruple, which would raise them to 100% from the current 25%.

The plan was described on condition that the sources not be identified because they weren’t authorized to detail it ahead of its formal announcement.

The new tariffs, which are set to be announced Tuesday, come after several Biden administration officials have expressed frustration about Chinese “overcapacity” in electric vehicles and other products that they say threaten U.S. jobs and national security.

Industrialized economies including the U.S. and its European allies worry that a flood of cheap Chinese imports will swamp their domestic industries.

In the U.S. case, the concern is that Chinese clean-energy products could undermine the massive climate investments envisioned in the Inflation Reduction Act that President Biden signed into law in August 2022.

Tuesday’s announcement is expected to keep in place some tariffs that were put in place during the Trump administration, which apply to about $360 billion worth of goods.

Syringes and solar panels are now among the products that are set to be hit with new duties.

There are some signs that China is ramping up its production of lithium-ion batteries used in electric vehicles, mobile phones and other electronics, even as they face growing scrutiny in the West.

Taking a more radical stance, Democratic Sen. Sherrod Brown of Ohio said on social media Friday that “tariffs aren’t enough. We need to ban Chinese EVs from the U.S. Period.”

Treasury Secretary Janet Yellen, who visited Guangzhou and Beijing in early April, cited production of electric vehicles and their batteries, as well as solar energy equipment — sectors that the Biden administration is seeking to develop domestically — as areas where Chinese government subsidies have led to a rapid expansion of production.

“China is simply too large for the rest of the world to absorb its massive capacity. Its actions today can move global prices,” she said in a speech in Beijing.

The plan for new tariffs was reported earlier by Bloomberg News and The Wall Street Journal.

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