The new set of tariffs applied to US imports from China includes 100% on EVs, 50% of solar cells, 25% of steel, aluminum and EV batteries and critical minerals. There’s also a 50% tariff on semiconductors, to include modern categories of solar-grade polysilicon and solar wafers. As China enjoys deflation in contrast to the rest of the world’s inflation, these tariffs are likely not yet steep enough to exclude Chinese goods. Even though a 100% tariff, some Chinese EVs will, amazingly, still be the cheaper option, and similar contrasts be found for all of the other goods. This doesn’t necessarily mean the policy is insufficient or foolish – just that further hikes to the tariff rate would be appropriate in…