A worker checks solar panels at a factory in Jiujiang in central China’s Jiangxi province on March 16, 2018. The Biden administration is planning to announce new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China.
Mr. Trump mocked the plan during his rally in New Jersey over the weekend. He said, if elected, he would consider imposing tariffs of 60% or more on all Chinese imports. White House officials say the action combats China’s unfair trade practices by targeting strategic sectors that are growing in the U.S. They say Beijing’s intellectual property threat has contributed to its control of 90% of the global production for the technology used to power infrastructure, energy and health care.
By implementing a steep increase in electric vehicle tariffs, the Biden administration aims to prevent a flood of cars made in China from hitting the U.S. market. China has not had a significant presence in the U.S. because existing tariffs virtually locked Chinese EVs out of the market years ago. Solar companies mostly export to the U.S. from other countries to avoid similar costs.
Source: Car News Wire (carnewswire.net)
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