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The Automotive Cold War Is Officially Underway | The White House plans to slap 100% tariffs on Chinese-made electric vehicles, according to The Wall Street Journal.
Chinese electric cars are getting slapped with a new 100% tariff, according to The Wall Street Journal.
Then, around 250 miles south in Washington, D.C., news emerged that the Biden Administration is set to quadruple tariffs on Chinese-made electric cars if they hit American roads. China's homegrown electrified vehicles range from the inexpensive—some, like the BYD Seagull, cost less than $10,000 in their home market—to higher-end, luxury-focused offerings like the Yangwang U8, a kind of plug-in hybrid competitor to the Mercedes G-Class that can "float" on water. And scores of Inflation Reduction Act incentives are boosting local battery and EV plants in the U.S. and North America, although it will be years before all are running at full steam.
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