US reportedly seeks increasing taxes of Chinese EVs - Breaking The News
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US reportedly seeks increasing taxes of Chinese EVs

EPA-EFE/RUNGROJ YONGRIT

The Biden administration could be searching to increase taxes on articles coming from China, targeting also electrical vehicles (EV), The Wall Street Journal reported.

Anonymous sources from the government said to the media that raising tariffs on Chinese exports, especially EVs that are already marked with a 25%, could work on strengthening the United States clean energy industry as well as portraying President Joe Biden to be "tougher" on China ahead of the 2024 US elections. However, it could also destabilize Washington-Beijing relations when the Taiwanese presidential election is about to happen in January.

In addition, the report also mentioned the US government is also considering dropping tariffs on some other Chinese goods that are not seen as "strategically important."

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