![President Biden announces $18 billion in new tariffs on Chinese imports, with electric vehicle duties jumping from 25% to 100%. Key sectors affected include steel, semiconductors, and solar panels.](https://i0.wp.com/www.karmactive.com/wp-content/uploads/2024/05/biden-1.jpg?resize=720%2C480&ssl=1)
Biden’s $18 Billion Tariff Shock: Electric Vehicle Duties Skyrocket to 100%, Major Hit to Chinese Imports
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