US Considering Hiking Tariffs on China EVs, Solar Products, WSJ Reports
$BYD COMPANY(01211.HK$ $XPeng(XPEV.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ The article reported that US government is discussing raising tariffs on some Chinese goods, including electric vehicles (EVs), the Wall Street Journal reported today, citing people familiar with the matter.
Chinese EVs entering the US are already subject to a 25 percent tariff, the report noted, adding that raising the tariff likely would have little immediate impact on US consumers.
Chinese EVs entering the US are already subject to a 25 percent tariff, the report noted, adding that raising the tariff likely would have little immediate impact on US consumers.
This will affect popular Chinese EV brand like BYD, Nio, Xpeng, Li Auto etc which some companies plan to push export to US by collaboration with local brand. Chinese EV are currently under subsidy probe in Europe and may be subjected to high tariff. US EV brand like Tesla, GM and Ford will benefit from this policy. Tesla Cybertruck full $7,500 tax credit was approved not long ago.
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Chinese electric vehicles are currently subject to a 25% levy in the US, limiting their ability to enter the market. China’s BYD Co., for example, doesn’t retail its passenger vehicles in North America — despite being on the cusp of overtaking Elon Musk’s Tesla Inc. as the world’s biggest seller of electric cars.
Raising those EV tariffs would therefore likely have little immediate impact on US consumers, according to the Journal report.
Raising those EV tariffs would therefore likely have little immediate impact on US consumers, according to the Journal report.
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$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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Revelation 6 : This doesn’t look good in any way, shape or form. Just another failed Biden foreign and economic policy that has no long term sustainability.
ZnWCOP Revelation 6: This shows that US President election is coming.
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“Ahead of a Presidential election, no candidate of any party loses votes by sounding tough on China trade,” said Robert Carnell, regional head of research for Asia-Pacific at ING Groep NV.
PS Sandy : Tariff on cars that are never imported to Us
this administration is out of its mind circus team
ZnWCOP PS Sandy: US government is discussing raising tariffs on some Chinese goods, including electric vehicles (EVs). Chinese EVs entering (or imported to) the US are already subject to a 25 percent tariff, the report noted, adding that raising the tariff likely would have little immediate impact on US consumers (but big impact to Chinese EV companies).
Revelation 6 ZnWCOP: He has relatively no idea what he is doing. I think the only reason he’s being tough on China is to divert attention away from the fact that he committed treasonous acts against the people of the United States and he’s hoping people will forget or at least go a little easier on him. When the United States should have “Handshake” diplomacy with China, he’s busy destroying everything that has been built since 1972.