New Tariffs Imposed by the U.S. on China: Industry Impact and Global Supply Chain Restructuring
In May 2024, the U.S. government announced new tariffs on approximately $180 billion worth of Chinese goods, focusing on the new energy sector including electric vehicles, lithium batteries, and photovoltaic products. This policy will be implemented in phases starting September 1 of this year, marking a new phase in U.S.-China trade relations.
Key Areas and Tariff Increases:
Tariff on electric vehicles raised from 25% to 100%
Tariff on lithium batteries increased from 7.5% to 25%
Tariff on solar cells increased from 25% to 50%
New 25% tariff on semiconductors
Market Impact Predictions:
Impact on the U.S.:
Electric vehicle prices may rise by 40-60%
Cost of solar projects may increase by approximately 30%
Inflation rate may rise by 0.5-1 percentage points
Impact on China:
Profit margins of new energy export companies under pressure
Accelerated shift of the supply chain to Southeast Asia
Forced industrial upgrade and transformation
Recommendations for Companies:
Explore diversified markets (EU, ASEAN, etc.)
Consider layout of overseas production bases (Mexico, Vietnam, etc.)
Enhance product technological content and added value
Strengthen supply chain risk management
Expert Opinions:
Global supply chains will face restructuring
China may introduce reciprocal countermeasures
Medium to long-term may change the global trade pattern