The Biden administration is poised to announce new tariffs on imports from China, targeting electric vehicles, semiconductors, solar equipment, and medical supplies.

These tariffs are a response to concerns regarding China's manufacturing overcapacity, U.S. job security, and national security implications.

Electric vehicle tariffs may see a significant increase, potentially rising from 25% to 100%.

The tariff decision coincides with U.S. subsidies for domestic battery and solar panel production under the Inflation Reduction Act, which has encouraged Swiss and German manufacturers to expand operations in the U.S.

China's BYD is about to launch a new electric pick up truck, named the Shark, which may be affected by the upcoming tariffs, highlighting the growing trade tensions.

Industry experts suggest the U.S. should invest in producing affordable electric vehicles domestically rather than relying on tariffs.