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United States: Joe Biden increases customs duties on Chinese electric vehicles
United States: Joe Biden increases customs duties on Chinese electric vehicles
(Franceinfo)
To allow Americans to remain competitive with Chinese competition, Joe Biden signed an agreement to quadruple customs duties on Chinese electric vehicles. A decision which revives the economic standoff between the two countries.
It’s a very carefully crafted production. Joe Biden, surrounded by metallurgical unions, signs the increase in customs duties on Chinese electric vehicles, with a message addressed to Beijing. “We will not let China flood our market. We want our companies to be able to compete fairly”, he declares. With this decision, the American president is relaunching the commercial standoff with Beijing. Electric vehicles produced in the United States cost twice as much as in China. Chinese vehicles will therefore see their customs duties multiplied by four, which should double their price and allow the Americans to remain competitive.
China immediately denounced this decision and specialists expect retaliation. By positioning himself as the protector of made in America, Joe Biden comes to hunt on Donald Trump’s land, which the latter did not fail to point out. The former president had already increased tariffs on Chinese imports during his mandate. Protecting American industry and being inflexible towards the Chinese economic rival, a necessary step for the two candidates at the heart of the American presidential campaign.
