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The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to strengthen protections for strategic domestic industries from China's state-driven excess production capacity. The U.S. Trade Representative's said that many of the tariffs, including a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals, would go into effect on Sept. 27. https://lnkd.in/eVyX3Ahu

🚨 **Biden’s $18 Billion Tariff Bombshell!** 🚨 Get ready for a major shake-up in U.S.-China trade relations. 🚗💥 Electric vehicle duties are set to soar from 25% to a staggering 100%! 📈 But that's not all – tariffs are hitting key sectors like steel, semiconductors, and solar panels. ⚙️🔋 The White House is taking a bold stand on national security and economic stability. 🏛️🇺🇸 Discover how these new tariffs could reshape the market and what it means for the future. 🌐 China has vowed to safeguard its interests – a trade showdown is imminent! ⚔️🇨🇳 Don’t miss the full story! 🔍👇 https://lnkd.in/gEPc988n @karmactive #TradeWar #BidenTariffs #ElectricVehicles #USChina #EconomicPolicy #BreakingNews #GlobalMarket #Karmactive

😅 - Will the recent tariff rate increase by the US government push Chinese companies to establish plants in the US, or will they reconsider their presence in the US market altogether? - also the future of BYD’s Mexican plant remains uncertain… (Reuters) -The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to boost protections for strategic industries from China's state-driven industrial practices. The U.S. Trade Representative's office said that many of the tariffs, including a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals, would take effect on Sept. 27.

[Korean industries gauge impact of Biden's steep tariffs on China] Korea is closely evaluating potential impacts on its key manufacturing sectors in response to steep US tariff hikes on key Chinese imports hoping to capitalize on any advantages while bracing for potential supply chain disruptions globally. US President Joe Biden on Tuesday announced tariff hikes against Chinese imports, targeting a range of products including electric vehicles, legacy semiconductors, advanced batteries, battery components, solar cells, steel, critical minerals, aluminum and medical equipment, based on what the administration describes as unfair trade practices. The new policy will see tariffs on Chinese electric vehicles jump from 25 percent to an unprecedented 100 percent, and on lithium-ion batteries rise from 7.5 percent to 25 percent, with similar increases on essential minerals like natural graphite and permanent magnets slated for gradual implementation by 2026. Analysts say Biden's aggressive tariff plan is likely motivated by concerns about protecting strategic American industries such as clean energy and semiconductors with targeted tariffs, particularly during this election year in which he faces Trump, who has backed trade confrontation with China. The new tariffs, which will take effect over the next two years, could reshape market dynamics, particularly affecting countries like Korea that are deeply integrated into the high-tech global supply chain. Chinese-made electric vehicles, including Tesla models produced in Shanghai, have minimal presence in the US market, but the ripple effects of these tariffs could extend far beyond US shores. Tap below to read full story. #US #America #Joe #Biden #tariff #China #EV #Korea #industry #business #supply #chain #disruption #tech #technology #market #lithium #battery #semiconductor https://lnkd.in/e967SdiA

"US president, Joe Biden, raised tariffs on Chinese-made goods sharply in May, claiming that the “Chinese government has cheated by pouring money into Chinese companies … hurting competitors who play by the rules”. The tariffs are 25% on steel and aluminium, 50% on semiconductors and solar panels, and 100% on electric vehicles. Under Biden’s presidency the US has embarked on an ambitious strategy to revive American high-tech industries and become less reliant on foreign imports, especially from China. This strategy has included pumping massive subsidies into the renewables and semiconductor industries. The tariff hikes are clearly part of this strategy and shouldn’t come as a surprise to those who have followed US trade and industrial policy in recent years. But the double standards of these policies, particularly the recent tariffs, need to be addressed. For years, Democratic and Republican administrations in the US have touted the virtues of free trade to the rest of the world, working towards establishing a multilateral trading system that limits the use of protectionist policies. The formation of the World Trade Organization (WTO) is a great example of this. During the years of negotiations in the 1980s and 1990s that led to the formation of the WTO, a small group of powerful countries – led by the US and influenced by large corporations based in the US – used their power and influence to rewrite the rules of international trade to their advantage." Read the rest of this interesting article.

In the wake of new tariffs on Chinese EVs and solar cells by the Biden administration, a key focus has emerged on protecting domestic industries and addressing trade imbalances. These tariffs represent a strategic move to curb Chinese market dominance and bolster U.S. manufacturing capabilities. Meanwhile, the European Union is poised to increase tariffs on Chinese EVs as well, setting the stage for negotiations. China, in response, is considering a mix of tariff adjustments to maintain access to the European market, crucial for its EV sector's growth amid declining margins domestically. Both the EU and China are expected to seek a compromise to avoid a full-blown trade war, with significant economic implications for automakers on both sides. In essence, while the U.S. approach is more unilateral and protectionist, the EU is leaning towards a negotiated settlement, highlighting differing strategies in dealing with China's burgeoning EV market. References: https://lnkd.in/dSuiUPhm https://lnkd.in/djctCfzv

What do higher tariffs on Chinese imported goods mean for businesses in the energy industry? Increased costs for materials will inevitably lead to higher development expenses. Combined with rising interest rates, this could stifle clean energy projects, making them financially unviable. However, with the prices of imported goods rising, we might see a boost in domestic production and job creation, as companies focus on producing these products locally. Manufacturing plants and supply chains take time to mature, but with fiscal support from Washington via the #CHIPSact and the #IRA, the timelines could be shorter than expected. China has long been accused of subsidizing certain market sectors, giving them an unfair advantage in the global markets. Given the collapse of their real estate industry and prolonged pandemic restrictions, the Chinese government is now strongly motivated to drive economic development domestically. What are your thoughts on how these tariffs will shape the energy industry? #tradepolicy #cleanenergy #macroeconomics #economics #supplychain #batteries #solarpanels https://lnkd.in/emwUa3CB

