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US set to impose tariffs on Chinese EVs, other key sectors- Bloomberg

Published 10/05/2024, 02:34
© Reuters.

Investing.com-- The White House is set to unveil sweeping tariffs on Chinese companies as soon as next week, targeted at China's electric vehicle sector and other key industries, Bloomberg reported on Friday.

President Joe Biden’s administration is set to impose tariffs targeting several key Chinese industries, including electric vehicles, batteries and solar energy equipment, Bloomberg reported citing people familiar with the matter. 

The decision comes after a review of the so-called Section 301 tariffs which were first imposed under former President Donal Trump. The planned tariffs are still expected to maintain ongoing levies, but will be more targeted, as compared to the broad duties proposed earlier. 

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