United States of America: Adopted Increased Tariffs on Imports from China
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Description
Adopted Increased Tariffs on Imports from China
On 14 May 2024, US President Biden directed the US Trade Representative to use their statutory powers under s.301 of the Trade Act of 1974 in response to alleged unfair trade practices by China. As a result, the import tariff rates are increased in a number of different sectors. Specifically, the tariff on semiconductors will increase from 25% to 50% by 2025.
Original sourceScope
Policy Area
International trade
Policy Instrument
Import tariff
Regulated Economic Activity
semiconductors
Implementation Level
national
Government Branch
executive
Government Body
central government