May 22, 2024 4:18 PM

US announces details on higher China tariffs, some to start Aug. 1

The U.S. Trade Representative's office on Wednesday said some of the steep tariff increases on an array of Chinese imports including electric vehicle batteries, computer chips and medical products will take effect on August 1. President Joe Biden will keep tariffs put in place by his Republican predecessor Donald Trump while ratcheting up others, including a quadrupling of EV duties to over 100% and doubling the duties on semiconductor tariffs to 50%. The Trade Representatives office said a 30...