White House To Unveil New Tariffs On Chinese Electric Vehicles And Clean Energy Goods
The Biden administration is set to announce new tariffs on electric vehicles and other clean energy goods from China as early as next week. The full announcement, expected on Tuesday, will target solar goods, critical minerals, and batteries from China according to the Wall Street Journal.
Currently, Chinese electric vehicles face a 25% tariff, and the administration is expected to raise that as much as 100% to make it more expensive to buy these products from China. The new tariffs are not expected to include traditional gasoline-powered cars made in China.
A sweeping White House move on China tariffs that is expected to be unveiled early next week "reflects lessons learned," according to a former official who was…
— Rteefact 🌊⌧ ⌧ looking fo 5000 followers (@Rteefact) May 11, 2024
The tariff update comes after lawmakers on Capitol Hill have called for hikes on Chinese vehicle tariffs. Sen. Sherrod Brown (R-OH), the Banking Committee chairman, has called on the Biden administration to ban Chinese electric vehicles completely due to privacy concerns about people’s data.
The White House has kept all the existing tariffs from former President Donald Trump in place, who imposed some $300 billion in tariffs at U.S. ports of entry. In announcing the new round of tariffs, Biden is looking to demonstrate his push to safeguard manufacturing in the U.S. ahead of the November election.
Biden White House to expand tariffs on Chinese trade
Fears Chinese EV imports because China is able to MASSIVELY undercut American manufacturers on price, while including more powerful batteries and advanced technology
So shitty inferior cars for us 🤔
https://t.co/GQPQs9BxWO— John Brzezinski (@JohnBrzezinski1) May 11, 2024
The trade moves are weighing on U.S.-China relations, and a spokesman for the Chinese Foreign Ministry slammed the Biden administration’s planned tariffs on Friday, saying existing tariffs have disrupted trade.