After nearly four years of review, Washington will hike tariffs in targeted sectors, with Chinese electric vehicles (EVs) bearing the brunt of the increase. The total tariff on these vehicles will skyrocket to 102.5% from the current 27.5%.
The action is aimed at encouraging China to "eliminate its unfair trade practices regarding technology transfer, intellectual property, and innovation," the White House said in a statement.
The EV rate aims to protect the US from a potential flood of Chinese cars that could upend the politically sensitive auto industry.
The Biden administration has been "focused on sectors of longstanding concern," said Greta Peisch from law firm Wiley Rein LLP.
[
add
]
[
|
|
...
]