Ticker: US plans major new tariffs on EVs; Nike announces A’ja Wilson shoe

The Biden administration plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China, according to a U.S. official and another person familiar with the plan.

Tariffs on electric vehicles, in particular, could quadruple — from the existing 25% to 100%. The plan was described by the people on condition of anonymity because they were not authorized to provide details ahead of a formal announcement.

The tariffs, expected to be announced Tuesday, come as officials across the Democratic administration have expressed frustration over China’s manufacturing “overcapacity” of EVs and other products that they say pose a threat to U.S. jobs and national security.

Industrialized nations including the United States and its European allies fear a wave of low-priced Chinese exports will overwhelm domestic manufacturing.

Nike announces A’ja Wilson shoe

Two-time WNBA MVP A’ja Wilson is getting a Nike signature shoe.

The deal was announced over the weekend as the two-time defending champion Las Vegas Aces prepared to play a preseason exhibition against the Puerto Rican national team at South Carolina, where Wilson starred for the Gamecocks during her college career.

She posted a photo on social media showing her wearing a sweatshirt saying “Of Course I Have A Shoe Dot Com,” a URL that directed people to Nike’s website with the announcement.

“It’s been incredible working with Nike toward a dream of having my collection, and it really is an honor to take this next step and become a Nike signature athlete,” Wilson said in a news release issued by the sportswear giant.

The shoe, which will be called A’One, will hit the market in 2025.

 

from Boston Herald https://ift.tt/AoHV2JX