US increased tariffs on China's electric vehicles a large mistake
7 months, 1 week ago

US increased tariffs on China's electric vehicles a large mistake

China Daily  

A visitor experiences BYD's U9 electric vehicle during the China Brand Expo in Shanghai, May 11, 2024. Foreign Ministry spokesman Wang Wenbin said on Wednesday that the US tariff increases on electric vehicles and semiconductors from China is another mistake Washington has made after it continuously politicizes economic and trade issues. "This will significantly push up the costs of imported products and it is the consumers in the US that will suffer more losses," Wang said at a regular news briefing in Beijing. US President Joe Biden announced on Tuesday that he is quadrupling tariffs on Chinese electric vehicles to 100 percent and imposing new levies on computer chips, solar cells and lithium-ion batteries. Wang cited a report from the rating agency Moody's Investors Service saying that US importers absorbed more than 90 percent of the additional costs caused by the increased US tariffs on Chinese goods.

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History of this topic

Americans rush to buy cars, appliances before Trump's new tariffs
4 days, 17 hours ago

Americans rush to buy cars, appliances before Trump's new tariffs

China Daily  

NEW YORK -- Americans are scrambling to stock up on cars, appliances and other big-ticket imports in anticipation of new tariffs from the Donald Trump administration, a spending spree that could reignite the very inflation buyers are hoping to avoid, reported The Washington Post on Thursday. "President-elect Trump has vowed to enact widespread tariffs as soon as he takes office …

US manufacturers are stocking up on imports ahead of tariffs
1 week, 4 days ago

US manufacturers are stocking up on imports ahead of tariffs

Live Mint  

U.S. manufacturers are stockpiling imported parts and raw materials in anticipation of President-elect Donald Trump imposing new tariffs next year. U.S. industrial manufacturers and consumer-packaged-goods companies are buying up critical parts and raw materials, such as emulsifiers and flavor enhancers, driving up demand, according to GEP, a supply-chain software company that gathers the data. U.S. businesses are giving priority to …

US hikes tariffs on imports of Chinese solar wafers, polysilicon and tungsten products
1 week, 5 days ago

US hikes tariffs on imports of Chinese solar wafers, polysilicon and tungsten products

Associated Press  

BANGKOK — The Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect U.S. clean energy businesses. The notice from the U.S. Trade Representative’s office said tariffs on Chinese-made solar wafers and polysilicon will rise to 50% and duties on certain tungsten products will increase to 25%, effective on Jan. 1, following …

Trump is threatening to raise tariffs again. Here’s how China plans to fight back
2 weeks ago

Trump is threatening to raise tariffs again. Here’s how China plans to fight back

LA Times  

President-elect Donald Trump has threatened to impose new tariffs on Chinese imports when he takes office, a move that would deepen a trade war he started six years ago. Trump kicked off a trade war in 2018 by imposing 25% tariffs on imports from China — including industrial machinery, cars, auto parts and television cameras. Last week, the U.S. expanded …

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners: China Daily editorial
2 weeks, 1 day ago

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners: China Daily editorial

China Daily  

This photo taken on Jan 19, 2023 shows the US Capitol building in Washington, DC, the United States. To those worrying about the uncertainties heralded by a new incoming United States administration and the president-elect's unpredictability, there is one thing at least that is predictable: He will continue wielding the baton of tariffs. On the campaign trail, he told US …

Trump's Tariffs In His First Term Did Little To Alter Economy — But This Time May Be Different
3 weeks, 5 days ago

Trump's Tariffs In His First Term Did Little To Alter Economy — But This Time May Be Different

Huff Post  

LOADING ERROR LOADING WASHINGTON — Donald Trump loved to use tariffs on foreign goods during his first presidency. Republican presidential nominee former President Donald Trump listens during a campaign rally at Santander Arena, Monday, Nov. 4, 2024, in Reading, Pa. via Associated Press Trump also posted on Monday that Chinese imports would face additional tariffs of 10% until Beijing cracks …

Wall Street’s response to more tariffs: Been there, done that
3 weeks, 5 days ago

