Biden to Announce New Tariffs on Chinese EVs and Solar Equipment

President Biden will announce new tariffs on Chinese products next week, with electric cars among the products targeted, Reuters has reported, citing unnamed sources in the know. Besides electric vehicles, tariffs will also be imposed on semiconductors and solar power equipment. According to a Bloomberg report also citing unnamed sources, the new tariff round will also include batteries. Chinese EVs are already subject to a hefty 25% import tariff in the United States. However, a few months ago it emerged this may not be enough to…