Biden administration prepares tariffs on China

According to the WSJ, the Biden administration is considering raising tariffs on some Chinese goods, including electric vehicles, in an effort to shore up the U.S. clean energy industry against cheaper Chinese exports. The Biden administration is considering raising tariffs on a range of Chinese-made products, including electric vehicles. The Wall Street Journal, citing sources familiar with the matter, reportedly said the current 25% tariff on Chinese-made electric cars could be increased. The U.S. is also considering potential tariff hikes on solar energy products and electric vehicle battery packs. Around $300 billion worth of Chinese goods were slapped with tariffs during the Trump administration, and the Biden administration has yet to make any changes to the tariffs. According to the WSJ, the White House’s long-standing tariff discussions could come to an end early next year.