U.S. New Tariffs on China May Rise Tensions
Biden administration plans to impose new tariffs on strategic Chinese industries, heightening tensions.
The US government plans to impose new tariffs on strategic industries in China, including electric vehicles, semiconductors, and solar equipment, which could provoke retaliation from China and exacerbate tensions between the two countries. The international community will closely monitor the impact of these measures on the global economic and trade landscape.
It is reported that President Biden is expected to announce new tariffs on strategic industries this Tuesday (May 14), including significantly increased tariffs on electric vehicles, and new tariffs on semiconductors and solar equipment.
The announcement of the new tariffs is expected to continue the existing tariff policies on multiple Chinese goods initiated by former President Trump and to introduce new tariffs on semiconductors and solar equipment. Additionally, tariffs on electric vehicles could potentially increase to as much as 100%.
Furthermore, medical supplies manufactured in China, such as syringes and personal protective equipment, may also face additional tariffs.
The US government will focus on industries of strategic competition and national security significance, considering modifications to the so-called "Section 301 tariffs." These measures could provoke retaliatory actions from China, exacerbating tensions between the two largest economies in the world, similar to the trade war during the Trump administration.
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