On May 14, 2024, President Biden is directing his Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China to protect American workers and businesses. The trade sectors impacted, the implementation schedule, and increases are all summarized as follows:
Steel and Aluminum
The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024.
Semiconductors
The tariff rate on semiconductors will increase from 25% to 50% by 2025.
Electric Vehicles (EVs)
The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024.
Batteries, Battery Components and Parts, and Critical Minerals
The tariff rate on lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on battery parts will increase from 7.5% to 25% in 2024. The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. The tariff rate for certain other critical minerals will increase from zero to 25% in 2024.
Solar Cells
The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024.
Ship-to-Shore Crane
The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024.
Medical Products
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.
