NO CHINESE RULES PLAYED – We anticipated it yesterday (Who the news) and now it’s practically official: the United States and Joe Biden’s administration have raised the taxation on several Chinese products, especially on electric vehicles, microchips, batteries, minerals and other imports including needles and syringes. The most important increase concerns electric cars, which quadruples the tax by passing dal 25% al 100% of the value. The rate on semiconductors doubles, from 25 to 50% by 2025, as does that for cells photovoltaic needed to produce solar panels. The battery lithium ions instead go from 7.5 to 25%. THE duties they will come into force staggered from now until 2026 and represent a targeted response to the 60% flat tariff proposed by Trump during the election campaign. “China is simply too big to play by its own rules,” Leal Brainard, director of the National Economic Council, told reporters.
ARTIFICIAL LOW COST – The measures are part of a aggressive approach to the issue of trade with China, one of the most popular issues among the US population during the electoral campaign leading to the presidential elections in November. The new taxation hits different sectors only a small segment of the American market, but they still aim to avoid a potential uncontrolled increase in imports. “President Biden and I have seen firsthand the impact of the surge in some artificially low-cost Chinese imports on American communities in the past, and we will not tolerate it again,” Treasury Secretary Janet Yellen announced in an interview .
WILL CHINA RESPOND? – If on the one hand the new duties could benefit the internal productiona, on the other hand they risk further increasing the prices of some goods for consumers already heavily affected by inflation, as well as provoking Beijing’s response, which could counter with the same coin. For the moment there are no reports of retaliation from the Dragon government: “We hope not to see a significant Chinese response, but that is always a possibility,” Yellen said.
2024-05-15 03:42:20
#USA #duties #Chinese #cars
