The Biden administration confirmed today that Chinese EVs will be subject to a 100% tariff. That kills any hope of cheap Chinese EVs making it here.
The Biden Administration will officially announce a new 100% tariff on Chinese electric cars today, killing any chance of affordable Chinese-made EVs making it stateside. The new tariffs, which were first reported by the Wall Street Journal last week, will also take aim at Chinese lithium-ion batteries for EVs. Starting this year, all lithium-ion EV batteries from that country will be subject to a 25% import duty.
In recent years, China's automakers have pulled ahead with an aggressive focus on batteries and software, while Western automakers have repeatedly proven to be large, old ships that are difficult to turn around—especially when faced with a few quarters of uneven EV growth. Biden Administration officials worry that Beijing has made an industry with so much overcapacity that it threatens automakers worldwide.
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