US slaps steep tariff hikes on Chinese imports of chips, EVs, medical equipment

The US has imposed sharp tariff hikes on multiple Chinese imports, including electric vehicle (EV) batteries, computer chips and medical products, prompting a response from China which said that the move "will seriously affect the atmosphere of bilateral cooperation”. US on Tuesday quadrupled EV duties to over 100% and doubled duties on semiconductor tariffs to 50%, the White House said in a statement. It cited “unacceptable risks” to US economic security posed by what it considers unfair Chinese practices that are flooding global markets with cheap goods. The new measures affect $18 billion in imported Chinese goods including steel and…