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Joe Biden poised to impose tariffs on China EVs, strategic sectors
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The Joe Biden administration is set to impose new, targeted tariffs on some key sectors including electric vehicles, batteries and solar equipment. The full announcement is expected to also largely maintain existing levies. An announcement is scheduled for Tuesday, two of the people said.
President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors with new levies while rejecting the kind of across-the-board hikes sought by Donald Trump, people familiar with the matter said.
The decision is the culmination of a review of so-called Section 301 tariffs first imposed under Trump. The administration is set to impose new, targeted tariffs on some key sectors including electric vehicles, batteries and solar equipment. The full announcement is expected to also largely maintain existing levies. An announcement is scheduled for Tuesday, two of the people said.
The full details aren’t clear, and the White House declined comment.
While a decision could be delayed, it nonetheless presents one of Biden’s biggest moves in the economic race with China. It builds on a call last month to hike tariffs on Chinese steel and aluminum, and the formal launch of a fresh probe into Chinese shipbuilding.
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