Upcoming trilateral meeting with Japan and China will likely focus on trade tensions and South Korea’s position
U.S. President Joe Biden has directed the U.S. Trade Representative (USTR) to maintain existing tariffs on Chinese goods and increase duties on various products, following a 4-year review of actions taken under Section 301 against China’s practices related to technology transfer, intellectual property and innovation.
The USTR will raise tariffs on Chinese products, including batteries, electric vehicles, semiconductors, solar cells, steel, aluminum and personal protective equipment, with increases ranging from 25% to 100% between 2024 and 2026. The USTR will also establish an exclusion process for certain machinery used in U.S. manufacturing, prioritizing some solar manufacturing equipment.
U.S. President Joe Biden has directed the U.S. Trade Representative (USTR) to maintain existing tariffs on Chinese goods and increase duties on various products, following a 4-year review of actions taken under Section 301 against China’s practices related to technology transfer, intellectual property and innovation.
The USTR will raise tariffs on Chinese products, including batteries, electric vehicles, semiconductors, solar cells, steel, aluminum and personal protective equipment, with increases ranging from 25% to 100% between 2024 and 2026. The USTR will also establish an exclusion process for certain machinery used in U.S. manufacturing, prioritizing some solar manufacturing equipment.
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