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2024-05-15 15:07:12
Europe
Economy
Automotive

Impact of United States Quadrupling Tariffs on Chinese Imports

The recent decision by the Joe Biden administration to quadruple tariffs on Chinese imports like electric vehicles and semiconductors aims to protect the US industry and address China's unfair trade practices, affecting goods worth around $18 billion.

This move could spur similar actions from Europe and lead to a reshuffle in Chinese industries facing overcapacity concerns. While the impact on the US economy may not be significant in terms of GDP and inflation, these tariffs are poised to strain US-China economic relations.

The US tariff hike on Chinese EVs to over 100% and the fear of a flood of cheap Chinese electric vehicles in the US market have also raised concerns among American automakers. The EU is feeling pressure to impose tariffs on Chinese EVs, reflecting a broader debate in Europe on whether to follow the US in imposing tariffs on Chinese goods, with various viewpoints being considered within the EU.

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EL PAÍS: el periódico global
14. Mai 2024 um 12:13

United States quadruples tariffs on imports of chips and electric vehicles from China

Economy
Politics
Technology
The Joe Biden administration is quadrupling tariffs on imports of electric vehicles and other products from China, such as photovoltaic panels, semiconductors, and port cranes, with the aim of protecting the US industry and combating China's unfair trade practices. These measures are expected to affect imports from China worth a total of $18 billion. In addition, the United States will also increase tariffs on lithium-ion batteries, solar panels, and other Chinese products in the coming years.
China Economy - South China Morning Post
15. Mai 2024 um 13:00

US tariffs on China: what’s the real impact, and what could happen next?

Politics
Economy
US President Joe Biden's latest tariff increases on Chinese electric vehicles (EVs) and other goods may trigger similar actions from Europe and pace up a reshuffle of crowded industries inside China. China is under threat of collective duties from the West amid concerns of industrial overcapacity. The proposed tariffs on Chinese EVs and other products could have a psychological impact and encourage others to follow suit, even though the immediate damage to affected sectors may be limited.
Kinh doanh - VnExpress
15. Mai 2024 um 07:24

What will happen to the US economy when Biden imposes additional taxes on Chinese goods

Politics
Economy
The new tariffs imposed by President Biden on a range of Chinese products may not have a significant impact on the US GDP, inflation, and interest rates, but they will freeze the US-China economic relations for a long time. While import tariffs have been seen as a way to protect and develop domestic industries, economic studies and history have shown that the economic effects of these tariffs often do not meet expectations. The latest round of tariffs imposed by the US on China, announced by President Biden, will affect approximately $18 billion worth of goods, including electric cars, lithium-ion batteries, solar energy products, steel, aluminum, and medical equipment.
VnExpress English
15. Mai 2024 um 08:07

US hikes tariffs on Chinese EVs to over 100%

Economy
Politics
The U.S. has increased tariffs on Chinese electric vehicles to 102.5% this year, up from 27.5%, as part of a trade review with China under Section 301. President Biden criticized Chinese subsidies and unfair trade practices, while the Chinese government condemned the tariffs as bullying and vowed to defend its rights.
Saturday5/18/2024
9:27:16 AMCW 20

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