The US increases duties on imports of Chinese goods
The United States announced an $18 billion increase in duties on imports of certain goods from China, including electric vehicles and semiconductors
This was reported by espreso.tv
The US Presidential Residence notes that the decision was made due to "China's unfair trade practices and to counteract the damage caused".
"President Biden is ordering his trade representative to raise duties under Section 301 of the Trade Act of 1974 on $18 billion of imports from China to protect American workers and businesses", the statement said.
From now on, the duty on certain steel and aluminum products will increase to 25% from 0-7.5%, on electric vehicles — from 25% to 100%, duties on semiconductors will increase from 25% to 50% by 2025, on solar panels — from 25% to 50%, on ship-to-shore cranes — from 0% to 25%, and on medical products (syringes and needles) the duty will increase from 0% to 50%.
"Today's announcement reflects President Biden's commitment to always support American workers. When faced with anticompetitive, unfair practices from abroad, the president will use whatever tools are necessary to protect American workers and industry", the White House emphasizes.
- On May 10, the US government imposed trade restrictions on 37 Chinese companies. In particular, some of them were sanctioned because of the incident with the "spy balloon" that flew over the United States last year.