Biden hits Chinese EVs, other key goods with much higher tariffs

U.S. President Joe Biden on Tuesday announced plans to quadruple punitive duties on Chinese electric vehicles to 100 percent in 2024 and sharply raise tariffs on Chinese goods in other sectors of strategic importance, such as solar equipment and semiconductors, in a bid to help American workers compete.Biden said in his speech at the White House that the increased levies, which will apply to about $18 billion worth of imports from China, are aimed at preventing the Asian economic powerhouse from threatening U.S. manufacturing jobs and undercutting American industries.With the U.S. president…READ FULL ARTICLE