First Thing: Biden announces 100% tariff on Chinese-made electric vehicles
Increased levy to protect US makers from cheap imports likely to worsen trade tensions with Beijing. Plus, chaos on the set of Francis Ford Coppola’s MegalopolisGood morning.Joe Biden has announced a 100% tariff on Chinese-made electric vehicles (EVs) as part of a raft of stringent policies developed to shield US manufacturers from cheap imports.How significant is this? At the moment, it’s largely symbolic – Chinese EVs have already been virtually excluded from the US market by tariffs previously introduced by Donald Trump.On the other hand … Lobby groups have suggested Beijing could pose a future threat by using exports to make up for a frail domestic economy, which the Alliance for American Manufacturing claims would result in an “extinction-level event” for US carmakers.How is this affecting aid? It’s having a real impact. The HRW report found: “These attacks are having a chilling effect on efforts to provide life-saving aid in Gaza.” Continue reading...
Increased levy to protect US makers from cheap imports likely to worsen trade tensions with Beijing. Plus, chaos on the set of Francis Ford Coppola’s Megalopolis
Good morning.
Joe Biden has announced a 100% tariff on Chinese-made electric vehicles (EVs) as part of a raft of stringent policies developed to shield US manufacturers from cheap imports.
How significant is this? At the moment, it’s largely symbolic – Chinese EVs have already been virtually excluded from the US market by tariffs previously introduced by Donald Trump.
On the other hand … Lobby groups have suggested Beijing could pose a future threat by using exports to make up for a frail domestic economy, which the Alliance for American Manufacturing claims would result in an “extinction-level event” for US carmakers.
How is this affecting aid? It’s having a real impact. The HRW report found: “These attacks are having a chilling effect on efforts to provide life-saving aid in Gaza.” Continue reading...
