Auto & Transportation

Due on Tuesday are new Biden duties on Chinese EVs, solar energy, and medical supplies.

Due on Tuesday are new Biden duties on Chinese EVs, solar energy, and medical supplies.

By Kajal Sharma - 12 May 2024 08:11 PM

May 9, Washington, D.C./San Francisco (Reuters) - As early as next week, U.S. President Joe Biden is expected to unveil further tariffs on China that would target vital industries and include a significant increase in taxes on electric vehicles (EVs), according to three sources with direct knowledge of the situation.One of the persons said that the entire statement, which is anticipated on Tuesday, will uphold the current tariffs that former President Donald Trump imposed on a variety of Chinese imports.However, one of the persons said that in addition to raising EV taxes, it will also impose new levies on semiconductors and solar equipment. Additional duties are imposed on Chinese-made medical items, such as syringes and personal protective equipment, sources told Reuters.One of the persons stated that the Biden administration has targeted specific industries in its revision of the so-called "Section 301 tariffs," citing them as areas of critical competitiveness and national security.

The eagerly awaited tariff update follows some MPs' demands for steep increases in levies on Chinese automobiles. Currently, imports of light-duty automobiles manufactured in China are rather rare.According to persons familiar with the situation, the Wall Street Journal stated that under the new Biden plan, tariffs on Chinese electric vehicles would nearly treble. Sherrod Brown, the chairman of the Senate Banking Committee, is worried that Chinese EVs could compromise the privacy of American citizens and wants the Biden administration to outright ban them.The office of the U.S. Trade Representative submitted suggestions to the White House some weeks ago, but internal debates have caused a delay in the official release, according to sources. Some sources stated that it might arrive after Tuesday.

 

Newsletter

Subscribe our newsletter to stay updated every moment