A worker assembles an SUV at a car plant of Li Auto, a major Chinese EV maker, in Changzhou in eastern China. Joe Biden has announced huge new tariffs on the imports on Chinese electric vehicles.A worker assembles an SUV at a car plant of Li Auto, a major Chinese EV maker, in Changzhou in eastern China. Joe Biden has announced huge new tariffs on the imports on Chinese electric vehicles.
The Alliance for American Manufacturing has said the dumping of Chinese EVs to the US market would be an “extinction-level event” for its carmakers. Some experts are warning that there could be an accelerated shift of Chinese production to Mexico, as carmakers seek to bypass the tariffs, with some signs that this is already occurring.
An editorial in Chinese state media said US consumers would bear the consequences of the moves, adding that the Biden government was “writing a new chapter in undermining fair trade and environmental protection.” Against a background of low unemployment and economic growth above that of most other western nations, the White House will be hoping that the new tariffs don’t worsen inflation levels that have already angered US voters.
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