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Wednesday, July 3, 2024

Biden’s Bold Move: U.S. to Quadruple Tariffs on Chinese EVs

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On the 13th (local time), Jake Sullivan, the National Security Advisor to the White House, announced that President Joe Biden would soon announce tariffs on products imported from China.

During a briefing held at the White House in Washington DC, Sullivan responded to the related questions by saying, “I won’t get ahead of the president,” and “The specifics will be announced in short order, at the appropriate time.”

Sullivan explained, “It’s no secret that the president and the entire administration have been concerned about China’s unfair practices that hurt U.S. workers and businesses, overproduction problems, and a series of non-market and distorting practices that China has introduced in its strategic sector.” He emphasized, “The president has consistently stated that he will resist and respond, and that is the frame in which he approaches this issue.” Karine Jean-Pierre, the White House spokesperson, also stated, “We will hear directly from the president,” adding, “We have made it very clear that we will protect workers and businesses, and this administration will continue to do so.”

According to U.S. media reports, President Biden is expected to announce new tariffs on Chinese products in strategically important industries such as electric vehicles, batteries, and semiconductors as early as the 14th. The Financial Times previously reported that the Biden administration plans to quadruple the tariff on Chinese electric vehicles from the current 25% to 100%. In April, President Biden ordered the U.S. Trade Representative (USTR) to triple the tariff on Chinese steel and aluminum from the current 7.5% to 25%. Additionally, the USTR has recently begun an investigation into China’s unfair trade practices in the maritime logistics and shipbuilding sectors, following a petition by the United Steelworkers (USW).

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