this post was submitted on 14 May 2024
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204
Biden announces new tariffs on Chinese EVs, semiconductors, solar cells and more (lemmy.ml)
submitted 6 months ago by yogthos@lemmy.ml to c/news@hexbear.net
48 comments fedilink hide all child comments
 

https://www.whitehouse.gov/briefing-room/statements-releases/2024/05/14/fact-sheet-president-biden-takes-action-to-protect-american-workers-and-businesses-from-chinas-unfair-trade-practices/

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[–] WashedAnus@hexbear.net 74 points 6 months ago (7 children)

For those who don't want to click the link:

  • The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024.
  • The tariff rate on semiconductors will increase from 25% to 50% by 2025.
  • The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024.
  • 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.
  • The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. The tariff rate for certain other critical minerals will increase from zero to 25% in 2024.
  • The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024.
  • The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024.
[–] goferking0@lemmy.sdf.org 42 points 6 months ago

Didn't car companies just announce they were canceling battery orders due to price?

Why are we fucking doing tariffs (╯°□°）╯︵ ┻━┻)

[–] Tunnelvision@hexbear.net 34 points 6 months ago

Damn this is actually worse than I thought.

[–] MayoPete@hexbear.net 33 points 6 months ago

Damn, really trying to catch up to W for the title of "dumbest modern President"

[–] DerRedMax@hexbear.net 31 points 6 months ago (1 children)

But we NEED ship to shore cranes we don’t have enough [US Flagged] for the construction that’s already underway, most of which was paid for by

Oh. The Joseph Robinette Biden Built Back Better Bill. Huh.

So this will affect like everything that costs money. Cool.

[–] PolandIsAStateOfMind@lemmygrad.ml 12 points 6 months ago

So this will affect like everything that costs money. Cool.

Steel and aluminium going to 25% gonna have excellent effects on any infrastructure construction and maintenance and industrial manufacturing still left in the USA.

[–] PolandIsAStateOfMind@lemmygrad.ml 13 points 6 months ago

This sounds like excellent idea, carry on.