Thursday, September 19, 2024
HomeBusinessUS sets steep tariff hikes on China as some industries warn of...

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.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments

Translate »