Why Chinese EV tariffs may not work

[Pelican Press 0]

Why ******** EV tariffs may not work

The ******** auto sector is increasingly making global automakers and politicians hot under the collar.

In the early 1980s, the ******** auto industry barely existed. Today the country has the capacity to make about 40 million vehicles annually — enough to supply half the world.

Only about 25 million cars sold in the country in 2023, according to Dunne Insights, a firm that tracks the auto market in China and other ****** countries. To offload the excess, China is increasingly looking to export. It sent cars to more than 100 countries last year, according to Dunne Insights CEO Michael Dunne.

Dunne and other insiders say it’s only a matter of time before ********-branded cars arrive in the U.S. A few brands, such as Volvo and its subsidiary Polestar, are already owned by a ******** company, Geely, even though the brands are based in Sweden.

“I call it the great Godzilla,” Dunne said. “The world has never seen an auto industry of this size and scale.”

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a large share of ********* shoppers, especially younger ones, would be happy to buy a ******** car, despite common privacy concerns.

Not everyone shares that enthusiasm. President Joe Biden last month introduced stiff tariffs on ******** EVs, effectively doubling the list price, which can otherwise be as cheap as $11,500. The administration says ******** firms have benefited from unfair government support, and ******** EV imports threaten the Biden

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Some politicians have gone further. Sen. Sherrod Brown, D-Ohio,

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, “Tariffs are not enough. We need to ban ******** EVs from the US. *******.”

Tesla CEO Elon Musk criticized the tariffs, but he said earlier in 2024 that without trade barriers most Western automakers would be demolished by ******** competition.

But a few auto industry insiders are skeptical that tariffs will be able to hold off ******** imports for long. Some say they may even do more harm than good.

Bill Russo, a former Chrysler executive who runs a Shanghai-based consultancy called Automobility, said recent history shows the limitations of tariffs.

The trade war started under President Donald Trump may have been aimed at Beijing, but it hurt ********* automakers by raising the cost of parts, Russo said. In the end it may have also accelerated the globalization of ******** firms by forcing them to invest in other countries that would help them dodge the tariffs.

Watch the video to learn more.

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Trade regulation,Government and politics,Import and export prices,Taxes,Transportation,Electric vehicle manufacturing,Electric vehicles,Automobile manufacturing,Autos,Michael Dunne,China,Sweden,Tesla Inc,Donald Trump,Joe Biden,Breaking News: Business,Retail industry,Video First,business news
#******** #tariffs #work

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