Video: US to hike tariffs on $18B of Chinese imports

The White House announced on Tuesday that the United States will raise tariffs on Chinese imports valued at $18 billion. These increased tariffs will affect key industries including electric vehicles (EVs), batteries, steel, and critical minerals. Specifically, tariffs on electric vehicles will increase fourfold to 100 percent this year, and those on semiconductors will escalate from 25 percent to 50 percent by the year 2025. This decision follows a comprehensive review by the US Trade Representative.