Announcement of New Tariffs on Chinese EVs, Batteries, and Solar Set for May 14 by US Government

The Biden administration is preparing to announce new tariffs on China, focusing on electric vehicles, batteries, and solar cells. China is expected to respond by targeting US agricultural exports, similar to what happened during the Trump administration. The tariffs, set to be revealed on May 14, are not likely to immediately impact Chinese firms as many are already barred from the American market due to auto tariffs. In a previous meeting, Trump expressed his intention to reverse Biden’s climate change measures. Electric vehicle sales in the US saw a significant increase in the last quarter of 2023. BYD, China’s largest electric vehicle manufacturer, plans to launch its first pick-up truck in Mexico and aims to sell over 50,000 electric vehicles in the country this year.

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn