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The US will impose 100% tariffs on Chinese electric cars

The US will impose 100% tariffs on Chinese electric cars

The United States will begin applying 100% tariffs on electric cars manufactured in China as of August 1, according to documents published this Wednesday by the US Government’s Office of Foreign Trade.

The document indicates that from May 29 to June 28, the period will be open so that the public can submit comments on the proposal to increase tariffs. “for certain Chinese products in strategic sectors.”

After that period, “the representative of Foreign Trade proposes that the increases in 2024 be effective on August 1.”

USA vs China: which products are affected by the increase in tariffs

Tariffs will increase by 10% for electric vehicles and 25% for battery parts as well as lithium-ion electric vehicle batteries.

Other products whose tariffs will be increased as of August 1 are critical minerals (25%), solar cells (50%), steel and aluminum products (25%) and syringes (50%).

Other tariffs will come into force on January 1, 2025, in particular semiconductors (50%), and again on January 1, 2026, to lithium-ion batteries for non-electric vehicles (25%) and medical gloves (25%).

In total, US President Joe Biden indicated that the US will increase tariffs on products that in 2023 represented trade valued at $18 billion.

The category that accounted for the largest amount of Chinese exports to the US were lithium-ion batteries, with a value of 13.2 billion dollars in 2023.

electric cars sustainable mobility IA.jpg

The category that accounted for the largest amount of Chinese exports to the US were lithium-ion batteries

Imposition of tariffs on China: what link does it have with the US campaign

The entry into force of the new tariffs will occur in full campaign for the elections on November 5 and at a time when Biden, who is seeking re-election, has adopted an increasingly harsh tone with China despite having opened a dialogue with Beijing, in an attempt to win over the US working class. USA and distance it from former President Donald Trump (2017-2021), future Republican candidate.

Source: Ambito

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