evidence: President Joe Biden said the United States would impose new or higher tariffs on various Chinese goods, including electric vehicles, to target unfair trade practices by China and protect the United States’ competitiveness in manufacturing clean energy products and microchips. There is widespread academic support for the notion that tariffs raise prices for consumers, and that lower-income consumers are hurt disproportionately. Experts said the targeted nature of Biden’s tariffs should limit their impact on consumers.