Wall Street’s response to more tariffs: Been there, done that

Live Mint  

Wall Street isn’t thrilled about the return of Donald Trump’s tariff threats. His newly proposed 25% tariffs on imports from Canada and Mexico—the U.S.’s two largest trading partners—would add 0.8 percentage point to a key inflation gauge next year if just half of the costs are passed on to consumers, according to a Deutsche Bank analysis. The two countries, along …

Opinion: Biden has a small window to make big fixes to U.S. trade policy
1 month ago

Opinion: Biden has a small window to make big fixes to U.S. trade policy

LA Times  

The return of Donald Trump to the White House in 2025 will spark a significant shift in U.S. economic policy across numerous issue areas, but changes to U.S. trade and industrial policy might be more subtle than severe. After campaigning in 2020 against the broad-based and damaging tariffs Trump imposed, President Biden maintained and even expanded U.S. trade restrictions and …

Donald Trump likely to impose 40% tariff on China imports in 2025, risking growth by 0.5-1% point: Report
Trending News
1 month ago

Donald Trump likely to impose 40% tariff on China imports in 2025, risking growth by 0.5-1% point: Report

Live Mint  

The US could impose nearly 40 per cent tariffs on imports from China early next year, potentially slicing growth in the world's second-biggest economy by up to one percentage point. However, most economists also said they do not expect blanket 60 per cent tariffs on Chinese goods in early 2025 as this could accelerate inflation within the US. "We expect …

Not just China, these US allies too could suffer the most by Donald Trump's tariffs
1 month, 1 week ago

Not just China, these US allies too could suffer the most by Donald Trump's tariffs

Hindustan Times  

President-elect Donald Trump has pledged to levy tariffs on imported goods as part of his second-term economic strategy. During his election campaign, Trump promised to employ tariffs to promote American companies, imposing up to 60 percent levies on Chinese goods and up to 20 percent on imports from other nations. Europe would be severely affected if… Speaking to Newsweek Dr. …

China anxious as Trump victory may intensify trade wars
Trending News
1 month, 2 weeks ago

China anxious as Trump victory may intensify trade wars

Firstpost  

China’s ambassador to the US, Xie Feng said that the differences between the two nations should be the driving force for exchanges and mutual learning rather than ‘an excuse for rejection and confrontation’, and that the successes of each were opportunities for the other There are no winners in tariff or trade wars, nor in wars over science and technology …

The Impact of Higher Tariffs On Inflation In The U.S. And Global Trade Dynamics
1 month, 2 weeks ago

The Impact of Higher Tariffs On Inflation In The U.S. And Global Trade Dynamics

The Quint  

Understanding Tariffs and Inflation What Are Tariffs? The intent behind tariffs typically includes protecting domestic industries from foreign competition, raising government revenue, and influencing international trade balances. In January 2018, the Trump administration imposed up to 30% tariffs on imported solar panels to protect U.S. manufacturers from foreign competition, particularly from countries like China. This action aimed to promote the …

China records highest export growth in 2 years amid looming Trump’s 60% tariff threat
Trending News
1 month, 2 weeks ago

China records highest export growth in 2 years amid looming Trump’s 60% tariff threat

Firstpost  

Exports far surpassed analyst’s estimates of about 5.5 per cent growth and outpaced September’s growth of just 2.4 per cent. China’s exports rose 12.7 per cent in October from a year earlier, the fastest monthly growth in more than two years, according to customs data released Thursday. It showed imports fell 2.3 per cent in October from a year earlier, …

What to know about Europe's tariffs on Chinese electric vehicles
1 month, 3 weeks ago

What to know about Europe's tariffs on Chinese electric vehicles

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The European Commission, the EU’s …

EU Imposes 45.3% Tariffs on Chinese EVs, Sparking Trade War with China
1 month, 3 weeks ago

EU Imposes 45.3% Tariffs on Chinese EVs, Sparking Trade War with China

Firstpost  

The European Union (EU) has imposed tariffs of up to 45.3 per cent on Chinese-built electric vehicles to counter alleged subsidies. The new rates will take effect the following day and will apply to Chinese brands' share of the EU market, which is estimated to be 8 per cent from below 1 per cent in 2019. The EU's stance towards …

