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New Biden tariffs on China's EVs, solar, medical supplies reportedly due Tuesday

·1 min

U.S. President is set to announce new China tariffs targeting strategic sectors, including a major hike in levies on electric vehicles (EVs). The announcement will maintain existing tariffs on many Chinese goods set by the previous president. Tariffs will also be added to semiconductors and solar equipment, as well as Chinese-made medical supplies like syringes and personal protective equipment. The revision of the tariffs aims to focus on industries that are of strategic competitive and national security areas. The update on tariffs has been delayed due to internal discussions but is expected soon. The measures could invite retaliation from China, given the already heightened tensions between the two economies.