US announces sharp tariff hike on Chinese goods

The United States announced Friday a significant increase in tariffs on Chinese goods, including electric vehicles and chips, raising them by 100 percent.

The US imposed the tariff hikes, which affect billions of dollars' worth of Chinese products, with electric vehicles seeing a 100 percent increase and batteries facing a 25% hike. These new tariffs are set to take effect in two weeks, according to Agence France-Presse
(AFP).

The decision came after a public comment period following a prior announcement of the tariff measures.

US Trade Representative Katherine Tai stated the hikes are aimed at countering "harmful policies and practices of the People's Republic of China that impact American workers and businesses," according to her statement.