The Office of the Trade Representative publishes the new list of tariff increases on Chinese imports
Among the increases, electric cars will be taxed at 100% and solar cells (whether or not assembled in modules) register a rate increase to 50% in 2024.
Chinese automobiles
The Office of the Trade Representative (USTR) presented the detailed list of the new tariffs on imports of Chinese products from "strategic" sectors, including electric cars that will be taxed at 100%, according to a statement from the trade representative, AFP reported.
The measures will take effect on Sept. 27, and as outlined by USTR in a Federal Register notice, provide for the following items:
With respect to tariff increases, the president ordered increases on the following products: electric vehicles: rate increase to 100% in 2024, solar cells (whether or not assembled into modules): rate increase to 50% in 2024. Lithium-ion batteries for electric vehicles: rate increase to 25% in 2024, steel and aluminum products: rate increase to 25% in 2024.
Instead of pursuing fundamental reform, China has persisted, and in some cases become more aggressivea, including through cyber intrusions and cyber theft, in its attempts to acquire and absorb foreign technology, which places additional burdens or restrictions on U.S. trade.
The measures ‘target against China's nefarious policies and practices’
The imposition of these tariffs was communicated last May. At that time, a period was opened for comments to be submitted. The final decision is that tariffs will be increased on products that last year accounted for $18 billion worth of trade.
Trade Representative Katherine Tai stated that "Today's finalized tariff increases will target harmful PRC policies and practices that continue to hurt American workers and businesses ... These actions underscore the Biden-Harris administration's commitment to stand up for American workers and businesses against unfair trade practices."
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