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Biden to announce new 100% tariffs on Chinese EVs

President Joe Biden is expected to announce new tariffs on Chinese electric vehicles, semiconductors, batteries, solar cells, steel and aluminum on Tuesday. Tariffs on electric vehicles will increase to 100%, quadrupling the current tariff of 25%, according to a source familiar with the matter.

This is the latest attempt by the Biden administration to prevent China from undercutting American companies and threaten American manufacturing jobs. Without going into detail about the policy change, national security adviser Jake Sullivan suggested the tariffs were aimed at countering the threat posed by Chinese trade practices.

“It’s no secret that the president, and his entire administration, is concerned about (Chinese) unfair practices that are harming American workers and businesses, about the issue of overcapacity, about the way China has implemented a series of non-trade measures, distorting practices in strategic sectors,” Sullivan told reporters at the White House on Monday.

Regarding the price of electric vehicles, this decision is for the moment largely symbolic. Chinese electric vehicles do not represent a significant share of the U.S. electric vehicle market, but Chinese exports have been growing rapidly overall. up 50% in the last two years. China produces electric cars that cost a fraction of those made by American automakers, and they receive rave reviews.

BYD, the world’s largest electric vehicle maker, has launched a new car, the Seagull, which, according to the Associated Press, “drives well and is assembled with craftsmanship that rivals U.S.-made electric vehicles which cost three times as much. It sells for around $12,000 in China, with a shorter-range version selling for less than $10,000.

The new tariff significantly raising prices for Chinese electric vehicles could ease some pressure on automakers and the United Auto Workers union, which approved Mr. Biden’s re-election took place in January, much later than in 2020. One sticking point was the president’s efforts to transition the economy to electric vehicles, which the union feared would harm to workers. In accepting the endorsement, Mr. Biden promised not to leave America’s auto workers behind.

“China is determined to dominate this market, with mostly Chinese-made electric vehicles and Chinese jobs,” he said. “The previous administration was content to stand aside and let China take all these jobs, but I’m not going to let that happen.”

He added that “companies transitioning to new technologies should retool, restart and rehire in the same factories, in the same communities, with comparable wages, and existing union workers should have the first chance to access these jobs.”

News Source : www.cbsnews.com
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Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
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