Biden imposes tariffs on chips, critical minerals

Taking action: Biden exits the White House before boarding Marine One in Washington. The US president ratchets up rates on goods the country struggled to import during the pandemic and for key industries like chips and green energy. — Bloomberg

WASHINGTON: President Joe Biden is hiking tariffs on a wide range of Chinese imports, including semiconductors, batteries, solar cells and critical minerals, in an election-year bid to bolster domestic manufacturing in critical industries.

The United States will also raise levies on port cranes and medical products, in addition to previously reported increases on steel, aluminium and electric vehicles (EVs).