China Says New US Tariffs 'Compounding Its Mistakes'

9/17/2024 12:10:20 AM

(MENAFN- Asia Times) Beijing has vowed to take measures to protect Chinese firms' interests after the United States finalized its tariff hikes on Chinese goods, including electric vehicles (EVs), batteries, solar panels, metals and medical tools.

The Office of the United States Trade Representative (USTR) said on September 13 that it will proceed with its previously proposed tariff hikes on imports from China after Section 301 tariff investigations.

From September 27 this year, the US will impose a 100% tariff on EVs and a 50% tariff on solar cells, syringes and needles imported from China. It will also impose a 25% tariff on China's facemasks, battery parts (non-lithium-ion batteries) and lithium-ion EV batteries, critical minerals, ship-to-shore cranes and steel and aluminum products.

From the beginning of 2025, the US will impose a 50% tariff on semiconductors and medical gloves made in China. From the beginning of 2026, the US will impose a 25% tariff on China's lithium-ion non-EV batteries, natural graphite and permanent magnets, a 50% tariff on facemasks and also a 100% tariff on medical gloves.

These tax hikes have been largely unchanged from those announced by the Biden administration on May 14, covering US$18 billion worth of imports from China.

The USTR said on September 13 that it made its decision after considering public comments and the advice of the interagency Section 301 committee and appropriate advisory committees over the past few months.

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