U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024.is set to announce new China tariffs as soon as next week targeting strategic sectors, including a major hike in levies on electric vehicles , according to three people familiar with the matter.
In revising the so-called "Section 301 tariffs," the Biden administration has zeroed in on industries that it says are of strategic competitive and national security areas, one of the people said. The U.S. Trade Representative's office made its recommendations to the White House weeks ago but a final announcement has been delayed due to internal discussions, sources said. It may come later than Tuesday, some sources said., who has proposed across-the-board tariffs that White House officials see as too blunt and prone to spark inflation. Trump has promised 60% or higher tariffs on all Chinese goods.
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