Biden Builds on Trump’s Policies to Get Tougher on China

On May 14, the Biden administration announced its intent to significantly increase tariffs on Chinese electric vehicles (EVs), chips, steel and aluminum products, lithium-ion batteries, solar cells, and medical supplies. According to White House officials, the tariff hikes apply to about $18 billion of annual imports from China and will increase to up to 25 percent—triple the current level—on a stacked schedule between 2024 and 2026. Officials also said all existing tariffs levied during the Trump administration—on about $300 billion of goods from China yearly—will remain in place, if not increase. [epoch_component type=”photo_gallery” position=”column-right” section_title=”” width=”150″ items=”5652232,” image_stays=”false” stays_for_paragraphs=””][/epoch_component]...