China has accused Washington of “trampling on the principles of the market economy and the rules of international trade and economic cooperation,” behavior it has called “blatant bullying.”
The president of United States, Joe Bidenannounced this Tuesday protectionist measures based on new tariffs worth 18 billion dollars on imports of products from China, of which the most punished are electric vehicles with taxes that go from 25% to 100%.
The new tariffs affect sectors described by the White House as “vital to the economic future and national security of the United States”such as steel, aluminum, semiconductors, electric vehicles, batteries, solar panels, ship unloading cranes and medical products.
The announcement occurs in full campaign for the November 5 elections and at a time when Biden, who is seeking re-election, has adopted an increasingly harsh tone with China despite having opened a dialogue with Beijing, in an attempt to win over the US working class and alienate it. of former President Donald Trump (2017-2021), future Republican candidate.
Some of the tariffs announced by the White House in a statement would come into force in 2025 or 2026, so their implementation will actually depend on who wins the elections.
The most forceful tariff affects the electric vehicles and will go from 25% to 100% this year. This enormous increase responds to the substantial increase in exports of electric vehicles from China to the United States, which grew by 70% between 2022 and 2023, something that Washington perceives as a threat to the development of the domestic market for these automobiles.
Another significant tariff increase falls on the batteries used in electric vehicles, a market that China controls 80% thanks to its dominance in the mining, processing and refining of critical minerals.
Specifically, according to the White House, tariffs on lithium-ion batteries will rise from 7.5% to 25% this year, while the tariff on lithium-ion batteries not intended for electric vehicles will increase from 7.5%. % to 25% in 2026.
In the area of clean energy, tariffs on solar panels, which will go from 25% to 50% this year. Semiconductors will suffer the same increase, although in that case the increase will take place in 2025.
The White House has also announced tariffs on unloading cranes of ships, which will go from 0% to 25% this year, and on medical products.
China will “take all necessary measures” to “protect its legitimate rights and interests”
For its part, the Chinese Government has assured that it will “take all necessary measures” to “protect its legitimate rights and interests.” The spokesperson for the Chinese Foreign Ministry Wang Wenbin has stated that China “has consistently opposed the unilateral imposition of tariffs that violate World Trade Organization rules.”
The spokesman has accused Washington of “trample the principles of the market economy and the rules of international trade and economic cooperation”, a behavior that he has described as “thuggery blatant intimidation.”
Wang has also criticized “that the United States calls its product exports ‘free trade'”, but that it calls “industrial excess capacity” the fact that China “exports goods with comparative advantages.”
Besides, the China Automobile Manufacturers Association has called US tariffs “protectionist and isolationist” actions.
Source: Eitb
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