US imposes major tariffs on Chinese EVs and semiconductors
The United States recently imposed substantial tariffs on Chinese products, focusing particularly on electric vehicles (EVs) and semiconductors
US imposes major tariffs on Chinese EVs and semiconductors
The United States recently imposed substantial tariffs on Chinese products, focusing particularly on electric vehicles (EVs) and semiconductors. This move is expected to push China to expand its EV manufacturing within Asia, with Thailand emerging as a significant export hub, according to the Federation of Thai Industries (FTI).
President Joe Biden’s administration cited Beijing’s unfair trade practices as the reason for the tariff hike. EV tariffs will be quadrupled to 100%, solar cells and semiconductors will see tariffs doubled to 50%, and certain steel and aluminium imports from China will face a 25% tariff, more than triple the current level, according to reports.
China has reportedly vowed to take measures to protect its interests, said Kriengkrai Thiennukul, chairman of the FTI.
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