Biden administration plans to announce tariffs on Chinese electric cars / Article

The Biden administration could announce such tariffs as early as next week. Chinese President Xi Jinping’s strategy to boost manufacturing to stem his country’s economic downturn has drawn displeasure from the United States and the European Union. According to Washington and Brussels, the Chinese government’s support for its manufacturers has caused a flood of cheap export goods in the West.

As reported by “Bloomberg”, the new tariffs will be set for such sectors as electric vehicles, batteries and solar cells.

This would be one of Biden’s biggest moves in the economic race with China. As recently as last month, he called for higher tariffs on Chinese steel and aluminum and for an official investigation into China’s shipbuilding industry.

China’s Ministry of Foreign Affairs has announced that the tariffs imposed by the previous US administration have seriously disrupted economic and trade transactions between the two countries. Beijing has called on Washington to lift the restrictions and added that it will take measures to defend its rights and interests.

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