Biden finalizes increases to some of Trumpās China tariffs
September 13, 2024
"The Biden administration said Friday that it has finalized tariff hikes on certain Chinese-made products that the
president first announced in May.
The tariff rate will go up to 100% on electric vehicles, to 50% on solar cells and to 25% on electrical vehicle batteries, critical minerals, steel, aluminum, face masks and ship-to-shore cranes beginning September 27, according to the US Trade Representativeās Office.
Tariff hikes on other products, including semiconductor chips, are set to take effect over the next two years."
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"Trump implemented sweeping tariffs on about $300 billion of Chinese-made products when he was in office. President Joe Biden has kept those tariffs in place and, after the USTR finished a multiyear review earlier this year, decided to increase some of the rates on about $15 billion of Chinese imports."