US Implements Steep Tariff Hikes on Chinese Goods

Understanding the New US Tariffs on Chinese Imports

The US government has announced significant tariff hikes on various Chinese goods starting from September 27. These include a 100% duty on Chinese electric vehicles (EVs), a 50% duty on solar cells, and a 25% duty on steel, aluminum, EV batteries, and essential minerals. The goal is to encourage US industries to diversify their supply chains away from China's dominance.