The Biden administration announced plans to slap new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum, and medical equipment, sparking friction between the world's two largest economies.
The Chinese government quickly responded, stating that the tariffs will seriously impact bilateral cooperation, using the term 'bullying' to describe the move.
The tariffs aim to counteract China's dominance in emerging technologies and to prevent risks to U.S. national security and economic stability, according to White House National Economic Council Director Lael Brainard.
Chinese firms could flood the U.S. market with low-priced EVs subsidized by the Chinese government, potentially causing disruptions in the market.
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