Harmonized Tariff Schedule of the United States Revision 1 (2024)

In May 2024, the US government announced new and increased tariffs rates on imports from China : 

• Certain Steel and Aluminium Products : increased from 0-7.5% to 25% in 2024
• Semi-conductors : increased from 25% to 50% in 2025
• Electric Vehicles : increased from 25% to 100% in 2024
• Batteries : increased from 7.5% to 25% in 2024
• Battery Components, Parts, and Critical Minerals (including natural graphite and permanent magnets : set up a 25% import tariff in 2024 or 2026
• Photovoltaic Cells : increased from 25% to 50% in 2024

Many of these replace tariffs introduced in 2018, where an additional 25% tariff on top of existing baseline import tariffs was placed on a wide-range of goods including: 

• Generation and grid equipment,
• Advanced machinery and appliances including those used for manufacturing
• Motors, transformers, batteries, heaters
• Semi-conductor devices
• Photovoltaic cells
• Motor vehicles (off- and on-road)
• Minerals and metals, including critical minerals, aluminum, cobalt, copper, nickel, zinc, and tin
• Various products made from above minerals and metals, including plates, sheets, strip, foils, and wires

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