Thinking of buying an electric vehicle from China? Hmmmm…not so fast.
President Biden announced a range of tariffs on Chinese imports related to renewable energy. The tariffs on electric vehicles alone jumped from 25% to 100%. The goal is to compete with China and support American manufacturing and jobs in the renewable energy sector. For example, if electric vehicles flood the U.S. market, then it doesn’t give time for American manufacturers to develop this business. All good goals, but this move doesn’t come without some negative repercussions…
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