The White House has increased tariffs on a slew of Chinese imports predominantly targeting green technologies, including electric vehicles and solar panels, in a decision expected to deepen trade tensions with Beijing ahead of the US presidential election this fall.
The tariff hikes cover about $18 billion worth of imported goods from China against a US trade deficit that reached $280 billion in 2023. Along with batteries, semiconductors, and select raw materials, the aggregate amount accounts for 4% of US imports from China, and less than 1% of China’s total exports. Strangely, given the Covid-19 pandemic, they even apply to face masks.
Given the targeted...
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