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Significant increase in US tariffs on Chinese exports

US President Joe Biden announced a significant increase in tariffs on Chinese products, especially electric cars.
– International news

According to the international group Tasnim News Agency, US President Joe Biden on the significant increase in tariffs on some Chinese products, especially electric car batteries, computer chips and medical products announced.

He noted that he did this action in compliance with the international trade law. Before me, President Donald Trump promised to increase exports to China, but he failed to do so.

According to the new law, China’s electric vehicle tariff will be quadrupled and the import of solar cells and semiconductors will be subject to a 50% tariff. In addition, the import tariff of cranes will increase from zero to 25%, the tariff of some medical tools, including syringes and needles, will increase from zero to 50%, and the tariff of some personal protective equipment used in medical equipment will increase from almost zero to 25%. The shortage of personal protective equipment, which is mass-produced in China, caused a lot of damage to the United States during the corona epidemic.

Accordingly, 18 billion dollars of Chinese imported products including steel and aluminum, semiconductors, electric vehicles, materials Vital minerals and solar cells are affected by this new law.

After announcing these tariffs, The Ministry of Foreign Affairs and Commerce of China, while criticizing it, announced that they will quickly take the necessary retaliatory action. The Minister of Commerce of this country stated that Beijing is strongly against the increase of tariffs on its products and Beijing will take necessary measures to protect its legitimate interests.

During his presidency, Trump imposed tariffs on two-thirds of China’s imported goods, and since then the economic war between the two countries has intensified.

Meanwhile, Janet Yellen the other day US Treasury Secretary stated that Washington may face a significant response from Beijing for any tariff action.

He added to reporters: He and other American officials It has been made clear to China that they may first re-adjust the more strategic tariffs related to the Trump administration, but any changes in this regard are desirable. white”>.

Yellen expressed that President Biden believes that whatever we have to do is the cause of our concern and is not comprehensive and comprehensive, and we hope not to face a significant and retaliatory response from Beijing. But everything is always possible. We also hope that China will understand that our actions are targeted and we will do our best to be targeted and we will see what happens.

Meanwhile, Joe Biden seeks to differentiate his view of China from Donald Trump, who has proposed nationwide tariffs. Trump has also promised to impose tariffs of 60 percent or more on all Chinese goods.

The application of this tariff may cause the Chinese government to retaliate when tensions rise. There are growing differences between these two major world economies.

Meanwhile In the US government, there have been preliminary discussions about sanctioning Chinese banks because of the country’s support for Russia in the war against Ukraine, but officials told Reuters that the government does not yet have a plan to do so.

This is despite the fact that Washington has so far stopped some of the sanctions on China’s main banks due to the effects it may have on the global economy and relations between the two countries.

At the same time, Washington has imposed sanctions on various Chinese companies, companies that Washington accuses of cooperating with China’s military industries, despite the denial of these companies. has done. American sanctions have also been imposed on Chinese individuals and institutions that are accused of violating human rights in the Xinjiang region.

In recent months, relations between America and China have witnessed There are signs of improvement as both sides take steps to re-establish communication channels after growing tensions between them in recent decades.

Yellen’s warning about China’s response to the US tariff action

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© Webangah News Hub has translated this news from the source of Tasnim News Agency
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