New announcement soon that the existing 25% additional tariff rate will not be increased by four times – Analysis of measures conscious of Trump’s ‘tough stance on China’,
Joe Biden, the US President, speaks passionately at a campaign rally at the Wilmington Convention Center in Delaware on the 2nd. Wilmington=AP News,
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, “The Biden administration in the US is expected to increase the additional tariff rate on Chinese electric cars by four times the current rate. This sudden increase reflects the strong stance against China hinted at by former President Donald Trump, rapidly raising the level of ‘hitting China’,”
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, ‘On the 10th (local time), the Wall Street Journal reported, citing Biden administration officials, that the US will soon announce an increase in tariffs on Chinese clean energy-related products. The upcoming ‘, tariff increase includes raising the current 25% additional tariff rate on Chinese electric cars to 100%, ‘, and is also expected to involve tariff increases on other advanced products such as batteries and solar panels. The Biden administration plans to announce the new tariff measures as early as the 14th.’,
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, ‘This action is interpreted as a response to internal concerns in the US that China will outpace the US in the key eco-friendly product industry such as electric cars. Wendy Cutler, a former deputy USTR and current Vice President of the Asia Society Policy Institute, commented to the Financial Times in the UK that “‘,
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Former US President Donald Trump speaks to reporters after finishing the primary vote in Palm Beach, Florida on March 19. Palm Beach=AP News,
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, Interpreted as measures conscious of Trump’s tough stance on China in his bid to challenge re-election in the November US presidential election, “As president, Trump is considering applying a uniform tariff rate of over 60% to Chinese products if re-elected. The average tariff rate that the US imposes on Chinese goods is about 12%, but Trump aims to increase this by about five times. During his first term in office, Trump, the key figure who triggered a ‘trade war’ between the US and China by imposing high tariffs on Chinese products.”,
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, ‘President Biden has also recently clearly emphasized pressuring China. Last month, he instructed USTR to raise tariffs on Chinese steel and aluminum products from the current 7.5% to 25% and also decided to establish regulations this year to restrict Chinese investments in advanced technologies such as semiconductors and artificial intelligence (AI). The US Commerce Department canceled export licenses for Intel and Qualcomm to supply semiconductors to Chinese information technology company Huawei on the 7th. On the 9th, the Commerce Department added 37 Chinese companies to the ‘Entity List’ expressing concerns, emphasizing that “the current administration is exporting more Chinese companies than the previous administration (Trump administration).”‘,
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