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May 16, 2024 Article/Editing: Graphics/Design:

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U.S. Announces New Tariffs On A Range of Chinese Goods

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This week, the U.S. introduced a new series of tariff increases on Chinese imports, amounting to over $18 billion worth of goods.

In the announcement, President Biden said they are aiming to “counter China’s unfair trade practices” by targeting specific sectors where the U.S. is boosting domestic production.

This graphic shows the new and current U.S. tariff rates set on a variety of Chinese imports.

Tariff rates and implementation years for the new rates come from The White House’s May 14 press release announcing the new tariff rate increases. Implementation years for the current rates comes from the Office of the United States Trade Representative (USTR) and United States International Trade Commission (USITC).

Tariff Raises on China Hit EV and Medical Industries

Below, we show the current and new tariff rates, as well as the implementation years for both, for a range of Chinese imports, as of May 14, 2024.

ImportCurrent rateNew rateImplementation year (current rate)Implementation year (new rate) Electric vehicles (EVs)25%100%20182024 Semiconductors25%50%20182025 Solar cells25%50%20182024 Syringes and needles0%50%N/A2024 Some steel and aluminium products*†7.5%25%20192024 Lithium-ion EV batteries7.5%25%20192024 Lithium-ion non-EV batteries*7.5%25%20192026 Battery parts*7.5%25%20192024 Some personal protective equipment (PPE)*†7.5%25%20192024 Rubber medical and surgical gloves*7.5%25%20192026 Natural graphite and permanent magnets0%25%N/A2026 Other critical minerals0%25%N/A2024 Ship-to-store cranes0%25%N/A2024

†Current rate for steel and aluminium products and personal protective equipment ranges from 0 to 7.5%.

*Tariffs implemented in 2019 started at 15% and were reduced to 7.5% in January 2020

The U.S. directed many of its new tariff increases on the Chinese EV industry, targeting imports such as semiconductors, lithium-ion batteries, and other battery parts.

Notably, tariffs on electric vehicles from China were bumped to 100% and new tariffs on certain critical minerals, which are essential for manufacturing battery parts and semiconductors, were introduced.

Medical-related products, such as medical and surgical gloves and certain