Big week coming up for Biden to slap huge tariffs on China

The news from Friday started off bad for China:

• The US will impose tariffs on EVs from China after review

And then got worse:

• Pres. Biden is set to quadruple tariffs on Chinese EVs: WSJ

Biden will announce the new tariffs on Tuesday, “Section 301” tariffs:

• will maintain existing tariffs on many Chinese goods set by former President Trump
• will add new tariffs to semiconductors and solar equipment, and raise EV tariffs
• and many other products
• solar manufacturing equipment will get an exclusion
• tariffs on Chinese EVs will roughly quadruple

In this time of toxic US political partisanship, the one thing that’ll bring the country together this election year is economic attack on China. US consumers will pay the price.

This article was written by Eamonn Sheridan at www.forexlive.com.