Dublin, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The "Impact of New US and EU Tariff Policies on China's Electric Vehicle Industry" report has been added to ResearchAndMarkets.com's offering.
On May 14, 2024, US President Joe Biden announced an increase or imposition of tariffs on Chinese-made goods valued at US$18 billion to protect American workers and businesses. These tariffs primarily target critical industries impacting the future economy and national security of the United States, with a notable tariff of up to 100% on electric vehicles (EVs).
Concurrently, the European Union's (EU's) anti-subsidy investigation into Chinese EVs, initiated last year, led to corresponding measures announced on June 12, 2024. By imposing punitive high tariffs on Chinese EVs, the US aims to pressure its allies, particularly those in the EU, to align their policies with US interests.
This report presents two major viewpoints on how China's excess EV production affects or will affect the global market, discusses China's short-, medium-, and long-term goals for EVs, explores measures by both the US and the EU to halt low-cost Chinese EV imports, and examines the impact of high US and EU tariffs on China's EV industry.
Key Topics Covered:
Different interpretations of China's Excess EV Production Capacity
- Viewpoint 1: Global Oversupply Due to China's Excess EV Production Capacity
- Viewpoint 2: Growing Global EV Market Under Net-Zero Commitments
China's Accelerated Capacity Expansion Aims to Capture Global Market Share
- Short-Term: China's EV Production Primarily for Domestic Consumption
- Medium to Long-Term: China's Continuous Production Expansion May Lead to Global Supply-Demand Imbalance
Measures by the US and EU to Halt Low-Cost Chinese EV Imports
US
- US Dramatically Increases EV Tariffs to 100%
- Tariff Increases Serve Both Trade and Political Purposes Amid US Presidential Election
EU
- Chinese EV Exports to Europe Not Considered Dumping but May Involve High Government Subsidies
- High Tariffs Still Allow Profit Margins for Chinese Cars in Europe
Impact of High US and EU Tariffs on China-Made Electric vehicles
US
- Minimal Imports of Chinese EVs to the US
- Short-Term: Difficulty Finding Third-Country Production Sites for US-Bound Products Leads Chinese Carmakers to Southeast Asian Markets
- Medium to Long-Term: Increased Tariffs on Lithium Batteries and Minerals Raise US-Made EV Costs
EU
- Concerns of European Automakers Facing Retaliation
- EU Tariffs Penalize Consumers' Purchase of China-made EVs
- Chinese Carmakers Expanding Production in Europe to Avoid Tariffs
- Shift of Chinese Export Markets from Europe to Southeast Asia
Company Coverage:
- Audi
- BMW
- BYD
- CATL
- Chery Automobile
- EVE Energy
- Ford
- Geely Automobile
- Leapmotor Technology
- Mercedes-Benz
- NIO
- Nissan
- Polestar
- SAIC Motor
- Sunwoda Electronic
- Tesla
- Volkswagen
- Volvo
- Wuling Hongguang
- XPeng Motors
- Yunnan Energy
For more information about this report visit https://www.researchandmarkets.com/r/tcslng
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