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EV tariffsCNBC
•74% Informative
President Joe Biden's plan to quadruple tariffs on China -made electric vehicles is unlikely to stave off the threat of more Chinese cars and trucks on U.S. roadways.
The 100% tariff on Chinese EVs, up from a current import tax of about 25% , covers EVs imported from China .
Automotive and trade experts say increased tariffs are a near-term protectionism act that may delay, but won't stop, Chinese automakers from coming to the US with EVs.
The quality and build of vehicles by Chinese automakers have gotten significantly better in recent years .
Chinese companies accounted for 8% of Europe 's all-electric vehicle sales as of September .
EU believes Chinese automakers are undercutting the prices of local models by about 20% in the European market.
Similar tariffs elsewhere could force Chinese companies to move more quickly to establish local production operations or joint ventures.
VR Score
84
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88
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60
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English
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59
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Attention-grabbing headline
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