Phnom Penh (FN), Jan. 17 – Countries worldwide have been increasingly imposing tariffs on China’s tech industry to address concerns over economic dependence, national security, and market fairness.

Tariffs have regained focus ahead of President-elect Donald Trump’s second term, reflecting his pro-tariff stance.

The Biden administration also took action, raising tariffs on Chinese electric vehicles in May 2024 from 25% to 100%, citing manufacturing overcapacity concerns. The US is one of four regions with specific tariffs on China’s EV industry, which saw exports surge 13,300% to $42 billion in 2023, capturing 70% of global EV production.

The EU also imposed tariffs as Chinese EV market share grew from 3.9% to 25% (2020-2023), threatening European automotive jobs and industry stability.

This article was originally published on Voronoiapp.
=FRESH NEWS