X - Biden Targets Chinese Imports With Huge Tariff Hikes Ahead of Election | Benzinga
The Biden administration is implementing new tariffs on Chinese imports, targeting sectors like electric vehicles, batteries, and semiconductors, aiming to safeguard U.S. jobs prior to the November election.
Lael Brainard, the White House national economic adviser, emphasized the importance of these actions to prevent unfair competition from China and protect domestic industries.
The tariffs, affecting $18 billion worth of Chinese products, focus on strategic areas such as aluminum, steel, and critical minerals, reported the Financial Times.
The tariff adjustments include quadrupling rates on Chinese electric vehicles to 100%, ...