The European Union took the next step toward collecting heavy tariffs on electric vehicles, ahead of a final decision in October.
As the European Union moves to impose tariffs on Chinese cars, Germany, with an auto industry deeply enmeshed with China, is stuck in the middle.
Acting quickly after the European Union imposed extra tariffs of up to 38 percent on China’s electric cars, Beijing opened a trade case on Europe’s pork.
Leaders in Brussels are trying to curb China’s dominance in the industry, but European automakers fear the taxes will drive up prices and lead to a trade war.
The United States and Europe are trying to catch up to a rival skilled in using all the levers of government and banking to dominate global manufacturing.
The Biden administration seems to be in denial about China’s staggering advantage.
Treasury Secretary Janet L. Yellen warned that China’s industrial strategy posed a global threat that requires a united response.
The president’s move to protect strategic manufacturing sectors from low-cost competition aims to increase jobs, but consumers might not like the costs.
The president’s move to protect strategic manufacturing sectors from low-cost competition aims to increase jobs, but consumers might not like the costs.
Electric vehicles shouldn’t be a luxury item, but Biden’s tariffs mean they may remain so.