Sept. 21, 2024, 5:26 p.m.

USA

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Some of the US tariffs on China went into effect on August 1

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The United States has imposed tariffs on a range of Chinese imports, some of which will take effect on August 1, the Office of the U.S. Trade Representative said Wednesday.

According to Reuters, US President Joe Biden will keep the tariffs imposed under former President Donald Trump, while raising others, such as quadrupling the tariff on electric vehicles to 100 percent this year; The semiconductor tariff rate will increase from 25 percent to 50 percent by the end of next year.

The office of the United States Trade Representative said a 30-day period for soliciting public comments would end on June 28. They are seeking comments on the impact of recently proposed tariffs on the U.S. economy, including consumers.

The White House announced it would impose tariffs on US $18 billion (S $24.4 billion) worth of Chinese imports, including electric vehicles, lithium batteries, photovoltaic cells, critical minerals, semiconductors, steel and aluminium, and port cranes.

The increase in tariffs on electric vehicles, while dramatic, is likely to have more political impact than practical because of the small number of Chinese electric vehicles imported into the United States.

For medical products, the authorities are seeking public comment on whether tariffs on masks, medical gloves, syringes and needles need to be raised higher than originally proposed.

Last year, the US imported $427bn in goods from China and exported $148bn, according to the US Census Bureau.

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