The EU will impose duties on electric vehicle imports from China from Thursday
1 month, 3 weeks ago

The EU will impose duties on electric vehicle imports from China from Thursday

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

"Misleading": Trump touts tariffs as miracle cure-all — but Americans stand to lose the most
3 months ago

"Misleading": Trump touts tariffs as miracle cure-all — but Americans stand to lose the most

Salon  

As ghosts and monsters prepare to strike this Halloween, Americans might find that what haunts them most are not the ghouls at the door—it's the price tags at the store. As stubborn inflation has eased, former President Donald Trump and President Joe Biden may spook Americans all over again by slapping tariffs on pretty much everything that dares cross U.S. …

US blasted for high subsidies to PV sector
3 months ago

US blasted for high subsidies to PV sector

China Daily  

An aerial photo of the 100 MW tower for the solar power plant project in Cape Town, South Africa, Aug 20, 2024. The China Photovoltaic Industry Association has expressed serious concerns about and strong opposition to the United States' distorting the global solar market by providing excessive subsidies to US companies and imposing high tariffs on imported solar products. Experts …

US blasted for high subsidies to PV sector
3 months ago

US blasted for high subsidies to PV sector

China Daily  

An aerial photo of the 100 MW tower for the solar power plant project in Cape Town, South Africa, Aug 20, 2024. The China Photovoltaic Industry Association has expressed serious concerns about and strong opposition to the United States' distorting the global solar market by providing excessive subsidies to US companies and imposing high tariffs on imported solar products. Experts …

Experts: More tariffs will be costly to US consumers
3 months ago

Experts: More tariffs will be costly to US consumers

China Daily  

American consumers could soon be stung with rising costs for buying imported goods, warn economists and retail trade organizations, after the Biden administration finalized tariff increases on certain products made in China. "Lower-income US consumers will face the biggest consequences from the new tariff hikes," Thomas Fullerton, an American economist and economics professor at the University of Texas at El …

Tariff hikes will hit US consumers, experts say
3 months, 1 week ago

Tariff hikes will hit US consumers, experts say

China Daily  

The United States' latest move to raise tariffs on certain Chinese products threatens the stability of global supply chains and will ultimately pass the burden onto its consumers, market watchers and corporate executives said on Sunday. The Office of the US Trade Representative announced on Friday that it has finalized tariff hikes on selected Chinese products following a four-year review …

US locks in steep China tariff hikes, many to start Sept. 27
3 months, 1 week ago

US locks in steep China tariff hikes, many to start Sept. 27

Hindustan Times  

* US locks in steep China tariff hikes, many to start Sept. 27 USTR maintains tariffs of 100% on Chinese EVs, 50% on semiconductors, 25% on batteries, steel * USTR doubles tariffs on Chinese face masks, surgical gloves syringes * US adds China tariff exclusions on five machinery categories * White House adviser says tariffs counteract 'unfair' China EV cost …

Biden imposes 100pc tariffs on Chinese electric cars
3 months, 1 week ago

Biden imposes 100pc tariffs on Chinese electric cars

The Telegraph  

Joe Biden has imposed steep tariffs on hundreds of billions of dollars of Chinese goods, despite Kamala Harris calling similar levies proposed by Donald Trump a “sales tax”. The decision comes despite Ms Harris’s criticism of Chinese tariffs proposed by Trump, which she said would amount to a tax on consumers and worsen inflation. During the presidential debate on Tuesday, …

U.S. trade deficit widens in July on imports
3 months, 2 weeks ago

U.S. trade deficit widens in July on imports

The Hindu  

The U.S. trade deficit widened sharply in July as businesses front-loaded imports in anticipation of higher tariffs on goods, suggesting that trade could remain a drag on economic growth in the third quarter. Economists polled by Reuters had forecast the trade deficit would increase to $79.0 billion from the previously reported $73.1 billion in June. President Joe Biden's administration has …

