US imposes high tariffs on imports of several Chinese products, including semiconductors
The Biden administration has imposed high tariffs on several Chinese goods imported into the United States. However, the Ministry of Commerce of China has opposed this move. News BBC.
In a statement, the White House said tariffs on $18 billion worth of imports have been increased. These include steel and aluminum, semiconductors, batteries, critical minerals, solar cells and cranes.
The statement also said that the duty on import of electric vehicles has been quadrupled to 100 percent. The duty on semiconductors has been increased from 25 to 50 percent.
However, China did not take this step of the United States well. The Ministry of Commerce of the country opposed this step of the United States. Beijing also called on Washington to withdraw such a decision.
China has said that they will take appropriate steps to protect their interests.
In 2023, Washington imported 427 billion dollars’ worth of goods from Beijing. And exported 148 billion dollars’ worth of goods.
The Biden administration took this decision ahead of the US presidential election. Biden's opponent in the next November election will be the Republican candidate former President Donald Trump. While in office, Trump similarly raised tariffs on Chinese imports.
