White House levy to protect US makers from cheap imports likely to inflame trade tensions

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.

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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.

  • Breve
    648·
    6 months ago

    Oh, like the time in 2009 when the US government gave $81 billion dollars to the automotive industry? Or again in 2023 when Biden put $12 billion in incentives on the table for them to make EVs?

    • 3volver@lemmy.world
      211·
      6 months ago

      Nailed it. Sick and fucking tired of hearing the “oh China’s unfair subsidies blah blah” bullshit. The US has been doing the same thing, just we’ve had our futures sold to corporation’s profit margins.