US President Joe Biden has imposed heavy tariffs on Chinese electric vehicles, batteries, steel, solar cells, and aluminium, saying it would ensure that American workers are not held back by unfair trade practices. These include a 100 per cent tariff on electric vehicles, a 50 per cent tariff on semiconductors, and a 25 per cent tariff each on electric vehicle batteries from China. In his address to the nation from the Rose Garden of the White House, Mr Biden said the US can continue to buy any kind of car they want, but it will never allow China to unfairly control the market for these cars. He said the US wants fair competition with China, not conflict. He said Washington is in a stronger position to win that economic competition of the 21st century against China than anyone else.
Mr Biden alleged that for years, the Chinese government has poured state money into Chinese companies across a whole range of industries: steel and aluminium, semiconductors, electric vehicles, solar panels, and even critical health equipment, like gloves and masks.
Comments are closed.