The Biden administration has imposed new tariffs on $18 billion worth of annual imports from China. The sweeping tariffs will impact many products, including semiconductors, lithium-ion electric vehicle batteries, and aluminum and steel. The tariff on the electric vehicle sector will see a staggering quadruple increase, soaring from the current 25% to a 100% rate.

Yahoo Finance's Jennifer Schonberger sheds light on the sectors set to see the most significant impact, delving into the strategy behind the implementation of these new tariffs.

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This post was written by Angel Smith