U.S. President Joe Biden is on the verge of unveiling new tariffs targeting key sectors, such as electric vehicles, in China. The official announcement is expected to happen as early as next week, possibly on Tuesday, with the current levies likely to remain in place, as reported by sources familiar with the matter.
In addition to electric vehicles, the tariffs are anticipated to impact sectors like semiconductors and solar equipment. Although the specifics of the tariffs are not yet clear, the focus is on areas deemed vital for strategic competition and national security.
While the U.S. Trade Representative’s office had presented recommendations to the White House weeks ago, the final announcement was delayed due to internal discussions. This move is part of Biden’s strategy to differentiate his approach from that of former President Donald Trump, who favored broad tariffs that were seen as potentially inflationary.
The potential introduction of new tariffs could escalate tensions between the U.S. and China. Biden has expressed his intent not to engage in a trade war with China, despite acknowledging the competitive dynamics between the two countries.
Both Biden and his Republican competitor have deviated from traditional free-trade policies, reflecting a shift in the Washington consensus. Biden’s administration has reviewed and adjusted trade policies enacted during the Trump era, including implementing higher tariffs on certain Chinese metal products.
Furthermore, Biden recently initiated an investigation into Chinese trade practices within the shipbuilding, maritime, and logistics sectors. The administration is also working to deter China from indirectly exporting metal products to the U.S. via Mexico.
While China has criticized these tariff measures as damaging to both the U.S. and global economy, the Biden administration remains committed to rebalancing trade relations to protect national interests.
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