evidence: "Tariffs are a direct, regressive tax on Americans, and this tax increase will hit every family," Polis wrote as he reshared Biden’s post. This is horrible news for American consumers and a major setback for clean energy. Tariffs are a direct, regressive tax on Americans and this tax increase will hit every family. https://t.co/ZLYvh3pm2Z — Jared Polis (@jaredpolis) May 14, 2024 [...] A tariff is a government tax imposed on goods and services imported from other countries. Countries often impose tariffs in the name of making their domestic companies more competitive with foreign counterparts; the tariffs either make the foreign items more expensive, putting them at a disadvantage in the marketplace, or they make foreign companies forgo entering the market at all.Biden’s new round of tariffs apply to about $18 billion of annual imports from China, the White House said. Other Chinese goods that will face higher tariffs include batteries, battery components, certain minerals, cranes used at ports, certain medical products, steel and aluminum.Under the new standard, the tariff rate for Chinese-produced electric vehicles will rise from 25% to 100% this year, while semiconductor tariffs will double from 25% to 50% by 2025. Tariffs on lithium-ion batteries, a key component of EVs, will increase from 7.5% to 25%. Tariffs on solar panels will rise from 25% to 50%. Tariffs on steel and aluminum will increase from 0% to 25%.