this post was submitted on 14 May 2024
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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.

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.

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[–] Magister@lemmy.world 7 points 6 months ago (1 children)

Ford lost an estimated $36,000 on each of the 36,000 EVs it delivered to dealers in the third quarter.

[–] teejay@lemmy.world 4 points 6 months ago (1 children)

Source? And don't link to a Ford article...

[–] Magister@lemmy.world 5 points 6 months ago

Ford lost an estimated $36,000 on each of the 36,000 EVs it delivered t

CNN or Reuters, but ultimately the info comes from Ford, obviously

https://www.reuters.com/business/autos-transportation/ford-reduce-f-150-lightning-production-2024-01-19/