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Trade Tariffs: Difference between revisions
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=== May 14, 2024 === | === May 14, 2024 === | ||
<ref>https://www.whitehouse.gov/briefing-room/statements-releases/2024/05/14/fact-sheet-president-biden-takes-action-to-protect-american-workers-and-businesses-from-chinas-unfair-trade-practices/#:~:text=The%20tariff%20rate%20on%20battery,zero%20to%2025%25%20in%202024.</ref> | <ref>https://www.whitehouse.gov/briefing-room/statements-releases/2024/05/14/fact-sheet-president-biden-takes-action-to-protect-american-workers-and-businesses-from-chinas-unfair-trade-practices/#:~:text=The%20tariff%20rate%20on%20battery,zero%20to%2025%25%20in%202024.</ref> The US resident is directing increases in tariffs across strategic sectors such as steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes, and medical products. | ||
* The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024. | * The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024. | ||
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* The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024. | * The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024. | ||
* The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For certain personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber medical and surgical gloves will increase from 7.5% to 25% in 2026. | * The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For certain personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber medical and surgical gloves will increase from 7.5% to 25% in 2026. | ||
== References == | |||