US businesses raise imports over tariff fears
3 months, 3 weeks ago

US businesses raise imports over tariff fears

China Daily  

A container ship of China's COSCO Shipping docks at a container terminal of the Port of Long Beach in California, the United States, Aug 20, 2021. "We are going to have 10 to 20 percent tariffs on foreign countries that have been ripping us off for years," he said in a speech in North Carolina on Aug 14. Mary Lovely, …

US businesses raise imports over tariff fears
3 months, 3 weeks ago

US businesses raise imports over tariff fears

China Daily  

A container ship of China's COSCO Shipping docks at a container terminal of the Port of Long Beach in California, the United States, Aug 20, 2021. "We are going to have 10 to 20 percent tariffs on foreign countries that have been ripping us off for years," he said in a speech in North Carolina on Aug 14. Mary Lovely, …

Planned tariff hikes targeting China self-serving show by US politicians: China Daily editorial
3 months, 3 weeks ago

Planned tariff hikes targeting China self-serving show by US politicians: China Daily editorial

China Daily  

Fully loaded container ships are seen at the port of Los Angeles, California, the United States on Oct 29, 2021. That is why the United States Trade Representative's Office has again delayed an announcement of its final determination on steep tariff increases on Chinese products including electric vehicles, batteries, semiconductors and solar cells. The Joe Biden administration in May announced …

China accuses Canada of protectionism over 100% tariffs on electric vehicles
3 months, 3 weeks ago

China accuses Canada of protectionism over 100% tariffs on electric vehicles

Associated Press  

BEIJING — China on Tuesday accused Canada of protectionism after Prime Minister Justin Trudeau’s government imposed a 100% tariff on imports of Chinese-made electric vehicles, matching U.S. duties on Chinese EVs. AP AUDIO: China accuses Canada of protectionism over 100% tariffs on electric vehicles AP correspondent Haya Panjwani reports China accuses Canada of protectionism over 100% tariffs on electric vehicles. …

Canada, following US lead, to impose 100% tariff on Chinese EVs
3 months, 4 weeks ago

Canada, following US lead, to impose 100% tariff on Chinese EVs

Hindustan Times  

* Canada, following US lead, to impose 100% tariff on Chinese EVs Canada to impose 100% tariffs on Chinese-made EVs * Canada also announces 25% tariff on Chinese steel * PM Trudeau says more punitive measures possible * Announcement follows similar move from United States By Promit Mukherjee OTTAWA, - Canada, following the lead of the United States, on Monday …

Canada imposes a 100% tariff on imports of Chinese-made electric vehicles, matching the US
3 months, 4 weeks ago

Canada imposes a 100% tariff on imports of Chinese-made electric vehicles, matching the US

Associated Press  

TORONTO — Canada announced Monday it is launching a 100% tariff on imports of Chinese-made electric vehicles, matching U.S. tariffs imposed over what Western governments say are China’s subsidies that give its industry an unfair advantage. U.S. President Joe Biden in May slapped major new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment. “Unless …

Canada follows US, imposes 100% tariff on EVs imported from China
3 months, 4 weeks ago

Canada follows US, imposes 100% tariff on EVs imported from China

Al Jazeera  

Ottawa to work with allies to ensure customers around the world are not unfairly penalised by nonmarket practices of countries such as China, PM Trudeau says. Canada, following the lead of the United States, says it will impose a 100 percent tariff on Chinese electric vehicle imports and also announces a 25 percent tariff on imported steel and aluminum from …

China firmly opposes move on EV tariffs
4 months ago

China firmly opposes move on EV tariffs

China Daily  

The European Union's plan to impose definitive countervailing duties on imports of electric vehicles from China is likely to weaken Chinese investors' confidence in Europe and hinder the growth of the global green industry, said market watchers and industry leaders on Wednesday. The EV tariffs decision was based on facts determined unilaterally by the EU, rather than mutually recognized facts, …

