Biden Raises Tariffs on $18 Billion of Chinese Imports, Including EVs

May 14, 2024, 09:02 AM

President Joe Biden has announced an increase in tariffs on a wide range of Chinese imports, including semiconductors, batteries, solar cells, and critical minerals. This move is expected to impact around $18 billion in annual imports and is seen as an election-year strategy to bolster domestic manufacturing. The tariffs also target electric vehicles (EVs) and are part of a broader effort to protect American workers and businesses from what the administration describes as China's unfair trade practices.