Asia & Pacific

US Poised to Levy New Tariffs on China’s ‘Green Tech’

White house

The United States may be about to impose new taxes on select sectors of China’s green industry, Bloomberg reports, citing people familiar with the matter.According to the outlet, the new tariffs will focus on areas such as solar cells, electric vehicles and batteries, with the existing tariffs apparently remaining the way they are.The White House’s decision on these tariffs is expected to be announced on Tuesday, although it may be delayed.This move apparently comes after a review of Section 301 tariffs that were implemented during Donald Trump’s time in the Oval Office, the media outlet notes. News of this development comes after US Treasury Secretary Janet Yellen and Secretary of State Antony Blinken attempted to persuade China to enact measures that would essentially slow down its economic growth. EconomyRussia-China 2024 Trade Growth Overshadows Relevant China-US Figures9 May, 06:32 GMTMoreover, in April, President Joe Biden called to raise tariffs on Chinese steel and aluminum imports, as the American government doubles down on its protectionist measures – all while urging other nations to keep their markets open to the American companies. Also last month, US lawmakers introduced a law that will result in social media app TikTok being banned in the United States unless its owner, a Chinese company called ByteDance, sells it. Relations between the United States and China soured during the presidency of Donald Trump who attempted to wage a de facto trade war against Beijing by levying tariffs on Chinese imports.

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