) CEO Elon Musk expressed his disapproval of the new legislation — which raised tariffs on Chinese electric vehicles from 25% to 100% — despite his previous support for Chinese tariffs.
They're not making any money on them deliberately doing it to put other people out of business for more on this.Well, those comments from Elon Musk came at a tech conference over in Paris and specifically, he said he was surprised when the US made this announcement saying that things that inhibit freedom of exchange or distort the market are not good.
The Rhodium Group put out a study estimating that tariffs would be to be as high as 55% to curb import imports and the concern is something similar could happen here in the US as well.That's something we've heard from other car ceo S as well. Chinese manufacturers specifically, Tavares said when you fight against the competition to absorb 30% of cost competitiveness edge in favor of the Chinese.And the bottom line is this guys, when you think about what Chinese cars or Chinese EVs are selling for, you've got a price tag of roughly $10,000.
They will have to go head to head with them at these very low price points regardless of where those tariffs land.Almost 1.25 million Canadians will have to pay it at least once during their taxpaying lives. And it will likely hit stock prices, too -- Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans renew.
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