Biden Cracks Down: To Reimpose Tariffs On Chinese Goods To Strengthen US Industry

Biden Cracks Down: To Reimpose Tariffs On Chinese Goods To Strengthen US Industry

The decision was announced by the US Trade Representative (USTR) as part of a broader strategy to boost duties in key sectors.

Oliviya KunjumonUpdated: Saturday, May 25, 2024, 01:55 PM IST
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US President Joe Biden | X

The US President Joe Biden's administration in a move to protect American manufacturing is reintroducing tariffs on a wide range of goods imported from China.

The decision was announced by the US Trade Representative (USTR) as part of a broader strategy to boost duties in key sectors.

Tariff and Exclusions

The US is letting tariff exclusions for almost half of the 400 products that were previously spared from these duties. Meanwhile, 164 products of these exclusions will keep their exemptions until next May. However, all the current exemptions, which are about to expire, will be extended until June 14. Thus, this brief extension provides a transition period for those exclusions not being renewed.

Continued Exclusions

Although, certain products will continue to benefit from the tariff exclusions until next May which include various types of Motors, medical equipment, specific backpacks, safety seats and some variety of crab meats. The products were chosen for continued exclusion based on their importance and lack of alternative sources outside China.

The recent action by the Biden administration represent a continuation of these trade policies, which aims to bolster the American industries

The recent action by the Biden administration represent a continuation of these trade policies, which aims to bolster the American industries | Representative Image

Ended Exclusions

However, exclusion for over 100 products will not be renewed, mostly due to their absence of public comments demanding their extension. Meanwhile, for other products, the public comments failed to demonstrate that extending the exclusions would shift sourcing away from China or prove that these imports are unavailable from other sources.

Tariff Increases

This reimposition of tariffs is part of a larger plan and the administration earlier has already announced significant tariff increases on Chinese electric vehicles, semiconductors, batteries, solar cells, and critical minerals. In addition, these measures are a response to concerns about intellectual property theft by China.

These tariffs were initially imposed by President Donald Trump starting in 2018.

However, the recent action by the Biden administration represent a continuation of these trade policies, which aims to bolster the American industries and reduce the dependency on Chinese Imports.

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