The tariffs will go into effect over the next three years. The Biden administration announced plans to slap new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment — an election-year move that’s likely to increase friction between the world’s two largest economies.The tariffs come in the middle of a heated campaign between President Joe Biden and his Republican predecessor, Donald Trump, in which both candidates are vying to show who’s tougher on China.The tariffs are unlikely to have much of an inflationary impact because of how they’re structured.
Tariffs On Chinese Evs And Solar Cells Will Double As Biden Shows his Might In An Election Year
Associated Press, Fast Company
Tue, 05/14/2024 - 9:19am
Topics: president joe biden republican donald trump u.s u.s lael brainard white house national economic council u.s pennsylvania michigan trade act oxford economics liu pengyu u.s u.s liu the chinese chinese president xi jinping u.s u.s u.s eswar prasad cornell university u.s u.s europeans xi s france european commission president ursula leyen the biden u.s treasury secretary janet yellen world trade organization chinese foreign ministry lin jian u.s u.s u.s and america u.s joe biden s the i the biden chinese biden trump china evs u.s brainard november s ev section the eu european united states wisconsin double year solar cells steel products government global market change goods economy energy spokesperson excess encouraged growth sectors green ways meet demand computer tax workers effect rate advanced so-called rules week reporters plan told
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