Biden Administration introduces new tariffs to target China's EV industry with US sales lagging

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The Biden administration is quadrupling tariffs on Chinese electric vehicles as part of a series of new tariffs that also includes steel, solar cells and other key components aimed at countering its dominance in the market as U.S. automakers have scaled back their plans amid slumping demand.

President Joe Biden is set to announce a batch of tariffs on Tuesday aimed directly at Beijing, a move certain to flare up tensions with the world’s No. 2 economy and chief rival that is also likely to result in new tariffs and taxes placed on American products. The tariffs, which touch on several pieces of the EV supply chain and other technology, will be phased in over the next three years.

Tariffs that will go into effect this year include hikes on EVs, solar cells, steel, aluminum and other medical supply items. The U.S. has been working to figure a way around China’s dominance in refining minerals that are key to EV batteries as well as how to counter the low prices its automakers can offer thanks to heavy subsidies.

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