Biden Announces Tariff Increases on $18 Billion in Chinese Imports to Combat Unfair Trade Practices.

US President Joe Biden has announced increases in tariffs under Section 301 of the Trade Act of 1974 on USD 18 billion (EUR 16.7bn) of imports from China, including solar cells, batteries, and electric vehicles (EVs). The move is intended to counter China’s unfair trade practices, which the US sees as posing “unacceptable risks” to its supply chains and economic security. Other tariffs will increase across strategic sectors such as steel and aluminum, semiconductors, critical minerals, ship-to-shore cranes, and medical products. Solar cells, whether or not assembled into panels, will have a tariff rate rise from 25% to 50% in 2024. The tariff rates on lithium-ion EV batteries and battery parts are both set to increase from 7.5% to 25%, while non-EV batteries will also increase in 2026.