The administration wants to keep cheap Chinese EVs out of the U.S. market and prevent domestic automakers "While there are essentially NO current Chinese EVs sold in the US … both parties want it to stay that way," Evercore ISI analyst Chris McNally wrote Monday in a research note.in European markets and could be a big hit with Americans during high inflation while spurring automakers to race to come up with competitively priced products.
Meanwhile, progressives say that Chinese EVs are cheap because manufacturers there cut corners when it comes to labor and the environment.for U.S. automakers and U.S. autoworkers," said Lael Brainard, National Economic Council director, on the call with reporters. In some ways, the U.S. is now following the Chinese playbook of offering a big helping hand to a nascent industry.
The tariffs "will make sure that historic investments in jobs spurred by President Biden's actions are not undercut by a flood of unfairly underpriced exports from China," Brainard said.
Tariffs China White House
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