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US Quadruples Tariffs on Chinese Imports, Including EVs and ...
2024-05-14 20:03:42

US Quadruples Tariffs on Chinese Imports, Including EVs and Chips

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The Biden administration has announced a significant increase in tariffs on Chinese imports, including electric vehicles (EVs), chips, solar panels, and other goods. The aim is to protect US industries from unfair trade practices and encourage domestic manufacturing.

The increased tariffs will impact imports worth $18 billion from China, covering sectors like steel, aluminum, semiconductors, batteries, and critical minerals. China has criticized the move, seeing it as a campaign maneuver by President Biden.

The tariffs on EVs and other products are expected to escalate trade tensions between the US and China, potentially leading to retaliatory measures.

Related news on that topic:

Punitive Tariffs on Chinese EVs Restrict Global Expansion and ... with US

The Biden administration's implementation of punitive tariffs on Chinese-made electric vehicles (EVs) is likely to hinder the global expansion plans of Chinese EV manufacturers like BYD and Leapmotor, as it deters them from entering the US market. This move is expected to impact their brand awareness and sales worldwide. The European Commission's probe into Beijing's subsidies for carmakers adds to the challenges faced by Chinese EV makers in Europe. The US tariffs aim to create a level playing field for US automakers and address unfair trade practices, leading to escalating trade tensions between the US and China. Stellantis, the owner of Vauxhall, plans to sell Chinese EVs in Europe, criticizing Biden's tariffs and capitalizing on the presence of Chinese car manufacturers in Europe.

Implications of Tariffs on Chinese Electric Vehicles for Global ... Trade

The escalating trade tensions between the European Union, United States, and China over tariffs on Chinese electric vehicles (EVs) are poised to have far-reaching consequences. While the EU's move to impose tariffs aims to protect its auto industry, it may hinder the transition to low-emission vehicles and provoke retaliatory actions from China, potentially disrupting global supply chains. President Biden's decision to increase tariffs on Chinese EVs in the US further intensifies the trade conflict, with implications for industry competitiveness and consumer prices. These developments underscore the complexities of balancing protectionism with free trade principles in the evolving global economic landscape.

Read 19 more recent news on this topic

The press radar on this topic:

New York Times - Business
14. Mai 2024 um 19:54

Biden Will Raise Tariffs on Chinese Electric Vehicles, Chips and Other Goods

Politics
Technology
Economy
Finance
President Biden announced an increase in tariffs on Chinese imports, including electric vehicles, solar cells, semiconductors, and advanced batteries, to protect American industries from unfair competition. He also endorsed maintaining tariffs on over $300 billion worth of Chinese goods implemented by the previous administration. The move reflects Biden's tough-on-China stance and aims to focus on strategic sectors like clean energy and semiconductors.
New York Times - Business
14. Mai 2024 um 18:22

How China Rose to Lead the World in Cars and Solar Panels

Politics
Economy
China has become a dominant player in various industries, producing a third of the world's manufactured goods and maintaining a significant trade surplus. President Biden is expected to increase tariffs on Chinese imports of electric cars and solar panels. China's economic strategy involves heavy lending to key manufacturing sectors to boost the economy.
New York Times - Business
14. Mai 2024 um 14:38

How Biden’s Trade War With China Differs From Trump’s

Politics
Economy
Technology
President Biden has escalated the trade war with China initiated by President Trump, but with a different focus on emerging high-tech industries and clean energy sectors. Biden has increased tariffs on electric vehicles, steel, aluminum, and semiconductors, while also imposing restrictions on technology sales to China and providing subsidies to American manufacturers. Unlike Trump, Biden's strategy involves collaborating with international allies to counter China.
The Guardian
14. Mai 2024 um 09:00

Biden announces 100% tariff on Chinese-made electric vehicles

Politics
Economy
Technology
Finance
US President Joe Biden announces a 100% tariff on Chinese-made electric vehicles as part of measures to protect US manufacturers from cheap imports. The tariff increase applies to EVs, lithium batteries, critical minerals, solar cells, semiconductors, steel, aluminium, and personal protective equipment.
n-tv.de
14. Mai 2024 um 09:03

Auch Schranken bei anderen Waren: Biden schraubt US-Zölle für E-Autos aus China auf 100 Prozent

Wirtschaft
Politik
US-Präsident Joe Biden erhöht die Einfuhrzölle für Elektroautos aus China auf 100 Prozent. Auch für Solarzellen, Chips und andere Waren werden die Zölle angehoben. Die US-Regierung wirft China vor, die globalen Märkte mit künstlich verbilligten Exporten zu überfluten und den fairer Wettbewerb zu gefährden.
CW

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