Biden’s Plan to Raise Tariffs on Chinese Electric Vehicles
President Joe Biden is gearing up to announce a hike in tariffs on evs-destined-for-dominance-no-doubt/” title=”Rivian CEO: EVs Destined for Dominance, No Doubt”>electric vehicles (EVs) imported from China, effectively shutting the door on the possibility of the United States being able to afford the country’s significantly more affordable and, in many instances, more appealing plug-in vehicles.
Concerns Over Domestic Competition
Certain politicians have expressed apprehension that American automakers would be unable to compete with the likes of BYD‘s Seagull, which retails for approximately $10,000. They have called for an “allied EV supply chain” that excludes China, rendering EVs from the country ineligible for the tax credit.
Potential Impact on Carbon Emission Reduction Efforts
Earlier this year, the Biden administration took steps to waive tariffs on certain Chinese EV batteries. However, the proposed increase in tariffs on imported Chinese EVs could jeopardize the president’s efforts to curb carbon emissions stemming from the transportation sector.
4 Comments
Oh, so now the EV market’s caught in the US-China tiff; classic power move!
Biden’s stance? Just another chapter in the US-China trade saga!
Biden’s playing hardball, guess he’s not here for China’s EV discount deals.
So, Biden’s drawing lines in the economic sand against China’s EV push, huh? Interesting.