The United States has announced to impose additional tariffs on Chinese goods, up to 100%!

Posted by FBASZ

On May 14, 2024, U.S. time, the Office of the United States Trade Representative (USTR) released the fourth anniversary review report of the 301 investigation and issued a statement on China’s 301 tariff actions. U.S. Trade Representative Dai Qi said that the fourth anniversary review report on China’s Section 301 tariffs took into account her suggestions, and President Biden directed it to take further action to increase or increase tariffs on certain products.

The report also mentioned that the White House claimed that the new measures would affect US$18 billion worth of goods imported from China, including steel and aluminum, semiconductors, batteries, critical minerals, solar cells and cranes. According to the White House’s official website, tariffs on Chinese electric vehicles will increase from the current 25% to 100%.