WASHINGTON/SAN FRANCISCO -U.S. President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors including electric vehicles, according to two people familiar with the matter.
Details on the precise value or categories of tariffs that would be imposed were sketchy, but the administration was said to have zeroed in on areas of interest within strategic competitive and national security areas, one of the people said. The White House and the office of the U.S. Trade Representative declined to comment. Bloomberg News first reported the story.
Both 2024 candidates have sharply departed from the free-trade consensus that once reigned in Washington, a period capped by China's joining the World Trade Organization in 2001. The Biden administration has also been pressuring neighboring Mexico to prohibit China from selling its metal products to the United States indirectly from there.