The US Trade Representative (USTR) confirmed today that the start of new Section 301 tariffs on Chinese imports will be delayed by at least two weeks.
The tariffs will cover a wide range of markets, including electric vehicles (EV), critical minerals, and solar cells.
The USTR said in May those tariffs would take effect on August 1. Still, the USTR office is still reviewing 1,100 public comments received and now expects to issue a final determination later in August 2024.
The new tariffs will take effect approximately two weeks after the final determination is released, according to the USTR office.
More tariffs will be imposed in 2025 on products like semiconductors and in 2026 on natural graphite and non-EV lithium-ion batteries.
The US announced in May its plans to enact the 301 tariffs with duties ranging as high as 100% for Chinese EVs to 25% for critical minerals such as indium and tantalum.
We publish to analyze metals and the economy to ensure our progress and success in fierce competition.
No comments
Post a Comment