White House levy to protect US makers from cheap imports likely to inflame trade tensions
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.
In a move that is likely to inflame trade tensions between the world’s two biggest economies, the White House said it was imposing more stringent curbs on Chinese goods worth $18bn.
Sources said the move followed a four-year review and was a preventive measure designed to stop cheap subsidised Chinese goods flooding the US market and stifling the growth of the American green technology sector.
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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 said China was producing 30m EVs a year but could sell only 22-23m domestically.
Funny how when China makes a bunch of cars it’s “over capacity” and needs 100% tariffs, but Japan has been doing the same thing for decades and no one batted an eye.
Actually japanese cars had the same scare mongering and protectionism
I think this is to combat subsidies, but it begs the question on why other subsidized products out of china aren’t tariffed.