U.S. Implements High Tariffs On Chinese Goods

by Martin Armstrong
Armstrong Economics

Worsening relations with China, the United States just hit China with a new wave of extremely high tariffs. Around $18 billion worth of Chinese goods will be affected, but the White House deems the tariffs necessary to help American industry.

Washington wants everyone to drive an electric vehicle, so long as it is not produced in China. The current 25% tariff on Chinese EVs will rise to 100%, utterly eliminating any EV trade with China. US Trade Representative Katherine Tai said that tariffs on lithium-ion batteries, essential for EVs, will triple in 2025 – the same time that Washington expects the masses to curtail their fossil fuel use.

Semiconductors, a long-debated product in short supply, will double from 25% to 50%.

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