US officials announced that significant tariff hikes on various Chinese imports, including electric vehicles (EVs), computer chips, and medical products, will commence on August 1.
US has hiked tariffs on key Chinese imports
President Joe Biden has raised tariffs on crucial Chinese imports, such as electric vehicles, microchips, and steel.
Jaguar Land Rover reducing its production at UK factories
Jaguar Land Rover will reduce production at its UK plants until spring as a result of its ongoing struggle to source semiconductors in the face of global shortages.