Another Delay In Biden Administration’s Section 301 Tariff Review
On Aug. 30, the Office of the U.S. Trade Representative (USTR) announced that it was again delaying implementation of its updated Section 301 tariffs on products from China. The revised penalties had been set to take effect on Aug. 1, 2024, but earlier this summer USTR announced it needed more time to review public comments on its proposals.
As Connecting the Dots explained in April, these tariffs are set to affect approximately $18 billion in Chinese imports, including steel, aluminum, electric vehicles (EVs), batteries, semiconductors, and medical products. They fall under Section 301 of the Trade Act of 1974, and are separate from the Section 232 tariffs also in place on imports of steel and aluminum into the United States from some countries, including China.
Specifically, the White House proposed to raise rates on:
- Certain steel and aluminum products from 7.5 percent to 25 percent in 2024, which, again, are in addition to existing Section 232 tariffs;
- Semiconductors from 25 percent to 50 percent by 2025;
- EVs from 25 percent to 100 percent in 2024;
- Solar cells from 25 percent to 50 percent in 2024;
- Lithium batteries for EVs and critical minerals from 7.5 percent to 25 percent in 2024; and
- Ship-to-shore cranes from zero percent to 25 percent in 2024.