The Biden administration has confirmed significant tariff hikes on Chinese imports, including a 100% duty on electric vehicles (EVs), to protect domestic industries from China’s state-driven excess production capacity. The U.S. Trade Representative (USTR) announced that the tariffs, including a 50% duty on solar cells and a 25% duty on steel, aluminum, EV batteries, and key minerals, will take effect on September 27. A notable aspect of the tariff changes is the inclusion of Chinese semiconductors, with a 50% tariff set to begin in 2025. Additionally, tariffs on lithium-ion batteries and related components, critical for EV production, will increase to...