How Americans may be affected by tariffs on China
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- Опубликовано: 13 май 2024
- President Biden is set to impose increased tariffs on $18 billion worth of annual Chinese imports. The tariffs will apply to Chinese electric vehicles, semiconductors, solar cells, and more. How will these changes affect prices for consumers?
Yahoo Finance Senior Columnist Rick Newman and Autos Reporter Pras Subramanian join Wealth! to discuss the new protective policy.
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This is a lost battle. The retaliation will hurt American companies including the American automaker that sells a lot in China.
Correct,,,, ✅
They have been working on this for the past ten years while America was still building gas an diesel engines. To late for USA , China has the patents and are 100% in control. Our administration should work with them and allow Americans to work at there factories like Tesla did in china
Instead of 10k for a reliable EV, you pay $45k
they said 'cheap EVs' but can't even built an affordable for all the people.
And the American company (Ford), still loses $100k per EV sold.
I don't understand this. Where is American consumers' voice? Who is speaking out for the consumers? If Chinese government subsidized the EVs to make it cheaper than it should be, that is like giving money to consumers. I will buy 2 if I can. Why the hell is Biden make it 100% more expensive for American consumers?
The Chinese government does NOT subsidize Chinese EVs in general. The CCP "incentivize" innovation the same way the US "supports" their own companies. The US is simply manipulating words to demonize the PRC to justify the tariffs. If you can't beat them, ban them.
China focus "for the people". Lowering the cost of products to benefit people around the world is not a top U.S. priority. The U.S. prioritizes protecting company profits. That is why more homeless, drug addicts and "flash mob" thefts are everywhere in U.S.
hahaha, you got it right! The US always blamed the Chinese for copying this, subsidizing that. But think of it, if they were actually done this way, it is suiciding their own business and benefit all the consumers! And they have been doing such for 2 decades? All those are lies! The US simply lost its own game, so it went full-on stupid emo crying mentality.
I think Biden and its cultists are just losing their wars and minds.
Ah, seems the Europeans are waking up too, news said they dared to refuse the US's order.
That's the whole point. $$$$$
Let’s open borders for all and try and protect dinosaurs America auto industry. . Too late bud. You should probably work with them not against them. They aren’t cheap they are really good . Do some research.
“They pay the tariffs to ship it here” who are they? The Chinese company is not paying that money. It’s the American consumers that end up paying the tariffs. All that you do is to artificially force the Chinese companies to set up shops in Mexico, and American consumers are paying that additional cost of made in Mexico”
American consumers only pay for the tariffs if they choose to pay higher prices for Chinese goods with tariffs added on. That's the point. Don't buy higher priced Chinese goods, buy the American goods that don't have tariffs added on.
@@karlbmiles Even if what you said works, the Americans stopps buying the cheaper Chinese products and only buy the American goods, the American consumers are still paying higher price tag. The worst is, products such as battery cells are not directly bought by consumers, but by EV manufacturers, the whole EV industry in the US ends up having a higher cost structure being forced to buy only American battery cells, resulting its being less competitive in the foreign markets. So, you are having everyone paying a higher cost for EV in the US while killing the export market for American EV industry. Why is this a good thing at all? Protectionism has not worked out for any country, not even once.
To protect the US car industry, consumers are not able to buy affordable and better quality cars. Car manufacturer has less incentive to innovate and lose competitiveness.
What do u mean "may". America is paid for the tariffs. But would it effect China? Yes, since America is big economy but remember China is the largest trade partners for over 130 countries and counting. Their stuff is everywhere, not just America
Argentina was buying argentinian only, they had high tarrifs on everything, as an example. Now their inflation is 100 percent a year.
The inflation came first, the tariffs are the solution, and they are working.
Prepared to pay more on SOLAR Panels? HAHAHAHAHAHAHAHAHAH
this is a blatant dissregard for the WTO rules
I think about it all the time. At least other (non brainwashed people) like you see it too. If my country, Brazil, would increase taxes on US computers by 100%, the US would burry us with concrete inside the WTO. 😮
WTO rules? Who cares? This is a global economic cold war.
Tarifs on China means Taxes for Americans.
Instead of working together to save the world, we will see more and more extreme weather with the worsening of climate change.
Not to worry most countries will be driving quality and affordable Chinese Ev's ..Ameicans just get to pay a lot more.
With incentives, you can get a Chevy Bolt for 19K. American made, plenty of service stations when you need a repair or parts, and a familiar brand.
the old dog can not come up with new trick
keep everything expensive, but how normal people can afford? keep printing money?
