US Hikes Tariffs on Chinese Aluminum, Steel

Late last month, the White House announced an increase in tariffs on the import of several Chinese products and materials, including steel and aluminum, both of which – especially the latter – are important commodities in the HVAC-R industry and related manufacturing sectors.

The Biden Administration said the measure comes in response to Beijing’s ongoing “unfair” trade practices that undermine American competitiveness in several markets, with a focus on those related to renewable energy technologies.

“For too long, it [international business competition] hasn’t been fair,” said Biden during a speech in the Rose Garden alongside leaders in the aluminum and steel industries. “For years the Chinese government has poured state money into Chinese companies across a whole range of industries – steel and aluminum, semiconductors, electric vehicles, solar panels – the industries of the future. …China heavily subsidized all these products, pushing Chinese companies to produce far more than the rest of the world can absorb, and then dumping the excess products onto the market at unfairly low prices, driving other manufacturers around the world out of business. …It’s not competition. It’s cheating.”

Included among the announced tariffs were:

• 25% tariff on steel products
• 25% tariff on aluminum products
• 100% tariff on electric vehicles made in China
• 25% tariff on electric vehicle batteries made in China
• 25% tariff on critical minerals used in the production of EV batteries

Tariffs on solar panels, semiconductors, and healthcare equipment like masks and gloves were also included in the announcement.

“I want fair competition with China, not conflict,” said Biden. “And we’re in a stronger position to win that economic competition in the 21^st century against China than anyone else because we’re investing in America again, and American workers.”

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