Biden imposing 100% tariff on Chinese electric vehicles
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- čas přidán 9. 06. 2024
- President Biden on Tuesday announced a new set of tariffs, including a 100% mark on electric vehicles. The administration says the tariffs will help protect American jobs and consumers. Nancy Cordes reports.
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100% tariff on a $10k chinese EV still cheaper than a Tesla.
That’s the problem, the tech was stolen after china asked musk to enter the Chinese market.
Chinese EVs would have to meet US safety
@@mike_w-tw6jd
If they achieved 5 star safety ratings from Euro NCAP, there shouldn't be a problem meeting US standards.
@@kamsunleong6648 Good point, but he mention $10k cars.
nobody will buy chinese EV, too dangerous
Where is the free market economy?😂😂😂😂
in the america dream
If Communist North Korea made a super cheap EV, would you buy it?
No question. Why not???@@rongendron8705Free market, Free competition, Freedom of choice! That is Capitalism! Right???
@@rongendron8705 Yes
@@rongendron8705 y not
Typical.., Can't compete.
Why do you think they ban everything Chinese from TikTok to Huawei.
@@tiberianexcalibur DOESN'T AMERICA LOVE FREE TRADE? I GUESS WHEN AMERICA IS THE BIG COMPETITOR IT'S GREAT
THEN COMES ANOTHER BIG COMPETITOR CHINA WE DON'T LIKE FREE TRADE ANYMORE
@@21boxhead US did a trade war against Japan in 80s, tariffs and bans until the Japanese have no choice but to beg and kneel down to the US demands because Japan has no military might. I can’t blame them.
Capitalism hates competition, they do everything they can to avoid it.
@@tiberianexcalibur childish globalists behaviour contradicting their global open world and free trade
Why just be honest by saying we cannot compete!!
If the US paid the same salaries as the Chinese Car companies do, we could probably compete,
but we want our workers to be able to live decently!
People just can't comprehend that tariffs are paid by US citizen and not by Chinese companies!
If you know the purpose behind tariffs then no one should be surprised that the consumer pays for it. The purpose of a tariff is to protect domestic products from cheap foreign products by raising the price of the foreign product through a tax on the import in order for the domestic product to more easily compete with the higher price of the foreign product. A customer is more likely to pick differing options when multiple choices are close(or closer) in price than if just one option out of the pack of different options is substantially cheaper than the rest.
Sure it is. They just charge more to the consumer. Or eat the cost. It’s not what you say automatically paid by the consumer. There are choices to be made, but not what you say.
Correct. The inflated cost is transferred to the consumer at point of sale by the seller. The inflation is imposed by the US government, hurting US consumers.
而真实的情况是中国并没有车销售到美国，美国不许中国车出口到美国，而一边又加关税，目的是摸黑中国
@@Joseiaddict然后你开心了？
100% tariff on cars that aren't even sold in the US.
Yup. They are really spooked.
USA will force EU to do the same.
They are coming to the united states
But they're going to build the cars in Mexico... there's no tariff there.
it's not just cars. It's steel, alumuminum, semiconductors, medical supplies etc.
This is for the.. uh.. good of the people!
Tesla, Ford, GM: your check is in the mail.
Good thing GM makes the Mach-e in Mexico.
@@mike_w-tw6jd The Mach E is made by Ford
@@OneManOnFire haha thanks
In April, 66 units of the $33,000 Ford Mach E were sold in China. Yes, 66 @@OneManOnFire
China, China, China 😂 Can Americans show some backbone and actually compete instead of using Tonya Harding style policies in attempt to hobble China’s growth 😅
fact: they cannot
It's extremely cheap to attend university in China and they produce 10 times the number of STEM graduates as the US. So, no, the US cannot compete.
fact, usa is so obsessed with china like an affair
@@308_Negra_Arroyo_Lanewell they have almost 10x the people.
Nope...can't compete with super low wages and employees with no rights. That's the reason why US companies outsource. They charge big money for stuff but it costs them nothing to make.
Why? Because it's 11k and big auto doesn't like it.
Cheap EVs from China aren't the reason why Ford is losing 100k on every EV they build.
Keep slamming tariffs on Chinese made goods won’t push inflation down
JOEY DON'T CARE
Ah yes, the american car salesman is glad about this tariff. Totally unbiased.
Biased so what?
But how can we make ridiculous commissions now and help out our bros in finance give the plebs 80 month loans at 10%. Me no likey.
People don't even understand this is the end of the American car industry. And this is going to come back to bite us someone should do some research on GM in China.
They sell a lot of cars more than they sell here in America to the Chinese market.
