Biden Admin discusses raising tariffs on Chinese electric vehicles, WSJ says

The Biden Administration is discussing raising tariffs on certain Chinese goods, including electric vehicles, Andrew Duehren of The Wall Street Journal reports, citing people familiar with the matter. The administration intends to wrap up a long-running review of the tariffs by early next year. Chinese EVs are already subject to a 25% tariff, which has prevented Chinese automakers from making progress into the U.S. market, and raising the tariff will likely have little immediate impact on U.S. consumers. Chinese solar products and EV battery packs may also potentially have their tariff-rates increased, people told the Journal. Publicly traded companies in the space include Nio (NIO), Xpeng (XPEV), and BYD (BYD).