On September 13, the U.S. government determined that it will significantly increase tariffs on imports from China in an effort to strengthen protections for strategic industries, Reuters reported.
The decision released by the Office of the U.S. Trade Representative shows that the U.S. will impose 100% import tariffs on Chinese-made electric vehicles, 50% tariffs on Chinese-made solar cells and semiconductors, and 25% tariffs on Chinese-made steel, aluminum, electric vehicle batteries, and key minerals and components.
The tariffs on Chinese electric vehicles, lithium-ion batteries used in electric vehicles, key minerals and components will take effect on September 27 of this year; the 50% tariffs on semiconductors will take effect in 2025 and this time the tariffs have added two new categories to the scope of the tariffs, i.e., wafers and polysilicon used in solar panels; and the lithium-ion batteries, key minerals and components used in other equipment and applications The tariffs will take effect on January 1, 2026.
The move marks the end of a more than two-year review of tariffs imposed by former U.S. President Donald Trump and largely maintains the major tariff increases announced by current U.S. President Joe Biden in May of this year.