President Joe Biden boards as departs on Marine One at Marina Green parking lot with the Golden Gate Bridge behind, Friday, May 10, 2024, in San Francisco. WASHINGTON — The Biden administration plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China, according to a U.S. official and another person familiar with the plan.
Industrialized nations including the United States and its European allies fear a wave of low-priced Chinese exports will overwhelm domestic manufacturing. On the U.S. side, there is particular concern that China’s green energy products will undermine massive climate-friendly investments made through the Democrats’ Inflation Reduction Act that President Joe Biden signed into law in August 2022.
Trump has floated the idea of levying massive tariffs against China in order to reduce the U.S. trade deficit with that country. He has repeatedly claimed that Biden’s support for EVs would ultimately cause American factory jobs to go to China. There are some indications that China is cooling its production of lithium-ion batteries used in EVs, cell phones and other consumer electronics at a time when it is facing increasing criticism from the West.
Lithium battery plants built in restricted farmlands or industrial zones should be shut down, the draft says.
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