President Joe Biden is poised to unveil new tariffs on China as early as next week, focusing on strategic sectors, a source familiar with the matter revealed. The announcement, likely to occur on Tuesday, is expected to mostly maintain current levies.
While specifics regarding the tariffs’ value or categories remain unclear, the administration is honing in on areas of interest within strategic competitive and national security realms. The move contrasts with the broad tariff approach proposed by Republican candidate Donald Trump.
The targeted sectors are expected to include electric vehicles, batteries, and solar equipment, according to Bloomberg News. However, the potential retaliation from China looms large amidst heightened tensions between the two economic giants.
Biden initiated a review of the Trump-era policy under Section 301 of the U.S. trade law in 2022. Last month, he advocated for significantly higher U.S. tariffs on Chinese metal products. Additionally, his administration has been urging Mexico to block China from indirectly selling its metal products to the U.S.
