AsianFin--U.S. President Joe Biden announced new tariffs Tuesday on Chinese EVs, semiconductors, batteries, solar cells, steel and aluminum. The tariffs on EVs will rise to 100%, quadrupling the current tariff of 25%.
Biden is directing the tariff on solar cell imports from China to double to 50%. Tariff rates on certain steel and aluminum products will more than triple to 25%, up from 7.5% or less. The Biden administration is also doubling tariffs on Chinese semiconductors from 25% to 50% and increasing tariffs on Chinese medical supplies, batteries, critical minerals and ship-to-shore cranes.
These steps together will raise tariffs on $18 billion in imports from China, the White House says, as the administration keeps in place Trump-era tariffs on China under Section 301.
"Cheap Chinese EVs that negatively impact U.S. businesses or workers do not further the cause of EVs in this country," a senior administration official said on a call with reporters Monday.
This is the latest bid by the Biden administration to keep China from undercutting U.S. companies and threatening U.S. manufacturing jobs.
Chinese foreign ministry spokesman Wang Wenbin on Tuesday said China "always opposes unilateral tariff hikes in violation of WTO rules and will take all necessary measures to safeguard its legitimate rights and interests."