Biden Administration imposes sweeping tariff increases on Chinese imports in effort to address unfair trade practices while advancing U.S. clean energy economy Tariffs on Chinese electric vehicles, batteries, and solar cells will increase significantly as President Biden asserts China has flooded global markets with artificially low-priced exports to the detriment of the American worker and economy. President Joe Biden has taken action to substantially increase tariffs imposed on a wide range of Chinese products across various strategic sectors, including those that directly impact the clean energy economy. The higher tariffs will impact the prices of electric vehicles, batteries, critical minerals, and solar cells. Higher tariffs will also extend steel and aluminum, ship-to-shore cranes, and medical products. As justification for the move, the Biden Administration points to China’s unfair trade practices concerning technology transfer, intellectual property, and innovation that are threatening American businesses and workers. Further explanation for the administration’s course of action and the specific tariff increases are set forth in a fact sheet issued by the White House titled President Biden Takes Action to Protect American Workers and Businesses from China’s Unfair Trade Practices. This story can be read in its entirety on the Wolters Kluwer Vital Law site (no paywall) at https://lnkd.in/dTGqQNEx. As reported by Brad Rosen. #Tariffs #ChineseImports  #UnfairTradePractices #EVs #CriticalMinerals #CleanEnergyEconomy

President Joe Biden is calling on the U.S. Trade Representative to triple the China tariff rate on steel and aluminum imports as he makes the rounds in the key battleground state of Pennsylvania. On Wednesday, the president will visit the United Steelworkers headquarters in Pittsburgh. Biden’s demand to raise the current 7.5% average tariff on steel and aluminum is an effort to make clear that his administration’s recent warnings about China’s trade practices are not empty threats. On a visit to China last week, Treasury Secretary Janet Yellen raised concern that Chinese subsidies were creating an oversupply of clean energy products, like solar panels and electric vehicles, that would outpace domestic demand. She worried that overcapacity could be dumped on global markets at artificially cheaper prices, potentially stifling competition. In an interview with CNBC’s Sara Eisen, Yellen said that tariffs were not off the table if those overcapacity qualms went unaddressed. Chinese officials and state media have since denied the overcapacity accusation, saying that its abundance of supply of clean energy products is a result of “constant innovations,” not government subsidies. As China shrugs off the overcapacity concerns, the Biden administration is doubling down on what it perceives as the threat to global trade. “China’s policy-driven overcapacity poses a serious risk to the future of the American steel and aluminum industry,” National Economic Council Director Lael Brainard said on a call with reporters on Tuesday. “China cannot export its way to recovery. China is simply too big to play by its own rules.” Biden’s escalated push to hike tariffs comes as he balances election-year politics with a fragile geopolitical landscape and heightened concerns about the strength of the U.S. economy. On the one hand, the White House is still working to thaw relations with China after several years of near-frozen communication, in part sparked by former President Donald Trump’s initial round of China tariffs, which almost triggered a full-fledged trade war. Tariffs can also have unintended economic ripple effects by raising U.S. manufacturing costs that may ultimately translate to higher consumer prices. That would be an unwelcome result during a time when Biden is already in the middle of a yearslong battle to bring down stubborn inflation and prove to voters that his economic agenda is working. A senior administration official on Tuesday rejected the notion that tariff hikes would lead to higher inflation. “If taken these actions will not increase inflation, but they will protect American jobs and steel industry,” the official said on a call with reporters. “Residual inflation is not coming from goods, these actions will not change that.” Biden will also reiterate his opposition to the proposed sale of U.S. Steel to Japan’s Nippon Steel.

💵 Trump’s Tariff Plan: A Game-Changer for Global Trade? 🚨 Breaking News: Trump has vowed to impose 25% tariffs on all imports from Canada and Mexico, alongside an additional 10% on Chinese goods on his first day in office. For Chinese imports, this is on top of existing levies, potentially reshaping global supply chains. 🚗 While the EV market is showing resilience by adapting to non-Chinese supply chains—evident from the decline in Chinese LFP battery market share from 13% in 2023 to 7% YTD—the energy storage sector tells a different story. 🔋 With LFP batteries dominating 90% of the market share in BESS (Battery Energy Storage Systems), these new tariffs could be a major disruptor. LFP cells currently face a 7.5% tariff, set to rise to 25% in 2026. Under Trump’s proposed policy, tariffs could exceed 40% by 2025 and 60% in 2026, putting immense pressure on storage solutions reliant on Chinese imports. 🏭 The challenge? US-based LFP manufacturing is still in its infancy. Only a few players are set to begin production in 2025, at higher costs and with insufficient volumes to meet surging demand. 🕰️ What’s next for the industry? 1️⃣ Continued reliance on Chinese LFP cells despite skyrocketing costs. 2️⃣ A potential resurgence of nickel-based batteries as an alternative. 3️⃣ A possible slowdown in storage sector demand as costs escalate and uncertainty looms. 📊 What’s your take? Will these tariffs accelerate domestic production or hinder the energy storage sector’s growth? Let’s discuss in the comments! #Tariffs #GlobalTrade #EnergyStorage #LFPBatteries #EVMarket #BatteryManufacturing #TradePolicy