Financial news
Home
Knowledge Hub
Biden set to impose tariffs on China strategic sectors, source says
2024-05-10 09:37:02

|

WASHINGTON (Reuters) -U.S. President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors, according to a person familiar with the matter.


The full announcement, which could take place as soon as Tuesday, is expected to largely maintain existing levies, according to the person. An announcement could also be pushed back, the person said.


Details on the precise value or categories of tariffs that would be imposed were sketchy, but the administration was said to have zeroed in on areas of interest within strategic competitive and national security areas, the person said.


Biden, a Democrat seeking re-election in November, is looking to contrast his approach with that of Republican candidate Donald Trump, who has proposed across-the-board tariffs.


Specific sectors were set to include electric vehicles, batteries and solar equipment, according to Bloomberg News, which first reported the story.


The measures could invite retaliation from China at a time of heightened tensions between the world's two biggest economies.


In 2022, Biden launched a review of the Trump-era policy under Section 301 of the U.S. trade law. Last month, he called for sharply higher U.S. tariffs on Chinese metal products.


The Biden administration has also been pressuring neighboring Mexico to prohibit China from selling its metal products to the United States indirectly from there.


The White House declined to comment while the office of the U.S. Trade Representative did not immediately respond to a Reuters request for comment.

CREATE ACCOUNT

×
1
Personal Identification
2
Address Verification
3
Employment & Financial Profile
4
Trading Experience & Risk Awareness
5
Professional Account Eligibility
6
Source of Funds & Compliance
7
Corporate Entity Information
8
Review & Submit

Personal Identification

Please enter a valid email address.
Please enter a valid phone number.
Your password must be 6-20 characters long, contain letters, numbers and special characters, and must not contain spaces or emoji.
Password not match.
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required

Address Verification

This field is required
This field is required
This field is required

Employment & Financial Profile

This field is required
This field is required
This field is required
This field is required
(excluding property) (USD)
This field is required

Trading Experience & Risk Awareness

This field is required
This field is required
This field is required
This field is required

Professional Account Eligibility (Optional)

Source of Funds & Compliance

This field is required

Corporate Entity Information

Complete this section only if you're opening a corporate account

Review & Submit

Please review all information carefully before submitting. You can go back to any step to make changes.
This field is required
This field is required
This field is required

Registration Successful

Your account has been created successfully!