At a glance
- What changed
- Client Advisory: New China Tariffs announced by President Biden
- Who is affected
- Mining
- Business impact
- On May 14th, 2024, President Biden announced new tariffs on $18 billion worth of Chinese imports. The targets of the tariffs include: Electric Vehicles (EVs), Solar cells, Steel, Aluminum, Semiconductors, Advanced batteries, Critical…
On May 14th, 2024, President Biden announced new tariffs on $18 billion worth of Chinese imports. The targets of the tariffs include: Electric Vehicles (EVs), Solar cells, Steel, Aluminum, Semiconductors, Advanced batteries, Critical minerals, Solar and medical products.
More tariffs will follow in 2025 and 2026 on semiconductors, as well as lithium-ion batteries that are not used in electric vehicles, graphite and permanent magnets as well as rubber medical and surgical gloves.
What does this mean to an Exporter/Importer?
US. Importer/Exporter, please be aware of the situation and start preparations early for the upcoming changes.
If you have any queries relating to the above, please don't hesitate to contact our Trade Advisory teams, or reach out here
Need help understanding your exposure?
Crane Trade Consulting can help assess tariff impacts, validate exclusions and develop practical mitigation strategies.