On May 14th at 5 am in DC, the White House released its decision on the new section 301 tariffs. There is a 100% tariff on Chinese EVs effective this year (which is in addition to the usual 2.5% import duty on cars). 

The tariff rate on Chinese lithium-ion EV batteries will increase from 7.5% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on Chinese battery parts will increase from 7.5% to 25% in 2024.Continue Reading The Sky’s the Limit – Yet More Section 301 Tariffs on China