US set to impose tariffs on China EVs and other strategic sectors, Bloomberg reports

News Snapshot:

(Reuters) -The Biden administration is set to announce new China tariffs next week that target strategic sectors including electric vehicles, batteries and solar equipment, Bloomberg News reported on Thursday. The full announcement, scheduled for Tuesday, is also expected to largely maintaining existing levies, the report said, citing people familiar with the matter. The measures could invite retaliation from China at a time of heightened tensions between the world's two biggest economies. In 2022, President Joe Biden launched a review of the Trump-era policy under Section 301 of the U.S. trade law. Last month, he called for sharply higher U.S. tariffs...