In fact Chinese people absolutely love buicks for some strange reason NB don't sell here in America at all anymore.
I'm pretty sure they're going to retaliate in kind
@@coreyguy5216 yep, they’re just choosing a 🐢 ☠️ now lol. Own fault for barely innovating.
No Chinese EV are sold in the US!! The 100% or 1000% tariff makes no difference lol
exactly
It's to keep them outta the U.S....🤦🏾♂️
Polestar EVs are made in China. I’ve seen many of them around the PNW.
it's not just cars. It's steel, alumuminum, semiconductors, medical supplies etc.
It's literally to prevent them from coming.
We cannot buy cheap cars then. If we can buy Chinese cars the cost would be only $10k.😢 National security and EV are not related things. Government is making us fool.
It is protecting the SCAM (1%) at our expense! instead of competing!!!
The average pay of Chinese autoworkers is $3.70/hr. Do you expert US auto manufactures to be able to compete with that disadvantage?
Sometimes I feel as though the government works *against* our best interests, we can’t have nice and affordable things.
When in history did our government work for us???
Well buddy change "sometimes" to "all the time". The government serves The owners of capital, not the slaves AKA the working class.
Sanctions are definitely not the type of tools that a confident and competent country would adopt...
As if this administration isn’t subsidizing American companies for solar panels, agriculture, semiconductors , and Tesla
This will come back to bite the American consumers
Mexico is the loop hole
That's fine because at least Mexico can benefit but the US is stressing clean energy produced American made.
@@Joelmonterrey USMCA Made Now. USA Made is too expensive.
Yep... you are correct.
not anymore for now...Washington just forced Mexico to not allow BYD to make factories in Mexico
@@CC-lq8st That's crazy; how are we supposed to have cheap cars here in America?
God forbid Americans have access to affordable electric cars. China should put 100% tariffs on all their exports to the US
Tarrifs are for imports. On exports it's just raising prices.
BYD has almost total vertical supply chain integration from battery to boot. That is why these cars are so cheap. There is no country in the world that is more efficient, fast and technologically advanced at manufacturing than China. There is a complete industrial ecosystem that services every level of production that can’t be found anywhere else. This makes development of products to scale up and hit the market at lightning speed. It’s not a question of if, it’s a question of when.
Chinese Autoworkers make 3.26/hr avg) nearly 9 times less per hour than US autoworkers.
Just saw a report about build quality of Chinese made cars. Some Chinese buyers have died do it. Rear ends breaking off, inability to open doors in an accident.
@@garywozniak7742How many workers in China have to live in their cars? The US has alot of car dwellers
@strayedarticle2838 their system allows someone to live on $3.36/hr, ours does not. Your point is not relevant. Our workers can not live on that pay, and we can't cede manufacturing to China.
An affordable EV in America why not ? When they say climate change is important obviously not that important now !
Lol it just shows that your domestic manufacturers a falling way behind and you're scared of competition. So much for letting the market play out fairly 😂
Tesla has the most car accidents in the car industries and Boeing has the most missing whistleblowers in the human hiatory😅
american-made is the new 'china-made' quality lol
"missing"??? Stop with your word play, they got murdered.
@@duancoviero9759 Boeing said missing not murdered LOL
We lost the competition. It is time to impose 100% tariff on Chinese cars.
0:49 the clips here are from 10 years ago, at which time BYD was still using its old logo. CBS doesn’t even dare to show BYD’s latest cars cause those cars are way too advanced!!!
"Cheap things aren't good and good things aren't cheap." I say stupid people shouldn't talk.
Before most definitely. But now not so. Plenty of examples where expensive does not mean top quality. 2:16 Like consumer drones.
If talentless people demanded to be paid more than what they are worth, the crappy things they make are gonna cost more. Does that make expensive crappy things better? Because that is what American made products are nowadays.
We the people can’t sit around and let them do whatever they want forever! F Biden and Trump for tariffing Chinese products they are affordable and benefits the people. They only care about cooperations
Don’t get mad, those stupid politicians are rich and they don’t care.
Right, these politicians is making Americans stupid, is becoming a joke of whole world, is damaging Americans reputation.
The US auto industry employs about 1.7 million people. The average pay for autoworkers in China is $3.27/hr. Do you think that American workers can live on $3.27/hr ?
@@garywozniak7742 if America stop being fancy then yes.
@@ChiRusNkFUSA
The "living wage in the U.S."..
"The living wage in the United States is $25.02 per hour, or $104,077.70 per year in 2022, before taxes for a family of four (two working adults, two children), compared to $24.16, or $100,498.60 in 2021."
