U.S. President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors with new levies while rejecting the across-the-board hikes sought by Donald Trump, people familiar with the matter said.
The tariff rate on electric vehicles is expected to quadruple from roughly 25% to 100%, the Wall Street Journal reported Friday, citing people familiar with the plans. An additional 2.5% duty would apply to all automobiles imported into the U.S., the paper reported.
The decision is the culmination of a review of Section 301 tariffs first put into place under Trump starting in 2018. The U.S. will impose new, elevated tariffs that focus on key industries including electric vehicles, batteries and solar cells. Other existing China levies are expected to largely be maintained. An announcement is scheduled for Tuesday, two of the people said.