On May 14, 2024, the Biden Administration announced additional tariffs on $18 billion worth of imports of Chinese goods. Citing Section 301 of the Trade Act of 1974, the Biden Administration voiced its concerns over Chinese unfair trade practices, including unfair intellectual property transfers in favor of Chinese businesses from American ones and the flooding of the market with artificially low-priced goods from China. The Administration is also expected to keep existing tariffs on Chinese goods in place.
The new tariffs include additional import duties on imports from China of certain steel and aluminum products (up to 25%), semiconductors (up to 50%), electric vehicles (up to 100%), batteries of various kinds (up to 25%), solar cells (up to 50%), ship to shore cranes (up to 25%), and certain medical products (up to 50%). These increased import duties clearly echo the US Administration’s restrictions on exports of US technology to China for use in semiconductor manufacturing, as well as the European Union’s ongoing investigation into Chinese government subsidies that have helped push down electric vehicle prices.
The US Administration’s new tariffs also target certain medical products. This move continues governmental concerns about reliance on Chinese medical supplies during the COVID-19 pandemic.
The US Government has historically allowed importers to apply for exclusions from such tariffs based upon the unavailability of similar goods within the US. The particulars of such possible exclusions will still need to be determined. In the meantime, the US Government is permitting importers to seek exclusions for certain Chinese-made machinery that is necessary for ongoing US manufacturing operations.
Masuda Funai is a full-service law firm with offices in Chicago, Detroit, Los Angeles, and Schaumburg.
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