Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top
Monthly Journal: Traders' Insights Wanted!
Views 358K Contents 3937

New U.S. Tariffs on Chinese Import hurts Chinese EV Industry

$BYD COMPANY (01211.HK)$ $NIO Inc (NIO.US)$ $XPeng (XPEV.US)$ $Tesla (TSLA.US)$ The U.S. introduced a new series of tariff increases on Chinese imports, amounting to over $18 billion worth of goods. In the announcement, President Biden said they are aiming to “counter China’s unfair trade practices” by targeting specific sectors where the U.S. is boosting domestic production.
My Take:
Someone said the new tariff will not hurt the Chinese EV sales. This is incorrect as the US directed many of its new tariff increases on the entire Chinese EV industry, targeting imports such as semiconductors, lithium-ion batteries, and other battery parts - not just importing electric vehicles. The new tariffs are also targeting new tariffs on certain critical minerals, which are essential for manufacturing battery parts and semiconductors.
New U.S. Tariffs on Chinese Import hurts Chinese EV Industry
Source:
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
18
1
1
1
1
+0
12
Translate
Report
42K Views
Comment
Sign in to post a comment

View more comments...

I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
2980Followers
93Following
12KVisitors
Follow