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

by
Sharing is Caring!

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.

See also  Bitcoin and Crypto: A Bigger Threat to the U.S. Dollar Than BRICS Currency – Trump’s 100% Tariff Threat Would Be Nothing Compared to His Potential Crackdown on Crypto

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.

See also  Nvidia & AMD rush to stockpile graphics cards; Trump tariff could raise prices by 40%

Sources:

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

https://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

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


126 views