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US President Biden plans new tariffs on China targeting key sectors

Shafaq News/ US President Joe Biden is set to unveil new tariffs on China, focusing on industries such as electric vehicles, people familiar with the matter told Reuters.

The formal announcement next Tuesday is expected to maintain existing tariffs, with sector-specific adjustments expected, according to one source. However, the announcement schedule remains fluid and potential delays may occur.

According to one of the sources, the sectors include semiconductors and photovoltaic equipment. Exact details about fare values ​​or categories remain unclear. However, according to one source, the administration has focused on strategic areas consistent with the interests of competitiveness and national security.

The recommendations from the U.S. Trade Representative’s office were forwarded to the White House several weeks ago. Nevertheless, according to insiders, the final announcement has been postponed due to internal deliberations.

The Biden administration, seeking to distinguish itself from former President Donald Trump’s sweeping tariff proposals, views blanket tariffs as overly simplistic and inflationary, White House officials have revealed.

Both the White House and the office of the U.S. Trade Representative declined to comment on the matter. Bloomberg News initially broke the story.

These anticipated measures could trigger retaliatory actions from China amid heightened bilateral tensions. During his presidency, Trump’s expansionary tariff policies led to reciprocal tariffs from China.

In particular, Biden emphasized his desire to avoid a trade war with China while acknowledging increased competition between the two nations.