Today's news brief: The Biden administration has imposed heavy taxes on China, and Trump says to add another 10%.

As of 2024, the Biden administration's tariff policy on Chinese goods is as follows:

- Electric Vehicles (EVs): 100%

- Semiconductors: Expected to increase from 25% to 50% by 2025.

- Steel and Aluminum: Some products currently face a 25% tariff, and the government intends to triple the tariffs on other products with trade review support.

- Solar Cells: To increase to 50% starting in 2024, previously 25%.

- Lithium-Ion Electric Vehicle Batteries: Tariffs have been raised to 25%.

- Critical Minerals: Tariffs on certain minerals will increase to 25%.

- Medical Products:

- Respirators and Masks: Tariffs increased to 25%.

- Syringes and Needles: Tariffs are now 100%.

- Rubber Medical Gloves: To increase to 50% in 2025, and to 100% in 2026.

- Cranes: 25%.

Trump may possibly add another 60% on top of that.

It reminds me of a poem:

When autumn comes on September 8, my flowers bloom while the hundred flowers perish.

The fragrant array rises through Chang'an, the entire city is adorned in golden armor.