Biden quadruples tariffs on Chinese EVs

News Snapshot:

The tariffs on Chinese electric vehicles will quadruple, from 25 percent to 100 percent. Chinese solar cells, which make up solar panels, will see their duties double from 25 percent to 50 percent. The EV tariffs are largely symbolic, as the existing tariffs have largely kept Chinese imports out. They come a few months after President Biden in February ordered a probe of potential national security risks associated with Chinese-made vehicles with internet connectivity, which includes EVs. Nevertheless, the increases generally demonstrate a Biden administration effort to show support for U.S. manufacturing — at a time where his push toward...