The Biden administration's decision to raise tariffs on $18 billion worth of imports from China has sent ripples across various sectors, including semiconductors and aluminum and steel. The new trade policy particularly targets China's electric vehicle sector, where tariffs have quadrupled from 25% to a staggering 100% to "protect the American autoworkers" according to President Biden.
Yahoo Finance's Pras Subramanian breaks down the details, discussing how this will impact the sector moving forward.
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