• US media: Biden’s new tariffs on China may end the era of cheap goods

    The United States last week announced new tariffs on $18 billion worth of Chinese imports, covering electric vehicles, lithium batteries, photovoltaic cells and other products. The media believed that this was a political move by the Biden administration to gain votes before the election. However, some U.S. economists and industry insiders worry that the cost of these tariffs will ultimately be borne by U.S. consumers.