Biden administration to unveil more tariffs in parting gift to China

It is being reported that the US trade representative’s office will later today announce a doubling of tariff on Chinese solar wafers and polysilicon to 50%, with tungsten products also to be slapped with a 25% levy. This as part of Biden’s final efforts to protect US manufacturing from China’s cleantech industry.

The new tariffs are said to go into effect on 1 January, just a little less than three weeks before Trump officially takes office.

For some background, the solar wafers and polysilicon are primarily used in solar cell manufacturing while tungsten can be used in a variety of things but is arguably targeted as part of weaponry and chip making processes. All in all, it’s yet another area in which US is targeting China as part of the tech war between the two countries.

The full report by the FT can be found here (may be gated).

This article was written by Justin Low at www.forexlive.com.