'US tariff increase on Chinese imports shows countries not willing to put all eggs in one basket'
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US President Joe Biden announced steep tariff hikes on Chinese imports including EV batteries, EVs, semiconductors, solar cells, and others. The decision indicates that no country is willing to put all their eggs in one basket post the Covid-19 pandemic. India is also following a policy to ensure domestic capability for manufacturing EVs. The US is trying to lessen dependence on China, particularly in battery manufacturing. The raising of tariffs on EVs, batteries, and other new technology items by the US may push China to dump these products in other markets, including India. The DGTR will look into any anti-dumping issues. Moody's notes that the new tariffs are another hit to supply chains as they try to manage ongoing risks and build resiliency. In 2023, the US imported goods worth $427 billion from China and exported $148 billion.
#Us #China #Tariffs #Imports #Evs #Manufacturing
https://www.businesstoday.in/latest/economy/story/us-tariff-increase-on-chinese-imports-shows-countries-not-willing-to-put-all-eggs-in-one-basket-429701-2024-05-15
Business Today /
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2024-05-15 14:27:42
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npub10krv5xyz57fwv0upm7fgx90w8m2xulqkzzxml2d9d433rwrlmwpsyffpj8Published at
2024-05-15 14:27:42Event JSON
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"content": "'US tariff increase on Chinese imports shows countries not willing to put all eggs in one basket'\n==========\n\nUS President Joe Biden announced steep tariff hikes on Chinese imports including EV batteries, EVs, semiconductors, solar cells, and others. The decision indicates that no country is willing to put all their eggs in one basket post the Covid-19 pandemic. India is also following a policy to ensure domestic capability for manufacturing EVs. The US is trying to lessen dependence on China, particularly in battery manufacturing. The raising of tariffs on EVs, batteries, and other new technology items by the US may push China to dump these products in other markets, including India. The DGTR will look into any anti-dumping issues. Moody's notes that the new tariffs are another hit to supply chains as they try to manage ongoing risks and build resiliency. In 2023, the US imported goods worth $427 billion from China and exported $148 billion.\n\n#Us #China #Tariffs #Imports #Evs #Manufacturing\n\nhttps://www.businesstoday.in/latest/economy/story/us-tariff-increase-on-chinese-imports-shows-countries-not-willing-to-put-all-eggs-in-one-basket-429701-2024-05-15",
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