Why Americans Can’t Buy Cheap Chinese Electric Vehicles
Chinese automakers are winning over millions of consumers around the world with affordable electric vehicles. They are conspicuously absent from one big market: the U.S. Washington has effectively built a fortress to keep out Chinese EVs. Former President Donald Trump imposed a 25% tax on Chinese auto imports. President Biden backed that policy and went further, denying them “Buy America” credits that can reduce consumers’ price tag by thousands of dollars. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8