Chinese officials angrily vowed retaliatory measures after the White House announced that President Joe Biden’s administration would increase tariffs on certain imports from China, including quadrupling additional tariffs on electric vehicles to 100%.
Chinese Foreign Minister Wang Yi responded to the US action on Wednesday (15/5).
“I would like to emphasize that such unilateral and protectionist measures are contrary to the trend of the times and will surely be destroyed by the wheels of history. “At this critical moment of global economic recovery, the international community must warn the United States not to cause new problems for the world,” Wang said.
In addition to the 100% tariff on electric vehicles, the Biden administration also plans to implement new levies on electric vehicle batteries. Tariffs will also apply to shipments of certain types of semiconductors, solar cells and equipment used in the healthcare industry such as syringes.
Experts say there are a number of ways in which China might respond to the new tariffs. Some of these are likely to include imposing retaliatory tariffs on American goods entering China. reducing purchases of politically sensitive US agricultural products such as soybeans, or limiting sales of mineral products critical to producing electric vehicle batteries.
