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US Considering Raising Tariffs On Some China Products - Including EVs

US-CHINA

Headlines have crossed from the WSJ that the US Biden Administration is considering raising tariffs on some China goods, including EVs (see this link for mroe details).

  • The article notes no decisions have been made yet but that officials have started discussing the tariff issue again, with an aim of wrapping up a long running tariff review early next year.
  • The Biden Administration has maintained the $300bn tariffs introduced by the previous Trump Administration.
  • The article notes US officials are concerned around China clean energy products and penetration into the US market. China EVs are already subject to a 25% tariff.
  • Tariffs may also be reduced on lower end or less strategically important product areas according to the article.
  • The market impact has been limited so far. USD/CNH has risen but remains sub 7.1500 at this stage.
  • In the equity space at the break, the CSI 300 is up 0.48%, while in Hong Kong the HSI is down 0.24%.
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