The United States moved on 14 May 2024 to raise tariffs on Chinese steel and aluminium products to 25 percent, as part of a broader package of higher duties on 18 billion dollars of Chinese goods. The announcement followed the Office of the US Trade Representative's four-year review of the Section 301 tariffs, which concluded that the existing duties should stay in place and be increased in strategic sectors including steel and aluminium, electric vehicles, batteries, solar cells, semiconductors and ship-to-shore cranes. Steel and aluminium products had previously faced Section 301 rates of zero to 7.5 percent. The higher rates were scheduled to take effect on 1 August 2024, after a Federal Register notice and a public comment period running from 29 May to 28 June. The White House said the measures were needed to counter unfair Chinese trade practices, while the tariffs on about 370 billion dollars of other Chinese goods were left unchanged.
Source: EY Tax Alerts — https://www.ey.com/en_gl/technical/tax-alerts/us-biden-administration-and-ustr-announced-additional-tariffs-upon-completion-of-china-section-301-review
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