- cross-posted to:
- usnews@lemy.lol
- cross-posted to:
- usnews@lemy.lol
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.
Heavily subsidized, which is equivalent in this context.
How China Rose to Lead the World in Cars and Solar Panels
(paywall-free version)
China Vies to Be World’s Leader in Electric Cars
(paywall-free version)
Finding these articles took about ten seconds in a web search.
That’s not equivalent. Oil and gas are heavily subsidized in the USA as well, that does not mean they’d be running at a loss if it weren’t for the subsidies, it just means their profits would be lower. Please provide a source stating that they’re operating at a loss.