Biden sharply hikes US tariffs on Chinese imports including chips, cars

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WASHINGTON, May 14 — US President Joe Biden today unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicle (EV) batteries, computer...

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‘Strategic thinker, introverted yet approachable’: Singapore’s next PM Lawrence Wong in the eyes of those who worked with him The new measures affect US$18 billion in imported Chinese goods including steel and aluminium, semiconductors, electric vehicles, critical minerals, solar cells and cranes, the White House said.The United States imported US$427 billion in goods from China in 2023 and exported US$148 billion to the world’s No. 2 economy, according to the US Census Bureau, a trade gap that has persisted for decades and become an ever more sensitive subject in Washington.

Administration officials said their measures are “carefully targeted,” combined with domestic investment, plotted with close allies and unlikely to worsen a bout of inflation that has already angered US voters and imperilled Biden’s re-election bid. Both 2024 US presidential candidates have departed from the free-trade consensus that once reigned in Washington, a period capped by China’s joining the World Trade Organization in 2001. Trump’s broader imposition of tariffs during his 2017-2021 presidency kicked off a tariff war with China.

 

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Biden sharply hikes US tariffs on billions in Chinese chips, carsWASHINGTON, May 14 — US President Joe Biden today unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and...
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