United States President Joe Biden is raising tariffs on imports of Chinese goods, including semiconductors, batteries, solar cells and electric vehicles.
What is known about the increase in US fees on Chinese goods
In 2024, the fee on particular steel and aluminium products will increase to 25% from 7.5% and on electric cars — from 25% to 100%.
The US will also increase fees on Chinese lithium-ion batteries for electric vehicles from 7.5% to 25% in 2024. At the same time, for lithium-ion batteries intended for other purposes, fees will similarly rise only in 2026.
In addition, the import tax on Chinese solar panels will double from 25% to 50%. Fees for natural graphite will increase from 0 to 25% in 2026. For a number of other types of mineral raw materials — already this year.
The decision to raise fees was made due to "unacceptable risks" to the economic security of the United States caused by "unfair actions of China", which is flooding world markets with cheap goods, the White House explained.
U.S. Trade Representative Catherine Tay said the revised fees were justified as China continues to steal U.S. intellectual property and, in some cases, has become "more aggressive" in cyber attacks targeting U.S. technology.
The US is trying to stop China's development
This is not the first year that Washington has pursued a policy of curbing Beijing's technological development, as it fears that China will be able to use the chips to produce high-quality weapons.
As recently as last year, it was reported that the US would take new steps to prevent US chipmakers from selling semiconductors to China to circumvent government restrictions.
And in March, the Biden administration revised restrictions on China's supply of American artificial intelligence chips and chip-making tools.
