Written by Cláudio Afonso | LinkedIn | X
The U.S. administration finalized steep tariff increases on Chinese imports, including a 100 per cent duty on electric vehicles with the new duties becoming effective in two weeks, on September 27.
President Joe Biden announced in May that tariffs on Chinese electric vehicles would increase from 25 percent to 100 percent to prevent subsidized Chinese products from overwhelming the U.S. market and hindering the development of the American green technology sector.
Earlier this year, The Alliance for American Manufacturing said the arrival of Chinese cars to the US market would be an “extinction-level event” for the local brands.
Additionally, and according to Reuters, Biden’s administration said that a 25 per cent tariff would be imposed on lithium-ion EV batteries, further impacting the importations of carmakers that were aiming to start selling in the United States.
The final decision on the new duties had been postponed a few times as the initial plan was to become effective on the first day of August.
Reuters mentioned that the determination also showed that, starting from next year, Chinese semiconductors will face a 50 per cent duty.
Written by Cláudio Afonso | LinkedIn | X
