'Americans Can Out-Compete Anyone': Biden Unveils New Tariffs Against China
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The Biden administration has announced new tariffs against China, targeting Chinese products worth $18 billion entering the US. The tariffs include a 100% tariff on electric vehicles and a 50% tariff on semiconductors used in EV production. Major players like Geely and BYD will be affected. President Biden stated that American workers can out-work and out-compete anyone as long as the competition is fair. China has vowed immediate retaliation and warned of an impact on bilateral trade relations. Chinese markets reacted negatively to the tariffs, while American markets closed in the green.

#Tariffs #China #Us #TradeWar #ElectricVehicles

https://www.freepressjournal.in/business/americans-can-out-compete-anyone-biden-unveils-new-tariffs-against-china