President Joe Biden is set to quadruple tariffs on Chinese-made electric vehicles as well as other clean energy goods, aiming to prevent an influx of affordable and popular Chinese EVs into the US market.
The Biden administration plans to increase tariffs on imported Chinese EVs to 100 percent from the current 25 percent, with an additional 2.5 percent duty, to hinder Chinese companies from taking over the US electric vehicle market.
US automakers fear competition from affordable Chinese EVs, as many worry that they would be unable to match the pricing, potentially leading to a detriment for domestic companies according to Elon Musk and other politicians.
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