Crazy! Imposing 920% tariff on China?
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It is reported that North American graphite miners have made a request to the US government, hoping to impose tariffs of up to 920% on battery metals supplied from China in response to so-called "unfair trade practices."
The reason is that China has carried out low-price dumping through large-scale subsidies, which has led to excess graphite production capacity and price chaos, and has had an impact on domestic manufacturers in the United States. Although there is currently a 25% tariff, it believes that this is not enough to prevent China's dumping behavior.
This move by the United States may seem tough, but it actually hides many deep-seated problems. First of all, although the US's "anti-dumping" accusations seem reasonable, they are actually short-sighted. Graphite is a key raw material in many fields such as batteries, nuclear industry, and military industry. The United States' attempt to suppress China's graphite market share through high tariffs is tantamount to shooting itself in the foot.
This is not only a simple trade dispute, but also an in-depth game between technology and industry.
It is reported that US President-elect Trump has repeatedly threatened to impose widespread tariffs on Chinese products. On December 11, the Office of the United States Trade Representative (USTR) announced the imposition of additional Section 301 tariffs on tungsten products, polysilicon and other products imported from China, which will take effect on January 1, 2025.
In response, a spokesperson of the Chinese Ministry of Commerce said that China’s position against unilateral tariff increases is consistent and China has made solemn representations to the United States on many occasions.
The U.S. tariff measures will not only not solve the U.S. trade deficit and industrial competitiveness issues, but will also push up inflation in the U.S., harm the interests of U.S. consumers, and seriously undermine the international economic and trade order and the security and stability of global industrial and supply chains.