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.
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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.
The funny thing is, even after the 100% price increase they’re still cheaper than american EVs.
Not if they use that money to subsidise American EV’s.
Fair point.
Bimbo Baggins: “I think I’ll just keep it!”
One can only hope!
Adjusted for inflation, they’re even cheaper than the Geo Metro was. 1998 Metro is around $19k in 2024 dollars, while some of these Chinese cars are clocking under $14k.
However, you should also expect it to function like a car cheaper than a Geo Metro.