Thursday, November 7, 2024
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US sets steep tariff hikes on China as some industries warn of disruptions

The administration of US President Joe Biden on Friday imposed major tariff increases on Chinese imports, including a 100% tariff on electric vehicles, as the government seeks to better protect strategic industries from Chinese state-driven industrial practices.

The U.S. Trade Representative’s office said many of the tariffs, including a 100% levy on Chinese electric vehicles, 50% on solar cells and 25% on steel, aluminum, electric vehicle batteries and key minerals, would go into effect on Sept. 27.

The USTR decision, published on Friday and first reported by Reuters, called for a 50% tariff on Chinese semiconductors to go into effect in 2025, including two new categories: silicon wafers and polysilicon used in solar panels.

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