Biden administration considers increasing tariffs on Chinese goods
According to a report by the WSJ, the Biden administration is considering increasing tariffs on certain Chinese goods, including electric vehicles, to support the U.S. clean energy industry against cheaper Chinese exports.
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The Biden administration is considering raising tariffs on a range of Chinese-manufactured products, including electric vehicles.
According to a report by the Wall Street Journal citing sources familiar with the matter, the current 25 percent tariff on Chinese-origin electric cars could be increased. The U.S. is also evaluating potential tariff hikes on solar energy products and electric vehicle battery packs.
During the Trump administration, tariffs were imposed on approximately 300 billion dollars worth of Chinese products, and the Biden administration had not yet taken steps to change these tariffs. According to the WSJ, the White House's long-standing tariff review could conclude early next year.