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US tariffs on China are exploding: danger to Europe's economy!
US government extends tariffs on Chinese imports until November 2025. Impact on economy and trade relations in focus.
US tariffs on China are exploding: danger to Europe's economy!
The US government is continuing increased tariffs on Chinese imports, a decision that is valid until November 10 at 12:01 a.m. Washington time. This measure is based on a decree from former US President Donald Trump. The new tariffs affect a wide range of products, which has a significant impact on trade between the US and China, such as freenet.de reported.
Particular focus is on US President Joe Biden's announcement that he will drastically increase tariffs on Chinese electric cars from 25 to 100 percent. The reason for this decision is that China subsidizes products and offers them at unfairly low prices. Biden emphasizes that American manufacturers are investing significantly in the development of electric cars in order to compete internationally.
Expansion of customs measures
The new tariffs don't just affect electric cars. A comprehensive list shows the various customs changes:
- Solarzellen: Zölle steigen von 25 auf 50 Prozent.
- Hafenkräne: neue Zölle von 25 Prozent.
- Medizinprodukte: neue Zölle von 50 Prozent für Spritzen und Nadeln; Zölle für einige Schutzmasken steigen auf 25 Prozent; Erhöhung für medizinische Handschuhe bis 2026 aufgeschoben.
- Halbleiter: Zölle steigen bis 2025 von 25 auf 50 Prozent.
- Stahl und Aluminium: Zölle steigen von 7,6 auf 25 Prozent.
- Batterien: Zölle für Lithium-Ionen-Akkus steigen von 7,5 auf 25 Prozent.
The Chinese Foreign Ministry has criticized the tariff increases as a symbolic gesture and plans to take measures to protect its own interests. Fears are growing that the customs and trade dispute could also affect European economies. High US punitive tariffs could lead to China selling more of its electric cars in Europe.
Reactions and developments
The EU Commission is reacting cautiously to the new situation and is examining the possible effects of US tariffs. A decision on possible EU punitive tariffs is still pending. Economist Guntram Wolff warns of the consequences of politically motivated tariffs and a possible escalation of the trade war. Chancellor Olaf Scholz also makes vague comments on the issue and emphasizes the exchange between the EU and China.
Federal Transport Minister Volker Wissing also warns of the dangers of a trade war that could be triggered by the new punitive tariffs. The entire scenario brings uncertainties for international trade relations and raises questions about the further development of economic cooperation between states and creates tensions in global trade.