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May 13, 2024, 11:52 p.m.
Biden to announce new 100% tariffs on EVs
Biden to announce new 100% tariffs on EVs
['tariff', 'China', 'Chinese', 'U.S.', 'administration']

The tariff on electric vehicles from China is currently 25%.

Biden to announce new 100% tariffs on EVs

President Biden announced new tariffs Tuesday on Chinese electric vehicles, semiconductors, batteries, solar cells, steel and aluminum. The tariffs on Chinese EVs will rise to 100%, quadrupling the current tariff of 25%. It's the latest bid by the Biden administration to keep China from undercutting U.S. companies and threatening U.S. manufacturing jobs, many of which are union jobs. The president 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. Scott Lincicome, tariffs experts and vice president of general economics at the libertarian-leaning Cato Institute, said the president's new tariffs are largely "Performative," given the impact of existing tariffs and how small the Chinese EV market is in the U.S. But the tariffs could affect the EV market in the U.S. in the longer term, he said. The administration is still investigating whether internet-connected vehicles from China pose a national security threat to the U.S. These ramped-up clean energy tariffs come after Mr. Biden asked U.S. Trade Representative Katherine Tai to consider tripling tariffs on Chinese steel and aluminum imports, an announcement Mr. Biden strategically made at U.S. Steelworkers headquarters last month in Pittsburgh.

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