NEW YORK/WASHINGTON -- The Biden administration on Tuesday announced a major increase in tariffs on Chinese electric vehicles and solar panels to prevent cheap products from "flooding" the U.S. market.
US-China tensions
Biden unveils major China tariff hikes with EV rate to hit 100%
Administration will 'closely monitor' companies that try to avoid tariffs
President Joe Biden is ramping up tariffs on EVs and other Chinese imports as the U.S. heads into election season. (Nikkei montage/Source photos by Reuters and AFP/Jiji)
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