U.S. to Announce New Tariffs on Chinese Electric Vehicles

The Biden administration plans to introduce new tariffs, potentially up to 100%, on Chinese electric vehicles next week, along with increased import taxes on other Chinese goods like semiconductors. This decision is part of efforts to bolster U.S. domestic manufacturing in clean energy sectors, countering the influx of cheaper Chinese alternatives. The move expands on existing tariffs from the Trump era, aligning with subsidies introduced in the 2022 Inflation Reduction Act.