(Washington) The United States plans to increase tariffs on Chinese clean energy products and taxes on electric vehicles are expected to increase fourfold, according to a report in the Wall Street Journal (WSJ) published Friday.
The move would come at the end of a long-awaited reassessment of tariffs imposed during the trade war between Washington and Beijing.
Then-President Donald Trump imposed tariffs on some $300 billion in goods from China, and Joe Biden’s administration began a review of those measures.
The decision, expected Tuesday according to media reports, would also come as the American president prepares to face his Republican opponent again in the November presidential election.
According to the WSJ, the increased tariffs are expected to particularly impact essential minerals, solar energy products and batteries from China. The rate of customs duties on electric vehicles should also increase from 25% to around 100%, specifies the economic daily.
This is unlikely to be an immediate blow to Chinese automakers, which do not have a large presence in the United States. But the authorities seem to want to protect themselves against Chinese imports.
Treasury Secretary Janet Yellen recently warned that China’s overcapacity risks causing a flood of low-cost goods onto the global market, potentially impacting booming U.S. industries.
The tariff measures would also be a continuation of previous initiatives, such as the recent investigation into the national security risks posed by Chinese automotive technologies.
Washington also launched an investigation into China’s trade practices in the shipbuilding sector, prompting a furious response from Beijing.
Last month, Joe Biden called for tripling tariffs on Chinese steel and aluminum, while denying the existence of a trade war with China.