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Biden ramps up tariff regime on $27b of China imports

Matthew Cranston

Washington | The Biden administration will increase tariffs on $US18 billion ($27.2 billion) worth of Chinese products in an election-year move that increases friction between the world’s two largest economies.

Following a four-year review on trade with China, President Joe Biden will not only keep the tariffs put in place by Donald Trump but also ratchet up others, including a quadrupling of electric vehicle duties to more than 100 per cent, a doubling of the duties on semiconductor tariffs to 50 per cent, and a more than threefold increase on the tariff on lithium-ion EV batteries and critical minerals.

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Matthew Cranston was The Australian Financial Review’s United States correspondent. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com

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    Original URL: https://www.afr.com/world/north-america/biden-lifts-tariff-regime-on-27b-worth-china-imports-20240515-p5jdo9