The US government is reportedly set to announce wider tariffs on several categories of Chinese goods, including various green products like solar panels and batteries, medical goods, and in particular an increase of tariffs on Chinese EVs from 25% to 100%.
The rumors were first reported late Thursday that tariffs would be extended after a multi-year review of “section 301 tariffs” that had been implemented under the previous administration.
Then today, Wall Street Journal reported that these tariffs would not just be extended, but expanded, with tariffs on Chinese-made EVs quadrupling from previous levels.
Currently, all cars made in China are subject to a 25% tariff when imported to the US, on top of an additional 2.5% tariff that all foreign-made cars are subject to, totaling 27.5%. This large tariff has…