'Naked protectionism' from the US?
Concerns that Chinese EV imports could flood international markets at the expense of established manufacturers reached fever pitch in 2024.
In the US, the Alliance for American Manufacturing warned they could prove to be an "extinction-level event" for the US industry, while the European Commission president Ursula von der Leyen suggested that "huge state subsidies" for Chinese firms were distorting the European market.
The Biden administration took dramatic action, raising import tariffs on Chinese-made EVs from 25% to 100%, effectively making it pointless to sell them in the US.
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