White House levy to protect US makers from cheap imports likely to inflame trade tensions

The US president, Joe Biden, has announced a 100% tariff on Chinese-made electric vehicles as part of a package of measures designed to protect US manufacturers from cheap imports.

In a move that is likely to inflame trade tensions between the world’s two biggest economies, the White House said it was imposing more stringent curbs on Chinese goods worth $18bn.

Sources said the move followed a four-year review and was a preventive measure designed to stop cheap subsidised Chinese goods flooding the US market and stifling the growth of the American green technology sector.

…

Despite the risks of retaliation from Beijing, Biden said the increased levies were a proportionate response to China’s overcapacity in the EV sector. Sources said China was producing 30m EVs a year but could sell only 22-23m domestically.

you are viewing a single comment's thread
view the rest of the comments
[–] 5 points 2 years ago

Ford lost an estimated $36,000 on each of the 36,000 EVs it delivered t

CNN or Reuters, but ultimately the info comes from Ford, obviously

https://www.reuters.com/business/autos-transportation/ford-reduce-f-150-lightning-production-2024-01-19/

  • source
  • parent