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US to quadruple tariffs on vehicles from China

US President Joe Biden's administration is reportedly preparing to increase tariffs on Chinese clean energy products next week and will nearly quadruple duties on electric vehicles.

US to quadruple tariffs on vehicles from China

According to US media reports, signs that China is increasing its exports of clean energy products have caused concern in Washington.

It was noted that the Biden administration is preparing to increase tariffs on clean energy products imported from China in the coming days, and the tax on Chinese electric vehicles will be increased nearly 4 times.

Expected to be announced on May 14, the tariffs will affect critical minerals, solar energy products and batteries of Chinese origin.

It was stated that US officials are particularly focused on electric vehicles and are expected to increase the tariff rate from 25 percent to nearly 100 percent.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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