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25%→50%! The United States Increases Tariffs on Chinese Solar Cells!
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25%→50%! The United States Increases Tariffs on Chinese Solar Cells!

Views: 0     Author: Site Editor     Publish Time: 2024-05-21      Origin: Site


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25%→50%! The United States increases tariffs on Chinese solar cells!

According to the official website of the U.S. White House on May 14, U.S. President Biden announced an increase in tariffs on strategic sectors such as steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes and medical products. Tariffs on Chinese imports to protect U.S. domestic manufacturing.

In terms of solar cells, the announcement shows that the tariff rate for solar cells (whether assembled into modules or not) will increase from 25% to 50% in 2024. The White House believes that China uses unfair practices to dominate more than 80% to 90% of the global solar supply chain. China provides a large number of artificially cheap solar modules and panels to the global market, undermining investment in solar manufacturing outside China. In fact, the Biden-Harris administration has also made historic investments in the U.S. solar supply chain. The Inflation Reduction Act provides supply-side tax incentives for solar components, including polysilicon, wafers, cells, modules and backsheet materials, as well as tax credit, grant and loan programs to support the deployment of utility-scale and residential solar projects. Thanks to President Biden's policy push, solar manufacturers have announced plans to invest nearly $17 billion under his administration, increasing U.S. manufacturing capacity eightfold, enough to supply panels to millions of homes annually by 2030 . Other tariff adjustments: Regarding steel and aluminum, in 2024, according to Article 301, the tariff rate for certain steel and aluminum products will increase from 07.5% to 25%. In terms of semiconductors, by 2025, the tariff rate on semiconductors will increase from 25% to 50%. Regarding electric vehicles, according to Article 301, the tariff rate for electric vehicles will increase from 25% to 100% in 2024. In terms of batteries, battery parts and critical minerals, the tariff rate for lithium-ion electric vehicle batteries will increase from 7.5% to 25% in 2024, while the tariff rate for non-electric vehicle lithium-ion batteries will increase from 7.5% to 25% in 2026. %. In 2024, the tariff rate on battery components will increase from 7.5% to 25%.

In 2026, the tariff rate for natural graphite and permanent magnets will increase from zero to 25%. In 2024, tariff rates on certain other critical minerals will increase from zero to 25%. Shore-to-shore cranes: In 2024, tariffs on shore-to-shore cranes will increase from 0% to 25%.

Medical products: In 2024, tariffs on syringes and needles will increase from 0% to 50%, tariffs on certain personal protective equipment (PPE) will increase from 0-7.5% to 25%, and tariffs on rubber medical and surgical gloves will increase from 0% to 50%. 7.5% increased to 25%. In response, the spokesperson of the Ministry of Commerce of my country stated on the 14th that China firmly opposes and will make solemn representations. Out of domestic political considerations, the United States abused the Section 301 tariff review process, further increased the Section 301 tariffs imposed on some Chinese products, and politicized and instrumentalized economic and trade issues. This is a typical political manipulation. China expresses strong dissatisfaction with this. The WTO has already ruled that Section 301 tariffs violate WTO rules. Instead of correcting the situation, the United States insists on going its own way and makes mistakes again and again. The U.S.'s increase in Section 301 tariffs violates President Biden's commitment to "not seek to suppress and contain China's development" and "not to seek to decouple and break links with China." It is also not in line with the spirit of the consensus reached by the two heads of state. This will seriously affect the atmosphere of bilateral cooperation. The United States should immediately correct its wrongdoing and cancel the additional tariffs imposed on China. China will take resolute measures to defend its rights and interests.

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