The United States has unveiled a sweeping array of new tariffs on Chinese goods, with electric vehicles (EVs) being a key focus of president Joe Biden’s announcement. These measures appear to be designed to protect US manufacturers from cheap imports and could increase trade tensions between the world’s two biggest economies, The Guardian reports.
“American workers can out-work and out-compete anyone as long as the competition is fair, but for too long it hasn’t been fair,” Biden said during a speech in the White House Rose Garden. “We’re not going to let China flood our market,” he added, as reported by Reuters.
In his speech, it was announced that the EV duties would be quadrupled from 25% to 100%, which would please Tesla CEO Elon Musk. Meanwhile, levies will rise from 7.5% to 25% on lithium batteries, which shouldn’t affect US production that much if these batteries aren’t sourced from China. Tesla in the US uses batteries from Panasonic (Japan), LG (South Korea) or its own made-in-America cells, but other production sites in Shanghai and Berlin use CATL and BYD batteries from China.
Tariffs on steel and aluminium, which range from 0% to 7.5%, will also be raised to 25%, while its from 0% to 25% on critical minerals, from 25% to 50% on solar cells and from 25% to 50% on semiconductors.
The US imports very few Chinese-made EVs, with some experts viewing the eye-grabbing 100% duty being more of a political move than a practical one. According to Autoblog which cited Sam Fiorani of AutoForecast Solutions on Yahoo Finance, only Buick, Lincoln, Lotus, Polestar and Volvo currently ship vehicles made in China into the US.
Among those brands, Geely-owned Polestar and Lotus are the only ones that import EVs, with the latter doing so in extremely limited quantities. As for the former, it plans to begin producing the Polestar 3 in South Carolina later this year, which would circumvent the high duty if the electric crossover was made in China.
Fiorani also pointed out that Chinese automakers with production sites outside of China, like in Mexico or South Korea, can get around basic legislation. “Congress is looking to control the importation of vehicles by Chinese brands, but that will be difficult when they’re not made in China,” he said.
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Good job ..Biden is useless on many fronts but he’s right on this one
Malaysian companies that export to us win from this
How about iphone?
Fully agreed. USA must maintains as top carbon producer in the world. Sells more internal combustion v8 engine automobiles. There loves there annual tornado seasons and welcomes hurricanes.
American workers can out-work and out-compete anyone? Wtf, you can’t compete that’s why you’re imposing these tariffs to “level the playing field”. The white people have regressed such that they now require crutches to stand on much like our NEP. Oh how the mighty have fallen. The future will be controlled by hard working civilization and not those who think they are special and need to be protected
@Sohai, you are the cleverest Sohai in the world. You are absolutely right
any intelligent takes from the usual suspects here? come on, i’m waiting.
The world should team up and boycott USA in all forms actually for keeping on instigating war affairs to gain ‘haram’ profit from selling weapons! USA is the mother of all cancers for planet earth!
The Chinese need to set up Plant @ the USA for American’s job opportunity.
maybe pressure from Musk
So US copied Tun M’s strategy to protect US brand and fend off China’s brand… should we be proud?
Our gov should also put a stop to this garbage. They come in cheap with even cheaper parts and materials.
https://www.energytrend.com/news/20221018-30074.html#:~:text=China%2C%20which%20is%20fastest%20in,that%20of%20traditional%20gasoline%20vehicles.
Must help to boost local ev automaker Lucid Tesla Rivan sales
People say Trump was crazy but back when he was president, the world economy & politics was not as crazy as today, inflation was under control and everyone was making money & be happy. This is the difference with Biden, where Trump runs the country like a corporation while Biden runs it like his fiefdom to rule.
The world needs Trump back to bring it back to sanity.
Tq to all PH BN voters. Syukur kereta EV murah2
Biasalah puak zionis ni, bila tak boleh compete dia main ban atau tariff. Ini bukti bahawa China’s tech sudah tewaskan tech Amerika. Less to us and more to the world. Tapi bila China buat tariff sama keatas jenama Amerika seperti Ford, Cadillac dan Buick, mereka semua bankrapt dalam masa seminggu. Keluarkan popcorn and watch how America collapse before our very eyes. Hahahaha. Free Palestine
China tech belum tewaskan amerika lagi, cuma pricing saja yang sudah tewaskan amerika
Dah lama tewas Amerika la. Apa tech Amerika ada yang lagi power hari ini? Tesla pun buat kat China. NASA? sejak bila NASA ada ke bulan atau MARS? Space statioin Amerika ni pun tengah karat reput dan outdated kat langit. Kat Afghanistan pun ditewas teruk oleh mat Tali kat sana pakai selipar dan Toyota je. Kat Ukraine senjata Amerika pun tak leh tahan lebih dari 2 minit kat battle field. Hypersonic missile dari Russia sekelip mata bomb habis senjara Amerika. Sampai hari ini Amerika tak ada pun sebiji hypersonic missile. Cuma 3 negara je yang ada; China, Russia dan Iran. Mungkin mereka ada jual sedikit kepada kawan baik mereka Kim Jong Un juga.
Haritu ada viral Kim Jon Un bersiar2 di mall Malaysia dgn beberapa bodyguard smbil belanja aiskrim. Saya rasa ada perbincangan rahsia berlaku di negara kita.
How about currency fair exchange value?
“American workers can out-work and out-compete anyone as long as the competition is fair, but for too long it hasn’t been fair,” – Biden
Then he proceeds to impose a 100% Duty hahaha, truly tok kok
Under Biden, so far all we see is Inflation, Hikes, Sanctions, Embargos, Limiting of 2nd parties to 3rd parties technologies, 100% duty hikes.
Those incapable US politician cheerleading for election. Same goes for most electoral countries when prep for election.
You’re right Andrew. Those electoral system with meritocracy are satanic western system that is meant to weaken other countries so they can control them. That is why the west especially America so adamant for every country to adopt their “Democratic” system so they can easily divide and conquer through media brainwashing using CNN, BBC, MalaysiaKini, youtube, Facebook dll
Our government does the same for ev below rm100k, otherwise p1 p2 b-segments kena bungkus, even for Vios & City…haaa
100% terus…
I guess JB took lesson from someone here where back in 1985 P1 was given tongkat by increasing tax on all import cars.
Sore loser. If you can’t win then ban them. What a low life move.
waa, got tongkat also
Baik punya
Cant compete?? Just raise tariff… it’s a no brainer
they are just bunch of hypocrite…..free market & let supply demand determine equibrium…hahahahaha