Biden to raise tariffs on Chinese EVs from 25% to 100% next week

Sharing is Caring!

WASHINGTON — The Biden administration plans to raise tariffs on electric vehicles and other clean energy goods from China next week, according to people familiar with the matter.

The tariff rate on Chinese electric vehicles is set to roughly quadruple — from 25% to about 100% — the sources said. They also said that a rate hike would apply to Chinese batteries and solar panels — two areas that the Biden administration has invested in domestically.

See also  Despite a $7.5 billion investment, only eight EV charging stations have been installed under the Biden Administration's initiative.

Administration officials are planning to make the announcement Tuesday, though the timing could change.

The White House declined to comment.

The planned tariff hike was first reported by the Wall Street Journal.

Treasury Secretary Janet Yellen is heading to the G7 Finance Ministers meeting in Italy this month as the U.S. hopes to coordinate similar actions from other countries to present a coordinated front to China, one source said.

See also  Sheetz gets the shaft from Biden, not cool.

In an interview this week with Marketplace, Yellen was asked whether the U.S. was losing out competitively to China regarding electric vehicles and batteries.
www.nbcnews.com/politics/white-house/biden-plans-raise-tariffs-electric-vehicles-china-rcna151748

Views: 28

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.