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Rising US Tariffs on Chinese Electric Cars: Impact and Reactions
2024-05-15 15:09:46

Rising US Tariffs on Chinese Electric Cars: Impact and Reactions

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The USA is significantly increasing tariffs on Chinese electric cars, semiconductors, and solar cells, citing concerns over unfair trade practices. The move, with tariffs on EVs reaching over 100%, has sparked tensions between the US and China, with President Biden criticizing Chinese subsidies.

The decision, although few Chinese electric cars are currently sold in the US, aims to protect American industries amid fears of market flooding. The tariff escalation may trigger responses from Europe and reshape industries within China, affecting global trade dynamics and prompting debates within the EU on similar actions.

Related news on that topic:

US Tariffs on Chinese EVs and Other Goods: Impact on Trade ... Domestic Manufacturing

The Biden administration has escalated tariffs on key goods from China, including EVs, batteries, solar cells, and computer chips, to promote fair trade practices and bolster domestic manufacturing. With tariffs hitting sectors like steel, aluminum, and critical minerals, the move seeks to address trade disputes with China and prevent the influx of subsidized goods. Despite concerns over potential market flooding by China, the tariffs aim to protect American industries and jobs, reflecting a broader strategy to safeguard economic interests and enhance competitiveness. The impact of these tariffs extends beyond the US, pressuring the EU to consider similar measures on Chinese EVs amid growing global trade tensions.

US Quadruples Tariffs on Chinese Chips and Electric Vehicles: ... and Reactions

The Joe Biden administration has announced a significant increase in tariffs on Chinese imports, including electric vehicles and semiconductors, to protect US industries and address unfair trade practices. These measures, affecting around $18 billion worth of goods, aim to safeguard domestic jobs and investments. While the move may not have a substantial immediate impact on the US economy, it signals a freeze in US-China economic relations. China has threatened retaliatory actions, and the EU is also under pressure to address Chinese electric vehicle subsidies amid global trade tensions. The tariffs, reaching over 100% on certain goods, highlight the escalating trade tensions between the US and China, with implications for both countries' economies and industries.

Read 23 more recent news on this topic

The press radar on this topic:

Wirtschaft und Börsen-Nachrichten
14. Mai 2024 um 12:10

Foreign Trade USA increases tariffs on Chinese electric cars significantly

Economy
Politics
Finance
The USA is massively increasing import duties for Chinese electric cars, semiconductors, and solar cells, as they accuse China of flooding the markets with artificially cheapened products. According to US President Joe Biden, the increased Chinese electric car exports threaten investments in other countries. China responds with criticism to the tariff increase, mainly seeing it as a campaign maneuver by Biden.
World - South China Morning Post
15. Mai 2024 um 04:00

EU feels heat from all sides as decision on Chinese EV duties looms

Politics
Economy
The European Union (EU) is under pressure to make a decision on whether to impose provisional duties on electric vehicles (EVs) made in China, as a June 5 deadline approaches. EU investigators have gathered evidence of subsidies in the Chinese EV sector that have distorted the European market. Pressure from the US, including President Joe Biden's plan to impose import tariffs on Chinese EVs, is seen as a way to push the EU to take action.
New York Times - Technology
15. Mai 2024 um 04:00

Few Chinese Electric Cars Are Sold in U.S., but Industry Fears a Flood

Politics
Economy
The Biden administration imposed new tariffs on Chinese electric vehicles, although few of these cars are currently sold in the United States. The decision reflects concerns within the American automotive industry about China's potential to flood the market with cheap electric vehicles. American automakers support the tariffs to protect investments and promote competitiveness in the industry.
Wirtschaft und Börsen-Nachrichten
15. Mai 2024 um 07:00

Chinese Imports Trade and Politics Warn EU against Tariff Increase

Politics
Economy
The Foreign Trade Association warns against an EU tariff increase on Chinese imports, as this could lead to possible countermeasures and higher prices. The higher tariffs imposed by the US on Chinese imports are said by the US government to protect the domestic economy and counter unfair competition from China. Federal Minister of Transport Wissing also warns against a trade war through punitive tariffs and argues for international trade with fair competition rules.
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