Wednesday, June 12, 2024

US to raise tariffs on Chinese EVs to 100% | NHK WORLD-JAPAN News

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The administration of US President Joe Biden says it will raise tariffs on Chinese EVs from 25 percent to 100.
The fourfold increase is part of expanded measures against imported Chinese products in a range of sectors.

Biden said in a statement on Tuesday that overproduction of subsidized products by Beijing is threatening US businesses and workers.

The president said the new measures will target strategic fields where the US is making historic investments. Tariffs will also be raised sharply on a range of other products, including lithium-ion batteries, solar cells and semiconductors.

In total, about 18 billion dollars’ worth of imports from China are expected to be affected.

Observers say Biden wants to show his commitment to domestic industries and employment before November’s presidential election. They say China is likely to react sharply.

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