White House levy to protect US makers from cheap imports likely to inflame trade tensions

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.

  • Zron@lemmy.world
    2·
    8 months ago

    I’m excited for affordable electric trucks.

    I do a lot of wood working as a hobby and some commissions for friends, and deeply regret having to sell my old F150 for a van. Now I have to rent a store pickup if I need to move large sheets of plywood or long pieces of dimensional lumber. I also work in the trades, and while it’s possible to move most of the stuff I need in my van, a pickup would be nice, as long as it doesn’t suck down gas like it’s got a hole in the tank.

    Having an electric pickup that doesn’t cost as much as a corvette would be really nice for my use case.