Tariffs termed 'unfortunate shift' in policy

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The US government's latest move to slap heavy tariffs on Chinese imports, including electric vehicles and solar cells, shows protectionism and industrial policy is the new consensus approach to economic challenges, which is an "unfortunate shift" in US policy, a senior economist said on Tuesday. The United States is increasing tariffs on $18 billion worth of Chinese imports, targeting electric vehicles (EVs), advanced batteries, steel and critical minerals, the White House said on Tuesday. The fresh levies come on top of the already massive tariffs imposed on more than $300 billion worth of Chinese goods, which were introduced during the Trump administration, according to the result of a four-year review of the China Section 301 tariffs, released by the Office of the United States Trade Representative (USTR) on Tuesday. The review was undertaken under Section 301 of the Trade Act of 1974, which Trump invoked to first launch the China tariffs in 2018. The centerpiece of the new tariffs ………………………………