Biden announces 100% tariff on Chinese-made electric vehicles
Biden announces 100% tariff on Chinese-made electric vehicles
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.
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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.
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Whatever makes the O&G industry more money, eh?
Spice must flow
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Yeah, cause now the cheap competitor they could compare to just got pricier so that means they can also raise prices
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Didn't we already learn this lesson with Harley Davidson?
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I guess Americans will never get cheap electric cars.
You can always drive them over the border from Mexico.
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I said that US automakers don’t want any Americans buying cheap EVs. They’ll happily sell you an EV just be ready to pay mid-high five to low six figures for it. No way in hell do they want to make 20k EVs.
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The funny thing is, even after the 100% price increase they're still cheaper than american EVs.
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Adjusted for inflation, they're even cheaper than the Geo Metro was. 1998 Metro is around $19k in 2024 dollars, while some of these Chinese cars are clocking under $14k.
However, you should also expect it to function like a car cheaper than a Geo Metro.
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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
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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.
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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?
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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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AFIK, all the subsides for EVa in the US already require them to be made and produced domestically.
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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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God forbid we try to save the planet without making morbillions in shareholder value first.
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As far as I know, the Feds aren't banning Kei style trucks. But most states are banning them from road use. Since they do not meet highway safety standards. But that's what makes the cheap - deleting all the safety equipment and being under powered. But you can still get as many as you like. And you are still welcome to drive them off road.
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The feds aren't banning them but there's a 25% tarrif on importing them because of the chicken tax tarrif.
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deleting all the safety equipment and being under powered
That must be why those death traps regularly kill people in all of the countries where they're regularly used!
And even if that (crap) reason is why: ban them from the freeways, then, not from every fucking road. You know, like mopeds and similar small scooters?
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Electric cars will not save the planet, they will save the auto industry. Use a bike to get around whenever possible if you actually care.
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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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hell yes Americans hate cost effective stuff
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And the environment! It's double whammy of an American policy
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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.
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I predict Trump will make a day-one promise to remove this tariff calling it terrible, just terrible.
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They excerpted Trump on the PBS Newshour yesterday at one of his latest campaign rallies. Apparently his stance on this is that Biden should have done the EV tarriff four years ago. Now, four years ago today, Donald Trump was President, but let's not let that get in the way of a good speech, right?
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It's the chicken tax all over again
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Nice try, Joe, but I will never buy a Tesla. Ever.
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Than buy a Rivian.
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Ain't spending that stupid amount of money for either a Tesla or Rivian. Make something half the price that can run 300 miles, and you will have my attention, (the Chevy Bolt was so close).
EVs are toys for the upper middle class and the rich.
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At $74k per truck, you could buy 2.5 $30k Priusi
The Silverado Electric is at least in an affordable ballpark, at $40k for their base model. But what the hell does everyone need a truck for, anyway? I see them in the office parking garage all the time, and I can't imagine what everyone thinks they're lifting or towing.
Meanwhile, the BYD Seagull goes for under $10k, a third the price of a Nissan Leaf.
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Bezos owns a bit of that.
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I'm still more interested in one than I am a Tesla.
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They'll just make all the parts and send them to the US for assembly.
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Or Mexico. And honestly I’m fine with that. Create some jobs outside of China for a change.
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China has been pretty well known for bringing in their own workers on foreign construction projects. They're unapologetically nation building. I could easily see them continue to do so with manufacturing.
I wouldn't be surprised to find out a majority of US cars are manufactured with Chinese parts. The US is absolutely not nation building. The rust belt has been exported and nobody really wants to bring it back.
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How can anyone see this and not see that the US is a manipulative shithole country? Champion of the free world markets except when they aren't winning, then closed market manipulation and government interference.
The US hasn't been ahead for many years and they can't innovate. So now they just want to keep out actual progress.
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And China isn’t trying to manipulate the market? These Chinese cars are all sold at loss.
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Nobody wants to listen to reason or actually think any of this through they just want their artificially cheap products. The same people who claim to support unions and raising wages for average workers are now arguing against both because they might be able to get one new car out of the deal before all the competition crumbles and we're back to high prices and beholden to China for all our automotive needs. It's ridiculous to have to keep reading this hypocrisy over and over again.
Apparently used vehicles are so 2020 and we should scrap all 220 million of them and build brand new ones because that's what's good for the environment.
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I haven't read this yet but it looks relevant:
https://insideevs.com/features/719015/china-is-ahead-of-west/
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Interesting read, thanks
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the way to do it is a mile based shipping tax on all goods, but congress would have to do that. This is just dumb.
Edit: it does say these EV's are subsidized
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Electric is literally life. Fossil fuel is death. Chose wisely.
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It's literally not.
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Funny how when China makes a bunch of cars it's "over capacity" and needs 100% tariffs, but Japan has been doing the same thing for decades and no one batted an eye.
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Actually japanese cars had the same scare mongering and protectionism
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I think this is to combat subsidies, but it begs the question on why other subsidized products out of china aren't tariffed.
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Why does Biden hate the Earth?
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Throw another one on the pile of reasons to not support him.
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Yeah, don’t forget to vote for him though.
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yeah I love globalism. its been so great.
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Like, I agree, but do you actually think Trump is a better choice?
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It's sad that people come out of the woodworks like you only to invoke the orange man whenever somebody says they don't agree with something Biden is doing. I mean, leaving the MAGA crowd out for now... don't you think we can have a better conversation trying to think beyond the next presidential race?
We know there's probably some anti-Biden propaganda around. We get it. How about you assume for one moment that whoever it is you are replying to is actually smart enough to understand what it means to elect Trump and are already aware to vote for Biden in the general election? Why don't you actually address the problems with Biden without comparing him to Trump?
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