US: Play Stupid game!
US: Win Stupid prize!
no for real
if a chinese car literally comes to the US market before the end of the year I will 1000% buy it
I could save so much money on monthly payments since gas is still a wallet ripper
When you can't beat them, smear them...that is the US way...but really sucks for US consumers...standard of living is going to drop significantly in the next few decades when US goods and services are severally overpriced.... good luck to ya'll
If you put 100% tariffs on 11,000 $ car , what is the point you can achieve!!🤪😬
You buy the car, you have to paid 11000 tax 😪. This tax money can make Isreal and Ukraine happy 😀 .
That strong, confident, open-minded America no longer exists.
Considering that a new Ford truck now costs $100k, rather than $25k, this won't help the economy. And what about Japenese and German cars? Protecting US automakers might get Biden the votes he needs, but he's just killing the economy.
Auto's from the big 3 US makers are not the same quality as Japanese and German cars. So I just buy German cars that are a few years old so someone else took the initial depreciation.
Big TWO auto makers, or are you including Stellantis.
German cars are fun to drive but not reliable and difficult to repair.
I live in Europe and when buying a phone I chose Motorola. What a surprise for me when I received my phone call. The box said made in china. I looked for information and it turns out that the factory from the USA moved to Commune. Shame on you, President.
where do we get our pharmaceuticals?
India
American corporations are still stuck and waiting for the government to bail them out and lobbying for free money. If government is spending money on corporations and banks then government must have a say in how it should be, like standard and regulations
Taking a hard line on China is another phrase for self-induced inflation. It would be nice if the government actually did something to bring the cost of living down for everyday people.
Does this apply to Volvo?
Nope
More interestingly, does this apply to China made Teslas?
@@indeficit2 No china Teslas in US, mostly just Europe.
Let’s tax all the renewable and clean energy but careful not to tax oil 🙄
Mannnnn it going cost a more for everytbing now.
Still it is cheap😅
But, what are you getting & will it last 10,15, or 20 years?
@@rongendron8705tesla has the most accidents, as well as Boeing.jahahha... china is so advanced...just cry
It's not about going green, it's about giving your donors an unfair advantage at the expense of the people.
American car manufacturers shares skyrocket😂😂😂😂😂.
And Nancy cashes in....
Tarriff is a temporary measure. US auto need to have a long term strategy to become competitive in EV globally.
Does US lose its faith in free trade? Maybe it has lost that long before.
Chinese EV car cost 10K in retail. This would make all other auto makers go bankrupt.
You can put a 300% tariff on them all and China is still going to kick sh!t out over every player in the EV market.
From what I understand:
If Country X imposes a tariff on Country Y,
Country Y will counter and impose a tariff on Country X
soon they will make them in mexico. problem solved
The US market is insignificant for Chinese EVS manufacturers
And here I thought tariffs were bad or racist or some such nonsense.
Still cheaper than EVs here
Protectionist will backfire 100%
It sounds like Tesla and other American auto makers would do very well to build a low price electric car in the US since they would no longer need to compete with China.
Also, it this could also increase consumer sentiment towards buying electric vehicles in the US since buying an electric car would mean either buying American or firm American ally.
Who wants an American car? I will NEVER, EVER buy an American car again after owning a Mazda.
Biden: Fellow Americans are not permitted to buy lower priced goods. We are rich and can afford to pay for the extra markup (tariff).
If can't compete then sanction 😂😂
Are Americans that patriotic to pay two to four times more for a product ? Well if they are, good for them - keep spending your hard earned money on expensive products.
No we aren’t. We live in a nightmare
What about all products made in China and ban Temu, etc? Or is it becaue not much Anti Israel stuff on Temu?
Don’t worry, that’s next on the agenda.
@@samanthajones4877 😂 America literally rebuild China and we had decades.. Tiktok only banned due to Anti Israel content. China is safe.
Remember Obama has 300% tariff on solar panels, but the solar companies in US went bankrupt anyway. Tariffs can only do so much as temporary measures, the companies have to be able to compete. From when our greatest US companies can not compete any more?
us only hurting itz citizens
Yeah, they don't care
Protectionism in disguise.
A 100% tariff on Chinese EV is the very green light the Chinese consumers need to repeat what they have done to the Swedish company HM.
It is simple if the China cannot sell its EVs in the US what the hell is for the Chinese people buying Tesla made in China? China government doesn't have to do anything. The Chinese people will follow this up eventually.
Not good for Tesla in China
Tesla China does not export to US.