Expert calls for fairer, more just intl trade environment
4 months, 1 week ago

Expert calls for fairer, more just intl trade environment

China Daily  

China is proactively expanding imports, encouraging outward investment and broadening institutional opening-up to counter "unfounded" protectionist trading policies and promote win-win globalization, said a renowned economist and policy researcher. While China will continue improving its business environment, Jiang said it is inappropriate to excessively blame China's investment climate alone for the decline in foreign direct investment inflow, which is partially …

Expert calls for fairer, more just intl trade environment
4 months, 1 week ago

Expert calls for fairer, more just intl trade environment

China Daily  

China is proactively expanding imports, encouraging outward investment and broadening institutional opening-up to counter "unfounded" protectionist trading policies and promote win-win globalization, said a renowned economist and policy researcher. While China will continue improving its business environment, Jiang said it is inappropriate to excessively blame China's investment climate alone for the decline in foreign direct investment inflow, which is partially …

Expert calls for fairer, more just intl trade environment
4 months, 1 week ago

Expert calls for fairer, more just intl trade environment

China Daily  

China is proactively expanding imports, encouraging outward investment and broadening institutional opening-up to counter "unfounded" protectionist trading policies and promote win-win globalization, said a renowned economist and policy researcher. While China will continue improving its business environment, Jiang said it is inappropriate to excessively blame China's investment climate alone for the decline in foreign direct investment inflow, which is partially …

China approaches WTO over EU tariffs on electric vehicles
4 months, 2 weeks ago

China approaches WTO over EU tariffs on electric vehicles

China Daily  

Vehicles for export are parked at a port in Lianyungang, Jiangsu province, in October 2023. China took recourse to the dispute settlement mechanism of the World Trade Organization on Friday in response to the European Union's temporary anti-subsidy measures on Chinese-made batter electric vehicles, the Ministry of Commerce said. The EU's preliminary ruling lacks factual and legal basis, violates WTO …

Chinese businesses hoping to expand in the US and bring jobs face uncertainty and suspicion
4 months, 2 weeks ago

Chinese businesses hoping to expand in the US and bring jobs face uncertainty and suspicion

Associated Press  

WASHINGTON — It was billed as the “biggest ever economic development project” in north Michigan when Gov. “The main reason is U.S.-China rivalry, and the U.S. government prioritizes ‘national security’ over economic interests in dealing with China.” Lizhi Liu, an assistant professor of business at Georgetown University, said the trend, along with the decline of U.S. investments in China, could …

Report faults tariffs on EVs from China
5 months, 2 weeks ago

Report faults tariffs on EVs from China

China Daily  

Workers operate at a production line of the new energy vehicle AVATR at a workshop of Chang'an Auto in Jiangbei district, Southwest China's Chongqing Municipality, July 20, 2023. China is "the only large auto market that has reached the point of consumer-led takeoff for EV sales", according to Bloomberg's recent Electric Vehicle Outlook. But it said Europe, the US, India …

Europe is slapping tariffs on Chinese electric vehicles — for now. Here’s what to know
5 months, 2 weeks ago

Europe is slapping tariffs on Chinese electric vehicles — for now. Here’s what to know

Associated Press  

FRANKFURT, Germany — The European Union is imposing sharply higher customs duties on electric vehicles imported from China. After an eight-month investigation, the European Commission, the EU’s executive arm, found that companies making electric cars in China benefit from massive government help that means they can undercut rivals in the EU on prices, take a big market share and threaten …

Europe is slapping tariffs on Chinese electric vehicles — for now. Here's what to know
5 months, 2 weeks ago

Europe is slapping tariffs on Chinese electric vehicles — for now. Here's what to know

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. After an eight-month investigation, the European Commission, the EU’s …

Chinese firms eye Morocco as way to cash in on U.S. electric-vehicle subsidy
5 months, 2 weeks ago

Chinese firms eye Morocco as way to cash in on U.S. electric-vehicle subsidy

The Hindu  

After the United States passed new subsidies designed to boost domestic electric vehicle production and cut into Beijing’s supply-chain dominance, Chinese manufacturers began investing in an unlikely place: Morocco. At least eight Chinese battery makers announced new investments in the North African kingdom since President Joe Biden signed the Inflation Reduction Act, the $430 billion U.S. law designed to fight …

