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submitted 6 months ago by MicroWave@lemmy.world to c/news@lemmy.world

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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[-] assassinatedbyCIA@lemmy.world 172 points 6 months ago

I guess Americans will never get cheap electric cars. Make no mistake. US automakers aren’t going to use this tariff to buy time to make competitive cheap electric cars. They’re just going to rest on their laurels and continue to sell large overpriced trucks, SUV and their EV counterparts.

[-] CaptainSpaceman@lemmy.world 37 points 6 months ago

Whatever makes the O&G industry more money, eh?

Spice must flow

[-] JJROKCZ@lemmy.world 36 points 6 months ago

That’s what pisses me off here, I just want something affordable to get from a-b work commute, I’m not spending $80k on an electric suv that I only have because I’m forced into work.

It’s gonna end up with me buying a moped or small motorcycle to get to work at reasonable cost

[-] assassinatedbyCIA@lemmy.world 10 points 6 months ago

Citizen, you must pay tribute to your CEO overlords!

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[-] JustARaccoon@lemmy.world 21 points 6 months ago

Yeah, cause now the cheap competitor they could compare to just got pricier so that means they can also raise prices

[-] PlantJam@lemmy.world 9 points 6 months ago

Didn't we already learn this lesson with Harley Davidson?

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[-] OutOfMemory@sh.itjust.works 77 points 6 months ago

The funny thing is, even after the 100% price increase they're still cheaper than american EVs.

[-] Mataresian@lemmy.dbzer0.com 19 points 6 months ago

Not if they use that money to subsidise American EV's.

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[-] gibmiser@lemmy.world 61 points 6 months ago

Simple way to make this policy make sense. Instead of a tariff on imports make it a huge subsidy on domestic EVs. We can give the military contractors billions, but giving the American people cheap cars is somehow a bad investment? Soon many positive side effects of a direct, non monetary stimulus

[-] echutaa@programming.dev 34 points 6 months ago

There’s no incentive for US automakers to build cheaper EVs from this. This is just protectionism which is fine when China is subsidizing their production past the point of profitability, but this will still work against making American EVs more affordable.

[-] RememberTheApollo_@lemmy.world 30 points 6 months ago* (last edited 6 months ago)

Didn’t US companies that were making EV raise their prices as soon as the government added or increased buyer incentive rebates?

The greedy assholes basically pocketed the rebate while the consumer got nothing.

So IMO these manufacturers will just pocket a significant chunk of the subsidy and pass little of the savings on to the consumer. Already many of them claim financial woes, it’s no stretch for them to soak up the cash and say “but we had to…” and get no punishment because the administration doesn’t want to kill the industry it’s trying to support. I mean, $55bn pay packages have to come from somewhere, right?

[-] gibmiser@lemmy.world 9 points 5 months ago

Make the subsidy based on current prices and only EVs that are X price or below qualify. There are solutions, we would just have to, I dunno, craft thoughtful legislation aimed at helping Americans and not companies? Sounds like a lot of work though...

Or let me put it this way: do you think lawmakers write the laws they sign? Industry groups and lobbyists write the laws, lawmakers tweak them or just sign them.

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[-] Argongas@kbin.social 16 points 6 months ago

AFIK, all the subsides for EVa in the US already require them to be made and produced domestically.

[-] mlg@lemmy.world 37 points 6 months ago

They're banning 25 year old kei trucks, they were definitely not gonna allow China to compete.

God forbid we try to save the planet without making morbillions in shareholder value first.

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[-] fritobugger2017@lemmy.world 29 points 5 months ago

When China opens up it's domestic market to international goods then the rest of the world should consider doing the same. Until then, match every barrier to entry.

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[-] nutsack@lemmy.world 28 points 6 months ago

hell yes Americans hate cost effective stuff

[-] Shyfer@ttrpg.network 11 points 6 months ago* (last edited 6 months ago)

And the environment! It's double whammy of an American policy

[-] Etterra@lemmy.world 27 points 5 months ago

Lol he's beating Trump to it. It won't help him at all, but it is funny because it will piss the orange asshole off.

[-] darkpanda@lemmy.ca 21 points 5 months ago

I predict Trump will make a day-one promise to remove this tariff calling it terrible, just terrible.

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[-] caboose2006@lemmy.ca 23 points 6 months ago

It's the chicken tax all over again

[-] S_204@lemm.ee 17 points 6 months ago

I'm still more interested in one than I am a Tesla.

[-] TheDemonBuer@lemmy.world 17 points 5 months ago

Nice try, Joe, but I will never buy a Tesla. Ever.

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[-] issastrayngewerldkbin@kbin.social 11 points 6 months ago

They'll just make all the parts and send them to the US for assembly.

[-] reddig33@lemmy.world 11 points 6 months ago

Or Mexico. And honestly I’m fine with that. Create some jobs outside of China for a change.

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this post was submitted on 14 May 2024
347 points (98.3% liked)

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