U.S. confirms steep China tariff hikes, including 100% on EVs, effective Sept. 27, to protect domestic industries.

In a decisive move, the Biden administration has confirmed steep tariff increases on key Chinese imports, with many set to take effect on September 27. These measures are aimed at safeguarding strategic domestic industries from China’s state-driven overproduction, as the U.S. looks to fortify its economic defenses.

The tariffs include:

• 100% duty on electric vehicles (EVs)
• 50% duty on solar cells
• 25% duty on steel, aluminum, EV batteries, and key minerals

This aggressive trade stance is intended to limit China’s influence and bolster U.S. industries in sectors critical to national security. The implications for global trade could be significant, with heightened tensions likely between the world’s two largest economies as these tariffs reshape the import-export landscape.

Sources:

www.newsmax.com/newsfront/u-s-china-imports/2024/09/13/id/1180209/

www.msn.com/en-us/money/markets/biden-administration-finalizes-steep-new-tariffs-on-china-made-evs-batteries-and-ship-to-shore-cranes/ar-AA1qyH1Z

www.aol.com/news/exclusive-us-locks-steep-china-100639612.html