According to two informed sources, it is expected that next week at the earliest, U.S. President Biden will announce new tariffs on electric vehicles and other products from China.
It is reported that as early as next Tuesday (May 14), the Biden administration is likely to announce new tariffs on key industry products from China, including electric vehicles, semiconductors, batteries, and solar equipment, but the timing of the announcement may also be delayed.
This decision comes after the Biden administration reviewed the tariffs implemented during the Trump administration under the “Section 301” provision. The U.S. government will impose new, targeted tariffs on some key export industries promoted by the Chinese Communist Party, such as electric vehicles, batteries, and solar equipment. The full announcement is expected to largely maintain the current tariffs.
In 2022, the Biden administration conducted a review of the tariff policies during the Trump era under Section 301 of U.S. trade law. Last month, Biden urged a significant increase in tariffs on Chinese metal products, with a narrower scope covering steel and aluminum products valued at over $1 billion.
Biden also announced a new investigation into China’s trade practices in the shipbuilding, maritime, and logistics sectors. The Biden administration also pressured Mexico to prevent China from selling metal products to the United States through Mexico to avoid tariffs.
Sources further revealed that the U.S. Trade Representative’s Office submitted a new tariff proposal to the White House weeks ago. Due to internal discussions on the comprehensive proposal, the final announcement has been postponed.