US tariffs on Chinese EVs have more bark than bite

While US President Joe Biden has announced steep hikes in tariffs on a range of Chinese goods including electric vehicles (EVs), analysts say the actual impact on China is likely to be limited. Grabbing much attention this time round is the steep hike in US tariffs on EVs from China, which will jump from 25 per cent to 100 per cent. “This is mostly symbolic,” said NTU economist Tan Kong Yam, who noted that Chinese EVs have already been “locked out of the US market”. Only 1 per cent of EVs sold in the US are from China, he said.

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