The American government today gave detailed details about the increase in customs duties on Chinese products of “strategic” sectors, announced in May by President Joe Biden. The issue is among those dominating Donald Trump and Kamala Harris’ campaign ahead of the November election.
The new customs duties will come into effect on September 27 and include:
- the 100% tariff increase on Chinese electric cars;
- for electric vehicle batteries 25%
- for solar cells 50%
- Tariffs for semiconductors (microchips) will also increase by 50% from January 1, 2025.
These increases “will target China’s harmful policies and practices that continue to penalize American workers and businesses,” US Trade Representative (USTR) Catherine Tay said in a statement. The Biden-Harris administration’s decisions underscore that it is committed to “defending workers and businesses against unfair trade practices,” he added.
The White House had announced on May 14 a significant increase in tariffs on Chinese goods, amounting to 18 billion dollars, for the sectors of the economy considered of “strategic importance”. “We will never allow her to control the market” for electric cars, Biden said at the time, noting that it is “impossible for our own automakers to compete fairly with her.”
Tai said “the changes proposed in May 2024 have been largely approved” and released a 100-page document detailing the products, the amount of tariffs and the dates when the increases will take effect.
Donald Trump, the Republican presidential candidate, intends, if elected, to raise tariffs again by 10-20% on goods imported from certain countries.
In their teleconference on Tuesday, his rival Kamala Harris said this would be a “consumption tax” that American consumers would ultimately have to pay. He also accused him of starting “economic wars” with China and the European Union when he was president.
Trump did start a trade war with China and imposed additional tariffs on imported Chinese goods. Joe Biden’s administration has largely maintained those tariffs.
#Increased #tariffs #imported #Chinese #goods
