White House announces new anti-China tariffs:
-Electric vehicles: from 25% to 100%
-EVs batteries: from 7.5% to 25
-Solar cells: from 25% to 50%
-Steel and aluminum: from 0%-7.5% to 25%The White House said the action was “carefully targeted at strategic sectors” which also included aluminium and steel, critical minerals, solar cells, port cranes and medical products. The tariffs would apply to $18bn worth of Chinese products, it said.
The US will quadruple the tariff rate on Chinese EVs to 100 per cent this year and roughly triple the rate on imports of steel and aluminium. The rate on Chinese semiconductors will be doubled from 2025. The tariff on solar cells will also be doubled this year to 50 per cent.
@PaellaAriaGreen2wks2W
“Steel and aluminum: from 0%-7.5% to 25%”
The Baltimore bridge just became the most expensive bridge in US history.
Everything just got more expensive. Curious how much steel and aluminum we import from China
@PaellaAriaGreen2wks2W
“Curious how much steel and aluminum we import from China”
China has 15x more steel capacity than the US.
Furthermore, China is the ONLY country in the world with the capacity to produce very large construction components.
“American steel fabricators don't have the capacity for a job like the Bay Bridge.”
I wonder what would happen if China responded, I won't export these items to the US unless the tariffs are removed?
@C1v1cDutySkylarDemocrat2wks2W
China relies on exporting their stuff abroad. they’ll still sell to us
Look at it from China's point of view: A 100% tariff means that the US government would get as much money as the Chinese exporter - and the US government would use much of that money to build weapons to threaten China. Besides, the US market is now relatively small and declining. Both China and Russia can prosper by importing and exporting to the Global South. The idea that the US is the indispensable nation has long ceased to be true.
@SwiftMayaWorking Family2wks2W
Wait we were told tariffs were stupid and don’t work for 4 years
@GenerousUn1onSocialist2wks2W
This demonstrates that the impetus behind energy transition is dictated more by the competition for technology leadership between USA and China than climate science. Europe is caught in the middle due to energy security concerns.
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