U.S. President Joe Biden announced new tariffs worth $18 billion on imports of Chinese products on Tuesday, with electric vehicles being the hardest hit, with duties rising from 25% to 100%. The new tariffs affect sectors described by the White House as vital for the future economic and national security of the United States, including steel, aluminum, semiconductors, electric vehicles, batteries, solar panels, ship unloading cranes, and medical products. Significant Increases in Tariffs on Electric Vehicles and Batteries The most significant tariff affects electric vehicles, increasing from 25% to 100% this year. This substantial increase responds to the significant rise … Continue reading Biden’s $18 Billion Tariff Shock: Electric Vehicle Duties Skyrocket to 100%, Major Hit to Chinese Imports