Why Biden’s tariffs on Chinese EVs will have little immediate impact on the US auto market

News Snapshot:

The big headline from President Biden’s new tariffs on Chinese goods announced Tuesday was the massive hit to electric vehicles made in China. New duties on EVs from companies like BYD, Geely, and NIO are set to quadruple in 2024, to 100% from 25% of the cost of the vehicle. But the question remains — will Biden’s EV tariff move make any difference for EV sales in America? The White House’s sweeping array of new tariffs will raise duties on $18 billion in Chinese imports like steel to semiconductors to medical products. But it is the focus on EVs and...