Most of the Section 301 tariffs the United States levied on China imports in 2018/19 remain in place, and in May 2024 the Biden administration raised tariffs on $18 billion of Chinese goods, including semiconductors and electric vehicles. Regardless of who wins the presidential election, tariffs will play a role in U.S. trade policy in the next few years. Meanwhile, the EU is pushing ahead to implement a 45% tariff on Chinese electric vehiclestoo. In short, the risk for a global trade war, with tit-for-tat tariffs, is growing as we head into 2025. Is this a . . .
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