US announced quadruple tariffs on Chinese EVs, solar components, steel, aluminum, semiconductors
On May 14th, the White House announced that President Biden has issued a proclamation to increase tariffs on various products from China. The affected products include steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar panels, ships, cranes, and medical supplies.
Specifically：
Electric vehicles: Tariffs will be increased from 25% to 100%.
Batteries, battery components, and critical minerals: Tariffs on lithium-ion EV batteries will rise from 7.5% to 25%, non-EV batteries from 7.5% to 25%, and battery components from 7.5% to 25%; tariffs on natural graphite and permanent magnets will increase from 0 to 25%.
Solar panels: In 2024, tariffs on solar panels (whether assembled into modules or not) will increase from 25% to 50%.
Steel and aluminum: In 2024, tariffs on certain steel and aluminum products will rise from 0-7.5% to 25%.
Semiconductors: By 2025, tariffs on semiconductors will increase from 25% to 50%.
Offshore cranes: In 2024, tariffs on offshore cranes will rise from 0% to 25%.
Medical products: In 2024, tariffs on syringes and needles will increase from 0% to 50%, tariffs on certain personal protective equipment (PPE) will rise from 0-7.5% to 25%, and tariffs on rubber medical and surgical gloves will increase from 7.5% to 25%.
