Reports: 301 Review Coming Next Week; Solar, EVs to Face Higher Rates

Bloomberg reported that the White House will release the Section 301 tariffs review next week, with higher tariffs on electric vehicles, batteries and solar cells. The report said it's unclear if there will be any tariff reductions, "though large-scale reductions aren’t expected."

The Wall Street Journal reported that the administration will put a 100% tariff on Chinese-origin EVs, and will hike tariffs on critical minerals, solar goods and batteries.

In response to the reports, Sen. Sherrod Brown, D-Ohio, tweeted: "Tariffs are not enough. We need to ban Chinese EVs from the US. Period."

A Bloomberg reporter in Beijing asked the Ministry of Commerce to respond to the reporting that the U.S. is poised to hike tariffs on EVs and other strategic sectors. The spokesperson responded, "Section 301 tariffs imposed by the former U.S. administration on China have severely disrupted normal trade and economic exchanges between China and the U.S. The [World Trade Organization] has already ruled those tariffs against WTO rules. Instead of ending those wrong practices, the U.S. continues to politicize trade issues, abuse the so-called review process of Section 301 tariffs and plan tariff hikes. This will just double the U.S.’s fault."