President Joe Biden speaks in the Rose Garden of the White House in Washington, Tuesday, May 14, 2024, announcing plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China. The Trump campaign on Tuesday said President Biden’s plan to quadruple tariffs on electric vehicles and other clean energy goods imported from China is part of a misguided effort to do away with gas-powered electric vehicles.
Tariff increases will apply to important steel and aluminum, legacy semiconductors, electric vehicle battery components, critical minerals, solar cells, cranes, and medical products from China. The new rates will range from 100% on electric vehicles to 50% for solar components to 25% for all other sectors and will be imposed over the next two years.
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