US locks in steep China tariff hikes, many to start Sept 27
==========
The Biden administration announced steep tariff hikes on Chinese imports, effective Sept 27, 2024; 100% duty on electric vehicles, 50% on solar cells, and 25% on steel, aluminum, EV batteries, and key minerals; 50% duty on semiconductors starting in 2025; minimal adjustments to tariffs on US$18 billion worth of goods; Lael Brainard emphasized the need for 'tough, targeted' tariffs to counter China's subsidies; China plans retaliation against the tariffs; Vice President Kamala Harris and Donald Trump are courting voters in key states; EU and Canada also announced new tariffs on Chinese EVs; temporary relief for US port operators regarding cranes; increased tariffs on medical supplies delayed to allow shift to non-Chinese suppliers.
#Tariffs #China #BidenAdministration #ElectricVehicles #Semiconductors #TradePolicy #Retaliation #Harris #Trump #EconomicStrategy
https://theedgemalaysia.com/node/726737
Oddbean new post about login | logout