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US President Joe Biden is hiking tariffs on Chinese imports, including batteries and critical minerals, in a bid to bolster domestic manufacturing in critical industries.
“China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers,” the White House said in a The tariff rate on lithium-ion EV batteries will increase from 7.5% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on battery parts will increase from 7.5% to 25% in 2024.
China “resolutely opposes” the US president’s decision to raise tariffs on Chinese imports and sees the move as “political manipulation,” according to Beijing’s Ministry of Commerce, which urged the Biden administration to cancel the increased duties and correct what it called “wrongdoing.”
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