The American and Chinese flags wave at Genting Snow Park ahead of the 2022 Winter Olympics, Feb. 2, 2022, in Zhangjiakou, China. The Commerce Department is tightening export controls to limit China’s ability to get advanced computing chips, develop and …Tariffs on electric vehicles, in particular, could quadruple - from the existing 25% to 100%. The plan was described by the people on condition of anonymity because they were not authorized to provide details ahead of a formal announcement.
The additional tariffs also carry some political heft going into the November presidential election. Both Biden and his presumptive Republican challenger, former President Donald Trump, have told voters that they’ll be tough on, not conflict.” He has embraced an industrial strategy that has used government financial support to pull in private investment in new factories and advanced technology, while limiting the selling of computer chips and other equipment toin order to reduce the U.S.
There is the risk that tariffs could lead to a broader trade conflict between the two countries as they respond to each other’s moves.is cooling its production of lithium-ion batteries used in EVs, cell phones and other consumer electronics at a time when it is facing increasing criticism from the West.’s Ministry of Industry and Information Technology issued a draft rule aimed at “strengthening the management of the lithium-ion battery industry and promoting the sector’s high-quality growth.
Lithium battery plants built in restricted farmlands or industrial zones should be shut down, the draft says.
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