The core theme of U.S. foreign trade policy remains "strategic trade," encompassing the deep integration of trade policy with national security, offshore outsourcing of supply chains, and the protection and support of key industries. The following are details on several key areas:

1. Tariffs on China: Maintaining and Increasing

This has garnered the most attention recently.

Current Situation: The Biden administration has largely maintained the "Section 301" tariffs imposed on approximately $300 billion worth of Chinese goods during the Trump administration.

New Development: The Biden administration has announced a significant increase in tariffs on certain Chinese goods, aimed at protecting U.S. manufacturing and national security. These goods include:

Electric vehicles: Tariff rate increased from 25% to 100%

Semiconductors: Tariff rate increased from 25% to 50%

Solar panels: Tariff rate increased from 25% to 50%

Steel and aluminum: Tariff rate increased from 0-7.5% to 25%

Lithium batteries and their components: Tariff rate increased from 7.5% to 25%

Reason: The US believes that China's "non-market practices" and overcapacity in these sectors pose a threat to US economic security and domestic industries. This move is intended to create space for the development of clean energy and high-tech industries in the US.

2. The Inflation Reduction Act and Supply Chain Shifts

Core Content: This bill provides high tax credits for new energy vehicles assembled in North America (the US, Canada, and Mexico), while also placing strict restrictions on the origin of key minerals and components for batteries.

Impact:

Accelerating "offshoring": Many companies (including South Korean and European auto and battery manufacturers) were forced to adjust their global supply chains, shifting investment and production to North America or countries with free trade agreements with the United States (such as Mexico) to benefit from subsidies.

Disapproval of trading partners: Countries such as the EU and South Korea viewed the bill as protectionist, discriminatory against foreign electric vehicle manufacturers, and potentially in violation of WTO rules.