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United States to hike taxes on Chinese EVs

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U.S. President Biden visits Milwaukee
  1. Biden administration mulls raising tariffs on select Chinese goods, including electric vehicles, per Wall Street Journal sources.
  2. 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.
  3. Bipartisan U.S. lawmakers recently urged tariff hikes on Chinese-made vehicles and sought ways to curb Chinese exports via Mexico.
  4. Current tariffs of 25% on Chinese automobiles were initially imposed during the Trump administration and extended under President Biden.
  5. U.S. government reviewing about $300 billion of Trump-era tariffs on Chinese goods; deliberations expected to conclude in early 2023, reports suggest.
SourceReuters

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