Reported 5 months ago
The U.S. Trade Representative's office announced that starting August 1, steep tariff increases on various Chinese imports, including electric vehicles (EVs), batteries, computer chips, and medical products, will take effect. President Joe Biden plans to maintain tariffs imposed by the previous administration while increasing duties on Chinese EVs to over 100% and on semiconductors to 50%. A public comment period will close on June 28 to gather feedback on the impact of these proposed tariff hikes on the U.S. economy, consumers, and specific products like medical masks and gloves. The measures aim to protect American jobs from potential competition from cheap Chinese imports.
Source: YAHOO