Market share data from automotive industry analysts

Biden Administration to Quadruple Tariffs on Chinese EVs to 102.5%, Impacting $18 Billion Imports

May 14, 2024, 01:36 AM

President Joe Biden's administration plans to significantly increase tariffs on a wide range of Chinese imports, including electric vehicles (EVs), semiconductors, batteries, solar cells, steel, and aluminum. The tariffs on Chinese EVs will rise from 27.5% to 102.5%, while tariffs on semiconductors will double to 50% by 2025. The move is part of a broader strategy to bolster domestic manufacturing and protect American industries ahead of the upcoming US election. The tariffs, set to be announced on Tuesday, are expected to impact $18 billion worth of Chinese imports. The administration is also considering exemptions for solar manufacturing equipment. This decision comes amid growing concerns about China's dominance in low-priced EVs and other green technologies, as well as the unprecedented risk of climate change.