The US has announced it will go ahead with Section 301 tariffs on a number of commodity imports from China, including steel, aluminum, lithium-ion batteries, graphite and other critical minerals, the Office of the United States Trade Representative said in a Sept. 13 statement.
It said proposed modifications announced in May were largely adopted, with several updates to strengthen the actions to protect US businesses and workers from China’s unfair trade practices.
“These actions underscore the Biden-Harris Administration’s commitment to standing up for American workers and businesses in the face of unfair trade practices,” Ambassador Katherine Tai said in the statement.
The USTR said the updates would improve the effectiveness of the tariff actions, while considering other actions that could be taken and the overall effects of the tariff actions on the US economy.
The USTR has set the tariffs at 25% on a range of commodities including steel, aluminum, lithium-ion batteries for electric vehicles, ores and concentrates of manganese, cobalt, chromium and tungsten; tungsten oxides, tungstates, carbides and powders; unwrought tantalum, chromium and indium including their powders: ferronickel, ferroniobium (max. 0.02% P or S, max 0.4% Si); and tin alloys, among others, with the tariffs to come into effect on or before Sept. 27, 2024.
It also included the same rate for natural graphite, lithium-ion batteries for other applications and permanent magnets from 2026.
The tariff rate on certain steel and aluminum products under Section 301 increased from 0-7.5% to 25%, up from 7.5% for lithium-ion batteries and from zero for the critical minerals.
The tariff for semiconductors was set at 50% from 2025.
Source: Platts
