the race against time for exports before the increase in customs duties

Chinese companies anticipate an upcoming increase in customs duties, decided by the United States. Chinese electric cars in particular are being targeted.

For Chinese companies that export, time is running out. The new customs duties imposed by the Biden administration are expected to come into force on August 1. And that’s no small thing: for electric vehicles, for example, prices will be multiplied by four and reach 100%. Electric cars constitute the most spectacular part, but other products will be affected, such as semiconductors, batteries and even solar cells.

In total, the Americans’ turn of the screw will impact 18 billion dollars of Chinese imports. Enough to panic companies, which are currently pushing their exports to the maximum to benefit as much as possible from current tariffs, before the increase. Exports of Chinese electric vehicles, for example, jumped 21% between January and April in the United States, but also in Canada and the European Union, which are also considering increasing their customs duties for a certain number of Chinese products. , like electric cars.

Companies are scrambling to export as much as possible, so much so that the machine is seizing up: China has been facing a shortage of empty shipping containers since the beginning of May. According to the economic newspaper Caixin, some exporters are ready to pay a high price, more than 1,000 dollars to have a container. This is more than three times the price that was charged last year. Container manufacturers are struggling to cope with order books that are full until the end of September.

Some electric car manufacturers, such as BYD, can count on their own ships, specially designed for vehicle exports to the rest of the world. BYD has already commissioned a first boat capable of transporting more than 5,400 Chinese electric cars, to transport them to Europe.