President Joe Biden announces that he is directing the U.S. Trade Representative (USTR) to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China – including increasing the tariff on steel products to 25 percent and quadrupling the tariffs on electric vehicle (EV) imports from China to100 percent. Kevin Dempsey, president of the American Iron and Steel Institute (AISI), applauded the announcement:


“China continues to engage in widespread unfair trade practices that harm American steel producers and key steel-consuming industries such as the auto industry,” Dempsey said. “In particular, AISI is concerned that domestic automakers could easily be undercut by the heavily subsidized Chinese EV industry and welcomes the increased Section 301 tariffs on EVs and other clean energy products to address this threat. We appreciate the Biden administration’s commitment to addressing the challenges from China’s market-distorting, unfair trade practices on these products.”