So much for following the rules based order !!! When US is disadvantaged in the competition, then no rules apply right !
OMG, I think the same. It's a blatant disregard for WTO rules. What a hypocrites. 😮
Weak leader in US , no backbone to do the right thing!!!
How can you build here if he's already sold out everywhere else
Wow tariffs is like you dont have to produce the EV car and still make 100% profit 😂😂
US is soooo scared of mighty China! 😂😂
Protection from affordable products.
How are American manufacturers going to compete globally when they cannot obtain cheap China chips/components to manufacture their products?
😂 the the last guy just act like China will be paying the tariffs 😂. Its US consumers who will be paying the tariffs. 😂😂😂
You don’t understand. When China raises the product price due to tariffs, the american products or cars become more attractive for cosumers to buy therefore protecting the american cars or products.
@@JoeladgraThat's precisely Argentina's approach to foreign trade during the last century and look what they´ve achieved. 😂
Only the fools that want to pay for a tariff on top of the value of the EV car. Most Americans are smarter than that, they'll buy an American EV that doesn't have that tax added on. That's the point of tariffs, raise the price of the competition as puishment for unfair policies.
@@nerenahd You are actually comparing Argentina with the United States? 🙄
@@Joeladgra Not exactly, just showing that countries that bet on high import fees as way to "protect" the national industry tend to create less efficient and competitive enterprises and hurt their economies in the long run.
This is another dumb Biden policy. The impact on the Chinese EV makers is probably relatively low as they are not currently selling EVs in US. But China would probably retaliate and tariff the US imported cars and agricultural goods. Losing the Chinese market would seriously hurt these two industries.
China barely imports American brands
The thing is most American cars that sell into China are in partnership with the Chinese state. So the Chinese state loses with decreases in American car sales to the Chinese market.
@@OmarOsman98 As you correctly pointed out, American car companies other than TESLA are in partnership with Chinese companies and their share of the Chinese market is relatively small as well as shrinking. That said, China is still the largest car market outside of US. In 2023, GM sold 2.1 million cars in China versus 2.6 in US. If China sanctions the US auto industry, it would seriously hurt GM’s revenue. In recent years, Chinese buyers increasingly favour domestic brands as they offer better value and American brands may actually die without being sanctioned.
So much chinas in an election year!
Tesla, GM and Ford don’t make affordable 25k or less ev because there is just no competition. They would rather pour money in shares buy back than making better cars for the consumers.
It is all politics. Nothing will be good for regular folks like us.
When the US buyer imports goods subject to tariffs from China, they pay the tariff to the US government. This cost and any markup are typically passed on to the end consumer, meaning consumers ultimately bear the burden of tariffs through higher prices. The Chinese seller, however, does not directly pay the tariff; the importer in the US bears that responsibility.
China does not suffer the consequences of tariffs. The US consumers are being punished by having to pay higher prices.
In 2012, President Obama, as part of his plan to double the U.S. share of the world's solar panels from 5% to 10%, imposed tariffs of up to 249% on solar imports from China. In response, China retaliated by imposing import restrictions on polysilicon from the U.S. At the time, the U.S. held a 50% share of the global polysilicon market, but this has since dropped to under 5%. China has promised to retaliate just as strongly in response to any new tariffs.
China has other nations manufacturing ev and ev batteries
Even with the tariffs it’s cheaper to buy the Chinese EV.
CN should just sell at a higher price in the West or levy its on export tariffs on export of EVs rather than give them the chance to raise taxes on their middle income group CN's largest customers. US imposes tariffs to protect its oligarchs who fund them. With cheaper EVs old gas guzzlers would be retired saving US middle income $$$ and greener for the environment. Many cannot afford Tesla or even KR's ie., KiA as too highly priced now.
That's simple VOTES
Not mentioned is the stipulated ten lashes across your back if you buy a Chinese EV.
Tariffs help the manufacturing sector + national Right to Work legislation. Unions are no longer useful.
let's go brandon!
Investors are the only winners
re-election is much more important
Dumb. The cost just get passed to to the consumers.
Zero. We don't import Chinese EVs. All hypothetical.
🎼🎵🎶🎵😂😂😂Who cares
Two bad Donald Trump said something about this couple months ago
Trump: Tariff everything China!
Biden: Just target these 3-4 products that China overproduces with dirty energy and cheap, non-union labor.