U.S. President Bynden reportedly increased the tariffs of some Chinese products such as electric vehicles this week by one to three times.
Bloomberg News Sunday (May 12) quoted people familiar with the matter that Biden would announce the above measures at a event held by the White House.
After nearly two years of evaluation, Biden will increase or increase tariffs in critical areas.People who are unwilling to be named said that the total tariffs on Chinese electric vehicles will increase from 27.5%to 102.5%.Tariffs in the target industry will double or twice as much as possible.
People familiar with the matter said that Biden and his staff team spent time finalizing the content of the measures in recent weeks, including which products to be targeted at, and products to avoid the growth of US economic growth.They made the final decision when they negotiated.
People familiar with the matter also said that it is unclear which products will be avoided, but Biden will not announce the reduction of tariff measures.The U.S. government has hinted to the US solar industry that some products will be eliminated, including machinery for making solar panel components.Some equipment manufacturers have proposed to make the above adjustments and say that the current tariffs have destroyed Bayon's goal of winning the clean energy supply chain from China.
The White House refuses to comment on tariff measures.
