The United States has been the world’s biggest importer of Chinese lithium-ion batteries for the fifth year in a row, making up a quarter of China’s overall exports of more than $61 billion last year, Chinese customs data showed. The trade data was better than expected as the strong growth of battery energy storage systems more than offset the effects of the drop in electric vehicle battery exports, after the US government has imposed a 25% tariff on Chinese EV batteries since last September. China’s total export value declined by 6% year-on-year, with the industry grappling with a lithium price slump over the past two years, according to figures published by the General Administration of Customs (GAC) earlier this month. Still, China shipped more than 3.9 billion Li-ion batteries in 2024, which include those for EVs and energy storage systems, representing an increase of 8.1% from a year ago. [Caixin]
Trump calls for tariffs on computer chips, semiconductors and pharmaceuticals from Taiwan– venturebeat.com Source Link Excerpt:
Donald Trump called for tariffs on foreign computer chips, semiconductors, and pharmaceuticals from places like Taiwan in the near future.
In the speech at the House GOP Issues Conference in Miami, Trump said that manufacturers also don’t need an incentive to build their chip factories in the U.S. He suggested he would remove Joe Biden’s program of paying subsidies to chip makers like Intel to build in the U.S.
The impact of such tariffs could be huge. The Consumer Technology Association, the lobbying group for the U.S. electronics industry, warned that tariffs could take the cost of game consoles from the hundreds of dollars to $1,000.
“In the very near future, we’re going to be placing tariffs on foreign productions of computer chips, semiconductors and pharmaceuticals to return production of these essential goods to the United States of America,” Trump said. “They left us and they went to Taiwan, which is about 98% of the chip business, by the way. And we want them to come back and we won’t to give them billions of dollars like this ridiculous program that Biden has.”