Biden Is Trying to Buy EVs Time With New Tariffs on China. It Might Not Work

Today, the Biden administration announced a near-unprecedented 100 percent tariff on Chinese-made electric vehicles , a move the White House said would protect the American industry from “unfairly priced Chinese imports.” Previously, tariffs on Chinese EVs sat at 25 percent. Electric vehicle batteries and battery components will also be subject to new tariffs—Chinese lithium-ion battery tariffs rise from 7.

Meanwhile, another influential US policy, the Inflation Reduction Act, directs billions to building up domestic supply chains for electric vehicles and other renewable energy sources. But those efforts could take years. “The administration is trying to walk a line,” says Susan Helper, a professor of economics at Case Western Reserve University, who worked on electric vehicle policy in the Biden administration.

Source: Car News Wire (carnewswire.net)

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