A bipartisan group of lawmakers earlier this month recommended raising tariffs on goods from China and further restricting investment into the country. If the tariffs are raised, it would “limit access to affordable EVs and components, which will reduce the potential for scaling this technology,” said Bill Russo, founder and chief executive officer of Shanghai-based advisory firm Automobility Ltd.Įven so, there has been increased political pressure in recent weeks in the U.S. side to abide by the WTO rules and provide a fair, just and nondiscriminatory business environment,” Wang Wenbin said at a regular press briefing, describing such measures as “protectionism.” “China firmly opposes this and urges the U.S. consumers, according to the Journal report.Īsked Thursday about the report, a spokesman for China’s foreign ministry told reporters that tariffs “violate the principles of market economy and fair competition and undermine the security of the global industrial supply chain.” Raising those EV tariffs would therefore likely have little immediate impact on U.S. as the world’s biggest seller of electric cars. China’s BYD Co., for example, doesn’t retail its passenger vehicles in North America - despite being on the cusp of overtaking Elon Musk’s Tesla Inc. China exported nearly 48,000 electric cars to North America as of October this year, compared to the more than 564,000 vehicles it sent to Western Europe.Ĭhinese electric vehicles are currently subject to a 25% levy in the U.S., limiting their ability to enter the market. The EV landscape in Europe is different than in the U.S., where tariffs are already high enough to deter competition from China. Beijing has called that investigation a breach of World Trade Organization rules. That dominance has led to tension elsewhere - most prominently in Europe, which in September launched a probe into state subsidies for Chinese EVs with EU officials claiming that China was unfairly flooding the market with cheap cars. While officials in President Joe Biden’s administration have largely left in place Trump-era tariffs on around $300 billion of Chinese goods, the White House and other agencies are debating the levies again, the people said, with an eye on completing a review of the tariffs early in the new year.Ĭhina has become a global powerhouse in electric cars, with BloombergNEF earlier estimating that the country was expected to account for about 60% of the world’s 14.1 million new passenger EV sales in 2023. is considering raising tariffs on Chinese electric cars and other goods as it tries to limit reliance on Asia’s biggest economy and shield its own green industry, the Wall Street Journal reported, citing people it didn’t identify. considering hiking tariffs on China EVs, solar products, WSJ reports Their cars already have a 25% tariff, limiting their ability to enter the marketĪ DongFeng MengShi M-Hero 917 electric off-road vehicle undergoes a test at Dongfeng M-hero Technology Smart Park on December 5, 2023, in Wuhan, Hubei Province of China.
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