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.
The tariffs have been expected for months, but many European automakers warned they will drive up prices for consumers and set off a trade war with China.
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 president wants to shift America’s car fleet toward electric vehicles, but not at the expense of American jobs or national security.
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.
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.
Automakers in the United States and their supporters welcomed President Biden’s tariffs, saying they would protect domestic manufacturing and jobs from cheap Chinese vehicles.