Biden to announce new 100% tariffs on Chinese EVs

President Joe Biden is set to announce a significant increase in tariffs on Chinese electric vehicles (EVs), raising the rate from 25% to 100%. This move, part of broader tariffs on Chinese goods like semiconductors and solar cells, aims to protect U.S. manufacturing jobs from Chinese competition. The tariff hike is seen as largely symbolic since Chinese EVs currently hold a minor share of the U.S. market, but it reflects ongoing concerns over China's trade practices and their impact on American industries.