US To Increase Tariffs On $18 Billion In Chinese Imports: White House

The White House announced on Tuesday that the US is increasing tariffs on $18 billion worth of Chinese imports, focusing on important industries like steel, vital minerals, batteries, and electric cars.

The move was made with authorities slamming Trump’s trade record, and it comes as President Joe Biden prepares for a rematch with Republican opponent Donald Trump in November’s election.

According to the White House, the tariff rate on electric vehicles will increase fourfold to 100% this year, while the tariff rate on semiconductors will rise from 25% to 50% by the following year.

China is being urged to eliminate its unfair trade practices regarding technology transfer, intellectual property, and innovation, according to the statement that accompanied the action.

This comes after Washington and Beijing engaged in a trade war that resulted in the introduction of tariffs on around $300 billion worth of Chinese goods by then-President Trump.

The Trump administration mostly employed the so-called Section 301 probe to support tariffs, and after four years, the US Trade Representative is obligated to examine the effects of the tariffs.

The action was taken under Section 301 of the Trade Act. Washington is nearly increasing tariffs on some steel and aluminum items, as well as on lithium-ion EV batteries and battery parts, in addition to EVs and semiconductors.