According to sources close to the matter, U.S. President Joe Biden is gearing up to unveil new tariffs targeting several key sectors in China, notably electric vehicles. The announcement is expected to come as early as next week, potentially on Tuesday.

The proposed tariffs, aimed at maintaining existing levies, are part of a broader strategy targeting strategic industries such as semiconductors and solar equipment, insiders reveal. While specifics on the tariffs remain unclear, the administration is honing in on areas deemed crucial for competitive advantage and national security.

The recommendations for these tariffs were put forth by the U.S. Trade Representative's office weeks ago. However, internal debates within the administration delayed the final decision-making process.

Biden's approach to tariffs stands in contrast to that of his predecessor, Donald Trump, who favored sweeping tariffs. Biden aims for a more nuanced strategy to avoid sparking inflation and escalating trade tensions with China.

The potential tariffs could provoke retaliation from China, mirroring past trade disputes between the two economic giants. Despite tensions, Biden emphasizes his desire to avoid a full-blown trade war while acknowledging the competitive dynamics between the nations.

Both Biden and Trump have diverged from Washington's traditional free-trade stance, marking a significant shift in U.S. trade policy. Biden's administration has been reviewing and reshaping Trump-era policies, with recent moves signaling a tougher stance on Chinese trade practices.

Last month, Biden proposed higher tariffs on specific Chinese metal products, worth over $1 billion, as part of ongoing efforts to address trade imbalances. Additionally, investigations into Chinese trade practices across various sectors, including shipbuilding and logistics, are underway.

The Biden administration is also pressing Mexico to prevent indirect sales of Chinese metal products to the U.S., further underscoring its commitment to reshaping trade relations. However, China has criticized these tariff measures, arguing they harm both the U.S. and global economy.

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