Canada should not ape US by imposing tariffs on EVs
5 months, 2 weeks ago

Canada should not ape US by imposing tariffs on EVs

China Daily  

People visit the 2024 Beijing International Automotive Exhibition in April. Adding to the strain, Canada, despite limited trade with China in automobiles, is mirroring the US' actions by readying itself to levy tariffs on EVs imported from China. In June, Doug Ford, premier of Canada's Ontario province, said he hoped the Justin Trudeau government would impose as much extra tariffs …

EU imposes tariffs of up to 38% on Chinese electric vehicles
5 months, 2 weeks ago

EU imposes tariffs of up to 38% on Chinese electric vehicles

Al Jazeera  

The European Union has imposed extra duties of up to 37.6 percent on imports of electric vehicles made in China, the bloc announced, despite Beijing’s warnings the move would unleash a trade war. The provisional duties of between 17.4 percent and 37.6 percent, without backdating, are designed to prevent what Commission President Ursula von der Leyen has said is a …

Canada should not ape US by imposing tariffs on EVs
5 months, 2 weeks ago

Canada should not ape US by imposing tariffs on EVs

China Daily  

People visit the 2024 Beijing International Automotive Exhibition in April. Adding to the strain, Canada, despite limited trade with China in automobiles, is mirroring the US' actions by readying itself to levy tariffs on EVs imported from China. In June, Doug Ford, premier of Canada's Ontario province, said he hoped the Justin Trudeau government would impose as much extra tariffs …

Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies
5 months, 3 weeks ago

Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies

Associated Press  

TANGIERS, Morocco — After the United States passed new subsidies designed to boost domestic electric vehicle production and cut into Beijing’s supply chain dominance, Chinese manufacturers began investing in an unlikely place: Morocco. “We have flexibility to be able to comply with all the changes in interpretation or rules.” The Chinese battery projects include at least three joint ventures and …

The Biden-Trump Fight Over EVs: A Breakdown
5 months, 3 weeks ago

The Biden-Trump Fight Over EVs: A Breakdown

Huff Post  

LOADING ERROR LOADING President Joe Biden sketched out his vision for the future of America’s auto industry during a visit to Detroit in late 2021. What Trump Is Saying About Biden’s EV Push Trump has made plain his opposition to Biden’s EV support, in speeches and in interviews ― and in the “Agenda 47” section of his campaign website, where …

Prospect of low-priced Chinese EVs reaching US from Mexico poses threat to automakers
5 months, 3 weeks ago

Prospect of low-priced Chinese EVs reaching US from Mexico poses threat to automakers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Low-priced Chinese EVs pose a potentially “extinction-level event’’ for …

US tariffs a sign of weakness, not strength
5 months, 3 weeks ago

US tariffs a sign of weakness, not strength

China Daily  

The US Capitol building is shrouded in haze in Washington, DC, the United States, on June 7, 2023. During his last campaign, Biden criticized the then US president Donald Trump's tariffs, arguing that they were ultimately paid by US consumers, not China. The Cold War mentality, which views China as the US' primary global strategic competitor, fuels US trade protectionism …

US tariffs a sign of weakness, not strength
5 months, 3 weeks ago

US tariffs a sign of weakness, not strength

China Daily  

The US Capitol building is shrouded in haze in Washington, DC, the United States, on June 7, 2023. During his last campaign, Biden criticized the then US president Donald Trump's tariffs, arguing that they were ultimately paid by US consumers, not China. The Cold War mentality, which views China as the US' primary global strategic competitor, fuels US trade protectionism …

EU, China head towards a ‘trade war’ over import tariff on electric vehicles
5 months, 4 weeks ago

EU, China head towards a ‘trade war’ over import tariff on electric vehicles

The Hindu  

The European Commission released this month its new tariff rates for battery-operated electric vehicles imported from China, which is being perceived as the start of a potential trade war between the European Union and China. The current EU tariffs on EVs have to be seen in that context,” said Mr. Campbell, noting that Brussels is naturally concerned about Chinese EV …

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