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Punitive Tariffs on Chinese EVs Restrict Global Expansion and ...
2024-05-14 15:05:23

Punitive Tariffs on Chinese EVs Restrict Global Expansion and Trade Tensions with US

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The Biden administration's implementation of punitive tariffs on Chinese-made electric vehicles (EVs) is likely to hinder the global expansion plans of Chinese EV manufacturers like BYD and Leapmotor, as it deters them from entering the US market.

This move is expected to impact their brand awareness and sales worldwide. The European Commission's probe into Beijing's subsidies for carmakers adds to the challenges faced by Chinese EV makers in Europe.

The US tariffs aim to create a level playing field for US automakers and address unfair trade practices, leading to escalating trade tensions between the US and China. Stellantis, the owner of Vauxhall, plans to sell Chinese EVs in Europe, criticizing Biden's tariffs and capitalizing on the presence of Chinese car manufacturers in Europe.

Related news on that topic:

Biden's Tariffs on Chinese-made Electric Vehicles to Protect US ... Manufacturers

US President Joe Biden has announced a 100% tariff on Chinese-made electric vehicles (EVs) as part of measures to protect US manufacturers from cheap imports. The tariff increase also applies to EV components such as lithium batteries, critical minerals, solar cells, semiconductors, steel, aluminium, and personal protective equipment. The move aims to create a level playing field for US automakers and workers and reflects Biden's tough-on-China stance. The increased tariffs will impact various sectors including clean energy technologies and critical minerals, and are expected to address unfair trade practices and trade tensions between the US and China. Additionally, the tariffs are likely to restrain Chinese EV manufacturers from pushing their sales in the US and hinder their global expansion plans.

Implications of Tariffs on Chinese Electric Vehicles for Global ... Trade

The escalating trade tensions between the European Union, United States, and China over tariffs on Chinese electric vehicles (EVs) are poised to have far-reaching consequences. While the EU's move to impose tariffs aims to protect its auto industry, it may hinder the transition to low-emission vehicles and provoke retaliatory actions from China, potentially disrupting global supply chains. President Biden's decision to increase tariffs on Chinese EVs in the US further intensifies the trade conflict, with implications for industry competitiveness and consumer prices. These developments underscore the complexities of balancing protectionism with free trade principles in the evolving global economic landscape.

Read 17 more recent news on this topic

The press radar on this topic:

China - South China Morning Post
13. Mai 2024 um 22:00

How China’s EV overcapacity has come to a head after 15 years, and what’s in store for the industrial policy race with US and EU

Politics
Economy
Risks associated with overcapacity in China's electric vehicle (EV) industry are causing tensions between China and the West. The EV industry in China has seen a build-up of capacity over the past several years, leading to friction with the US and EU. While market mechanisms and strained ties with the West have contributed to the issue, experts argue that keeping politics out of the market mechanism is essential.
Investor Relations - South China Morning Post
14. Mai 2024 um 06:35

Punitive tariffs on Made in China EVs likely to restrain BYD, Leapmotor and peers from US market, hurt go-global plans | South China Morning Post

Politics
Economy
Punitive tariffs on Chinese-made electric vehicles (EV) by the Biden administration are likely to deter BYD, Zhejiang Leapmotor, and other local peers from pushing their sales in the US, hindering their global expansion plans. The US market is crucial for the global automotive industry, and without strong sales in the US, Chinese EV assemblers will face challenges in building brand awareness worldwide. Chinese EV makers are also bracing themselves for another blow in Europe due to the European..
New York Times - Business
14. Mai 2024 um 19:54

Biden Will Raise Tariffs on Chinese Electric Vehicles, Chips and Other Goods

Politics
Technology
Economy
Finance
President Biden announced an increase in tariffs on Chinese imports, including electric vehicles, solar cells, semiconductors, and advanced batteries, to protect American industries from unfair competition. He also endorsed maintaining tariffs on over $300 billion worth of Chinese goods implemented by the previous administration. The move reflects Biden's tough-on-China stance and aims to focus on strategic sectors like clean energy and semiconductors.
New York Times - Business
14. Mai 2024 um 18:22

How China Rose to Lead the World in Cars and Solar Panels

Politics
Economy
China has become a dominant player in various industries, producing a third of the world's manufactured goods and maintaining a significant trade surplus. President Biden is expected to increase tariffs on Chinese imports of electric cars and solar panels. China's economic strategy involves heavy lending to key manufacturing sectors to boost the economy.
n-tv.de
14. Mai 2024 um 09:03

También se aplican barreras a otros productos: Biden sube los aranceles de EE. UU. para autos eléctricos de China al 100 por ciento - n-tv.de

Finanzas
Política
El presidente de EE. UU., Joe Biden, aumenta los aranceles de importación para autos eléctricos de China al 100 por ciento. También se incrementan los aranceles para paneles solares, chips y otros productos. El gobierno de EE. UU. acusa a China de inundar los mercados globales con exportaciones artificialmente baratas y de amenazar la competencia justa.
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