U.S. FINALIZES TARIFF INCREASES ON CHINESE GOODS AFTER FOUR-YEAR REVIEW

Sun 15 September 2024:

The Office of the United States Trade Representative (USTR) has concluded its four-year statutory review of China tariffs, announcing significant increases on a range of goods. Beginning September 27, tariffs on lithium-ion batteries for vehicles, critical minerals, steel, and aluminum will rise to 25%.

Electric vehicles will face a dramatic tariff hike to 100%, while solar cells will see a 50% increase. Syringes, needles, and certain medical supplies will also be subject to higher tariffs, with syringes and needles facing a minimum 50% tariff, and facemasks and gloves set for at least a 25% hike.

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Strengthening Trade Protections

These changes largely reflect the modifications proposed by the USTR in May, following feedback from over 1,100 public comments. The USTR’s action is aimed at bolstering protections for American businesses and workers from what it describes as China’s unfair trade practices.

“Today’s finalized tariff increases will target the harmful policies and practices of the People’s Republic of China that continue to impact American workers and businesses,” stated Ambassador Katherine Tai. She emphasized that the tariff hikes underscore the Biden-Harris Administration’s dedication to defending U.S. interests in the global trade arena.

The decision marks a continued effort by the U.S. to push back against China’s trade policies, with the goal of leveling the playing field for American industries.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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