US locks in steep China tariff hikes, many to start Sept. 27

Quick Summary:

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 final tariff decision does provide some temporary relief for U.S.port operators who were facing a new 25% tariff on massive ship-to-shore cranes, an industry that China dominates with no U.S.producers.

The agency also said it will consider requests for tariff exclusions for five Chinese industrial machinery categories, including those for machinery for purifying or filtering liquids, industrial robots and printing machinery.

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Category: EconomyBusiness

Markets: MalaysiaCanadaChina

Topics: Economy Electric vehicles US Semiconductor EV /Business/Business News Tariff Solar

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Published On: 2024-09-13 @ 21:25:00 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

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