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Biden Announces New Tariffs, Accusing China of "Cheating"

Written: 2024-05-15 16:08:04Updated: 2024-05-15 16:48:41

Biden Announces New Tariffs, Accusing China of "Cheating"

Photo : YONHAP News

U.S. President Joe Biden criticized China for "cheating" as he announced fresh tariffs on Chinese products in key industries, including electric vehicles and solar cells. 

During a speech at the White House on Tuesday, Biden stressed that Washington will not allow Chinese electric vehicles to "flood" the U.S. market, preventing fair competition for American auto companies.

Raising the issue of the Chinese government providing large subsidies for key materials like aluminum and solar cells, Biden said that with fair competition American workers and businesses can win. 

The U.S. leader vowed to ensure that the future of electric vehicles is created by unionized workers in the U.S., adding that his administration will achieve this while upholding international trade laws.

Under the new tariff package, the U.S. plans to raise tariffs this year on Chinese electric vehicles(EVs) from 25 percent to 100 percent, on solar cells from 25 percent to 50 percent, on certain steel and aluminum products from up to seven-point-five percent to 25 percent, and lithium-ion EV batteries from seven-point-five percent to 25 percent.

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