US to impose new tariffs on Chinese clean-energy imports including EVs

News Snapshot:

The big picture: The Biden Administration is determined to safeguard the US' budding clean energy market, particularly its electric vehicle (EV) manufacturers, who may struggle to compete with more competitively priced products from overseas. China currently leads the US in research on numerous emerging technologies, notably electric batteries, where there's a significant risk of Chinese dominance. However, this objective clashes with another key goal of the administration – reducing emissions. The Biden Administration is poised to announce an increase in tariffs on clean-energy goods from China, encompassing electric vehicles, batteries, and solar cells. According to sources familiar with the matter,...