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50% Of New Car Sales In China Are Electric — But In The US, It's Only 10%: Are Protectionist Policies Widening The Gap?

Benzinga LogoBenzinga15h ago

50% Of New Car Sales In China Are Electric — But In The US, It's Only 10%: Are Protectionist Policies Widening The Gap? - Benzinga

Quick Summary:

Last week, the Biden administration locked in a package of steep tariffs on Chinese goods, including a 100% tax on electric vehicles made in China. 

The new tariffs also cover Chinese solar panels, EV batteries, steel, aluminum and other key minerals as part of a larger effort to relocate manufacturing, boost U.S.jobs and incentivize sales for American carmakers.

As Chinese automakers like BYD Company (OTC:BYDDY) and Nio Inc.(NYSE:NIO) expand their market share across Europe, Asia, and the Middle East, protectionist policies are increasingly viewed as a response to rising competition, both by government officials and automotive executives.But what if they aren't?

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Article Details

Author / Journalist: Natan Ponieman

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-16 @ 20:06:30 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 738 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22544195

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 32 posts per day

Year Established: 2010

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News Last Updated: 12 hours ago

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Publisher ID: #53

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