Biden Quadruples Tariffs on Chinese Evs, Up from 25% to 100
%The expanded tariffs come after a years-long review of tariffs from the previous administration, and will raise prices
%Electrek 8:05 pm on May 14, 2024
The article discusses US President Biden's tariff measures on China to protect the EV industry, which may increase prices and delay American access to high-tech EVs. It contrasts this with past protectionist moves like those in the Inflation Reduction Act (IRA), which aimed to support domestic manufacturing through tax credits but resulted in higher costs for foreign-made batteries.
- Electric Vehicles: The US has implemented tariffs on Chinese EVs, impacting prices and accessibility.
- Trade Policy: These measures contrast with previous incentives that sought to bolster domestic manufacturing, yet led to higher battery costs.
- Domestic Industry Support: The IRA's tax credit structure favored US-made vehicles but resulted in increased foreign EV prices due to imported batteries.
- Economic Impact: While tariffs may protect domestic industries, they can lead to higher consumer costs and market delays for advanced technologies.
- Political Context: The move occurs amidst an upcoming election, with similar protectionist views from other political figures.
https://electrek.co/2024/05/14/biden-quadruples-tariffs-on-chinese-evs-up-from-25-to-100/