President Biden is set to impose increased tariffs on $18 billion worth of annual Chinese imports. The tariffs will apply to Chinese electric vehicles...
Biden is raising tariffs on clean energy goods from China that includes things like electric vehicles, batteries and solar panels even.Tariffs are a tax imposed by one country on the goods and services imported from another country. President Biden is concerned that China is using unfair trade practices to keep most of the global production and manufacturing in the country.
So if you're in the market for one of those products, how will higher tariffs impact the price that you pay? But on the flip side of your, if you're Joe Biden, you want to protect American industry to protect those jobs, potentially that could be kind of knocked out by the overcapacity problem of Chinese China's evs.
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