On May 14, the US released the results of its four-year review of the 301 tariffs imposed on China, announcing that on the basis of the existing 301 tariffs, the US will further increase tariffs on electric vehicles, lithium batteries, photovoltaic cells, key minerals, semiconductors, steel and aluminum, port cranes, personal protective equipment and other products imported from China. China is firmly opposed to and has lodged stern representations.
Out of domestic political considerations, the US has abused the 301 tariff review process, further increased the 301 tariffs on some Chinese products, and politicized and instrumentalized economic and trade issues, which is a typical political manipulation. China expresses strong dissatisfaction with this. The WTO has already ruled that 301 tariffs violate WTO rules. Instead of correcting it, the US has stuck to its course and made repeated mistakes.
The increase of 301 tariffs by the US side violates President Biden's commitment of "not seeking to suppress or contain China's development" or "not seeking to decouple and break the chain" from China, and is also not in line with the spirit of consensus reached by the two heads of state, which will seriously affect the atmosphere of bilateral cooperation. The US side should immediately correct its wrong actions and cancel the additional tariff measures against China. China will take resolute measures to safeguard its own rights and interests.
Here's a look at the latest U.S. tariffs:
Steel and aluminum: 0-7.5%; 25%;
Semiconductor 25%, 50%;
Electric vehicle: 25%, 100%;
Battery, raw materials: 0-7.5% "25%"
Solar energy: 25%-50%;
Shore crane: 0%; 25%;
Masks will increase to 25% by 2024
Medical gloves will increase to 25% by 2026
Syringes and needles will increase to 50% by 2024
Natural graphite increased to 25% in 2026
Other key minerals to 25% by 2024
Permanent magnets will increase to 25% in 2026
