- Biden administration mulls raising tariffs on select Chinese goods, including electric vehicles, per Wall Street Journal sources.
- China’s vehicle exports forecasted to surge by 25% in the upcoming year to 5.3 million units, due to overcapacity and weakened domestic demand.
- Bipartisan U.S. lawmakers recently urged tariff hikes on Chinese-made vehicles and sought ways to curb Chinese exports via Mexico.
- Current tariffs of 25% on Chinese automobiles were initially imposed during the Trump administration and extended under President Biden.
- U.S. government reviewing about $300 billion of Trump-era tariffs on Chinese goods; deliberations expected to conclude in early 2023, reports suggest.