Biden administration unveils new tariffs on Chinese imports, including EVs

The Biden administration unveiled a series of new tariffs on Chinese goods. This will impact $18 billion in imports, including electric vehicles (EVs).

“China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers,” the White House said in a press release announcing the increased tariffs.

The release also highlighted China’s flooding of global markets with artificially low-priced exports.

“China’s forced technology transfers and intellectual property theft have contributed to its control of 70, 80 and even 90% of global production for the critical inputs necessary for our technologies, infrastructure, energy and health care — creating unacceptable risks to America’s supply chains and economic security,” the White House said.

According to the White House, the previous administration’s trade deal with China fell short of its promises to boost American exports and manufacturing.

“We know China’s unfair practices have harmed communities in Michigan and Pennsylvania and around the country that are now having the opportunity to come back due to President Biden’s investment agenda,” Lael Brainard, who directs the White House National Economic Council, told reporters.

The new tariffs will take effect over the next three years. Tariffs increasing this year cover goods such as EVs, batteries, solar cells, medical products — including syringes and needles — as well as steel and aluminum. Notably, the tariff rate on EVs will increase from 25% to 100%.