Biden-Harris Administration to Finalize Tariff Hikes Amid Industry Pushback

The Biden-Harris administration is set to announce final plans for significant tariff increases on Chinese imports. Industry leaders are pushing to soften the impact. The move includes higher tariffs on electric vehicles, semiconductors, solar cells, and other strategic goods to protect U.S. firms. The decision is politically charged, with potential criticisms from both parties.

The Biden-Harris administration is poised to finalize plans this week for substantial tariff increases on Chinese imports. Industry leaders are lobbying for relief from the steep tariffs, which include a quadrupling of duties on electric vehicles and significant hikes on semiconductors, solar cells, and other vital goods.

Initially scheduled to take effect on August 1, the tariffs were delayed to later this month as the U.S. Trade Representative reviewed over 1,100 public comments. The upcoming decision marks the administration's first significant trade policy move since Vice President Kamala Harris became the Democratic presidential nominee.

The decision comes amid a politically sensitive period, with President Biden stepping aside for Harris in late July. While some U.S. firms support the tariffs to combat Chinese competition, others warn of increased costs and supply chain disruptions. How the administration handles these tariffs could significantly impact U.S.-China trade relations ahead of the November elections.

(With inputs from agencies.)