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.
As well as a tariff increase from 25% to 100% on EVs, levies will rise from 7.5% to 25% on lithium batteries, from zero to 25% on critical minerals, from 25% to 50% on solar cells, and from 25% to 50% on semiconductors. 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 saidBiden’s car tariffs are largely symbolic because Chinese EVs were virtually locked out of the US by tariffs imposed by Donald Trump during his presidency. However, lobby groups have suggested there is a future threat as Beijing seeks to use exports to compensate for the weakness of its domestic economy.
Biden has taken a hard line on trade since arriving at the White House in 2021 and believes his plan offers a more targeted – and less risky – approach to the threat posed by China than that of his rival.Get set for the working day – we'll point you to all the business news and analysis you need every morningon “every single car that comes across the line” from Chinese-owned manufacturing plants in China. “They are not going to sell those cars,” he said.
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