Some of the U.S. Trade Representative (USTR)'s tariff increase measures on Chinese imports, including electric vehicles, semiconductors, and medical products, will take effect on August 1.
According to major foreign media on the 22nd (local time), the USTR stated that the 30-day public comment period will end on the 28th of next month, and it is collecting opinions on the impact of the tariff increase on the U.S. economy.
Earlier, the Biden administration criticized China's overproduction and unfair trade practices on the 14th and announced tariff increases on $18 billion (approximately 24.6 trillion KRW) worth of Chinese imports, including steel, aluminum, semiconductors, electric vehicles, and solar panels.
The White House announced at that time that tariffs on Chinese electric vehicles would be raised from the current 25% to 100%, and high tariffs would be imposed on batteries, semiconductors, solar cells, and certain medical products. Regarding medical products, opinions are being collected on whether tariffs on masks, medical gloves, syringes, and needles need to be increased beyond the proposed levels.
Previously, USTR Representative Katherine Tai recommended excluding tariffs on hundreds of industrial machinery imports, including solar product manufacturing equipment. Regarding this, the USTR added that detailed information on how companies can apply for tariff exclusions will be announced separately.
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