US Quadruples Tariffs on Chinese Imports, Including EVs and Chips
The Biden administration has announced a significant increase in tariffs on Chinese imports, including electric vehicles (EVs), chips, solar panels, and other goods. The aim is to protect US industries from unfair trade practices and encourage domestic manufacturing.
The increased tariffs will impact imports worth $18 billion from China, covering sectors like steel, aluminum, semiconductors, batteries, and critical minerals. China has criticized the move, seeing it as a campaign maneuver by President Biden.
The tariffs on EVs and other products are expected to escalate trade tensions between the US and China, potentially leading to retaliatory measures.
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