The Biden administration announced a new package of tariff increases in an effort to protect American workers and businesses from China's unfair trade practices, and blame China for flooding the global market with "artificially low-priced exports." Was accused.
Under the package, tariffs on Chinese EVs are planned to be raised from 25 percent to 100 percent this year, on solar cells from 25 percent to 50 percent, and on some steel and aluminum products to 7.5 percent, Yonhap news agency reported. PE percentage to 25 per cent and on lithium-ion EV batteries from 7.5 per cent to 25 per cent.
Tariffs on semiconductors will double to 50 percent by next year, while duties on some medical products, such as syringes and needles, will rise from zero to 50 percent this year. Duties on natural graphite and permanent magnets will also increase from zero to 25 percent in 2026.According to his office, after years of review, Biden directed his trade representative to increase tariffs under Section 301 of the Trade Act of 1974 on US$18 billion worth of imports from China.
Reiterating its criticism of China's "unfair" and "non-market" practices, the White House underlined that American workers and businesses "can outcompete anybody as long as they have fair competition."
Washington has repeatedly raised concerns over China's actions, policies, and practices related to technology transfer, intellectual property, and innovation, which it claims continue to burden US commerce.
"Following a thorough review by the U.S. Trade Representative, President Biden is taking action to protect American workers and American companies from China's unfair trade practices," the White House said in a release.
It said, "To encourage China to eliminate its unfair trade practices with respect to technology transfer, intellectual property, and innovation, the President is directing an increase in tariffs in strategic sectors.,
Commenting on the tariffs, Trade Representative Katherine Tai reiterated her office's commitment to using "every lever" to promote American jobs and investment.
"Today, we are fulfilling our statutory goal to stop the PRC's harmful technology transfer-related acts, policies and practices, including cyber intrusions and cyber theft," he said, referring to China by its official name, the People's Republic of China. Hui said.
“I take this allegation seriously, and I will continue to work with our partners across all sectors to ensure that any actions taken support the Biden-Harry Administration's efforts to expand opportunities for American workers and manufacturers. be the complement of.
Commerce Secretary Gina Raimondo framed the tariff package as Biden's "decisive action to protect America's industrial competitiveness and economic security."
"We know the PRC's strategy
I have seen their non-market activities on solar and steel
,S. “The supply chain has been disrupted by artificially flooding the market with cheap products,” he said in a statement.
In a separate statement, Treasury Secretary Janet Yellen drew attention to her visit to China last month, where she raised concerns about China's industry overcapacity.
"President Biden and I have seen firsthand the impact of some artificially cheap Chinese imports on American communities in the past, and we will not tolerate it again," he said.
“These overcapacity concerns are widely shared by our partners in advanced economies and emerging markets, motivated not by an anti-China policy but by a desire to prevent harmful economic dislocation from unfair economic practices.,
The increase comes as former President Donald Trump floated the idea of raising tariffs by 60 percent or more on all imports from China in addition to his proposal for a 10 percent "universal" baseline tariff.
Under the package, tariffs on Chinese EVs are planned to be raised from 25 percent to 100 percent this year, on solar cells from 25 percent to 50 percent, and on some steel and aluminum products to 7.5 percent, Yonhap news agency reported. PE percentage to 25 per cent and on lithium-ion EV batteries from 7.5 per cent to 25 per cent.
Tariffs on semiconductors will double to 50 percent by next year, while duties on some medical products, such as syringes and needles, will rise from zero to 50 percent this year. Duties on natural graphite and permanent magnets will also increase from zero to 25 percent in 2026.According to his office, after years of review, Biden directed his trade representative to increase tariffs under Section 301 of the Trade Act of 1974 on US$18 billion worth of imports from China.
Reiterating its criticism of China's "unfair" and "non-market" practices, the White House underlined that American workers and businesses "can outcompete anybody as long as they have fair competition."
Washington has repeatedly raised concerns over China's actions, policies, and practices related to technology transfer, intellectual property, and innovation, which it claims continue to burden US commerce.
"Following a thorough review by the U.S. Trade Representative, President Biden is taking action to protect American workers and American companies from China's unfair trade practices," the White House said in a release.
It said, "To encourage China to eliminate its unfair trade practices with respect to technology transfer, intellectual property, and innovation, the President is directing an increase in tariffs in strategic sectors.,
Commenting on the tariffs, Trade Representative Katherine Tai reiterated her office's commitment to using "every lever" to promote American jobs and investment.
"Today, we are fulfilling our statutory goal to stop the PRC's harmful technology transfer-related acts, policies and practices, including cyber intrusions and cyber theft," he said, referring to China by its official name, the People's Republic of China. Hui said.
“I take this allegation seriously, and I will continue to work with our partners across all sectors to ensure that any actions taken support the Biden-Harry Administration's efforts to expand opportunities for American workers and manufacturers. be the complement of.
Commerce Secretary Gina Raimondo framed the tariff package as Biden's "decisive action to protect America's industrial competitiveness and economic security."
"We know the PRC's strategy
I have seen their non-market activities on solar and steel
,S. “The supply chain has been disrupted by artificially flooding the market with cheap products,” he said in a statement.
In a separate statement, Treasury Secretary Janet Yellen drew attention to her visit to China last month, where she raised concerns about China's industry overcapacity.
"President Biden and I have seen firsthand the impact of some artificially cheap Chinese imports on American communities in the past, and we will not tolerate it again," he said.
“These overcapacity concerns are widely shared by our partners in advanced economies and emerging markets, motivated not by an anti-China policy but by a desire to prevent harmful economic dislocation from unfair economic practices.,
The increase comes as former President Donald Trump floated the idea of raising tariffs by 60 percent or more on all imports from China in addition to his proposal for a 10 percent "universal" baseline tariff.
