President Joe Biden boards as departs on Marine One at Marina Green parking lot with the Golden Gate Bridge behind, Friday, May 10, 2024, in San Francisco. – The Biden administration plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China, according to a U.S. official and another person familiar with the plan.
The additional tariffs also carry some political heft going into the November presidential election. Both Biden and his presumptive Republican challenger, former President Donald Trump, have told voters that they'll be tough on China, the world's second largest economy after the United States and an emerging geopolitical rival.
Tuesday's announcement is expected to keep in place some tariffs that were imposed during Trump's administration, covering about $360 billion in Chinese goods. The new tax on imports would add products such as Chinese syringes and solar equipment. On Wednesday, China’s Ministry of Industry and Information Technology issued a draft rule aimed at “strengthening the management of the lithium-ion battery industry and promoting the sector’s high-quality growth.”
U.S. Trade Representative Katherine Tai is conducting a review of the Trump-era tariffs, and Republican lawmakers including House Ways and Means Committee Chair Jason Smith and Trade Subcommittee Chair Adrian Smith are urging a “swift conclusion” to the probe.
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