😂😂😂 Protectionism is not good for anyone. And definitely not for consumers. Just give people better quality and affordable cars or stop hurting people
Great idea .. tariffs on solar panels. 🙄
Remember in the 80s and 90s. Huyndai was cheap, but look at huyndai today. Huyndai makes better cars then Chevy. American auto makers are dying because we make sheety cars lol
The reason the Chinese can build inexpensive, quality EVs is because they started the work quite early on, from the early 2000s when the US companies werent even thinking about EVs seriously. The Chinese now owns the lions share of battery raw material mining and processing across the globe. Together with this and immense support from the Chinese government in r&d, they cracked the code. Its a shame that US and other free market economics cant do any thing about it but cry foul.
What happened to the invisible hand of the market? They weren't doing this when they were filling big box stores with trinkets, but the second they offer things we could use to reduce our energy needs, it gets tariffs? This is the horse and buggy all over again.
Yes force American to buy overpriced cars from American manufacturers. People can’t afford 50 60k cars.
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Chinese vehicles or parts? There are no Chinese brand cars in American anyway.
Volvo is chinese.
@@mike_w-tw6jd Volvo is Swedish
@@HondaRulzz4 Chinese already bought Volvo many years ago I think.
@@HondaRulzz4
Used to be under Ford ownership who made a mess of it. It nearly went into obscurity until Chinese company Geely bought over in 2010. The new owner resurrected the brand through capital injection and gave a free hand to the Swedes to continue to build as they have been doing in the past.
Get this straight, Chinese EV's are far superior in quality on every level than what GM and ford can produce in America, remember China builds 24 million cars per year and their build quality is comparable to any German vehicle, the US only produces 13 million cars😮
ELECTION GIMMICK
It not a cheap EV car dude. It an inexpensive good quality EV car. That the reason US can't compete.
😂😂 like Chevrolet cars are so much better...
Lol Anti competitive is codeword for "we can't compete with them fairly".
America can enact protectionist policies without trying to pretend china is more evil than the US
I wouldn't buy an EV with a crushing range of 50-70 miles, if brand new ones cost $10. Taxes included !
Free market
So imagine if we put same 100 tariff on USA and western products in Asia. What would happen. This is so unfair.
The US will push the rest of our allies like Canada, Japan, and all of Europe to follow suit. The reality is the west is decoupling from China, they just aren’t telling us publicly. China will no longer be able to earn more dollars and also can’t use them either. What will happen when the second largest economy and also the world’s factory will no longer accept US dollar for trade?
Why would you want to buy a Chinese EV with bad support?
Sure
Do I see Lucid stock price skyrocketing?
I thought EV were about slowing climate change
chevy is cheaper in China as well
Is year 2024,who you can fool? Lol
China can take tarrifs on the use of USD and gives discount on the use of other world currencies.
And china will put tariffs to American products and the consumer will feel the pinch
Don't say the US can't compete. Think positive and be happy. Actually this tariff is part of the competitive ability. More money for the government. Reduce import. One stone two birds. Then, more money to buy weapons for Israel and Ukraine.
WHAT EV MANUFACTURER IS UNIONIZED?
BECAUSE TESLA ISN'T UNIONIZED
Talks of globalisation and free trade only when its convenient. What a hipokritos.
Glad to hear it
No one should fear competition and put up protectionist tools to block it. To outperform the rest of the world in efficiency and innovation is what makes America a superpower. Not ducking behind trade barriers for safety.
of course you are. you know deep down US companies can't compete with superior chinese companies
all this is doing is keeping inflation high, guess they arent serious about keeping prices down
I don’t think it’s not China’s fault that the Michigan Car Industry has fallen. The thing is Chinese style of profit is not as big as the Americans. They get a small profit margin but they sell products by a million. If you compare it to big profit margins but only sells by the tens of thousand or hundreds of thousands. The Chinese earns more. I think that’s how it works in the American Car Industries. Also making the car less reliable. That’s why Asian Cars are starting to grow bigger and bigger while American brands gets smaller and smaller. Even Tesla has issues with build quality in there vehicles. And it’s been like that ever since the beginning. And I thought that would change in the long run. But it hasn’t. And one of the biggest example now is Boeing.
Good
Im good with this
Right, nothing to do with election 😂😂😂
Instead imposing a tariff, Brandon needs to tell the Big 3 to make more affordable vehicles for Americans. If GM sold a $12k EV here in the US, it would sell like hotcakes.
As a former GM car salesman we could sell you a new Chevy Spark 1LS out the door for $13k with tax. No one wanted it.
That’s so democratic 😂