China is furious at Europe and America - fires back with massive tariffs
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- čas přidán 22. 05. 2024
- China is furious at Europe and America - fires back with massive tariffs
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It's ironic that you keep hearing that there is no demand for EV's and yet in the US the government feels there is a need to place a 100% tariff on vehicles that supposedly nobody wants.🤔
And you'd think if their genuine goal was climate change, it would be a no brainer to allow cheap Chinese EVs in asap since your local Automakers are just unable to crack the battery code. Nope, we find out the climate change is just political soundbites and their pandering to national nutheads is much more important even though they're not their voting base.
Easy.. it's election year in U.S. everything is about jobs jobs and jobs. More and more debt to create fake jobs . Everything needs to hold to november 5.. even if the collapse will be on the 6th. And it will be ... american population are ignorant of the world outside theirs borders.
Well you know who is the union front man ? .. highest level one person in US
This is the difference between having a brilliant businessman run things or some Deep State or unknown entity with a senile figurehead.
For re-election to counter big mouthed trump.
For years, both EU and US auto manufacturers made substantial profits in China. Over many years, China had the foresight and invested wisely to develop its EV industry and reduce its carbon foot print. Because the Western gov'ts cannot tolerate or politically handle such a challenge, they impose tariffs in an effort to stamp out China's economic progress. Doesn't sound like capitalism at all. I am on China's side.
And just to give a situation where trade goes unchecked, OPEC+ floods the market with oil by overproducing, drives shale producers out, then raises prices and you pay more for everything.
" reduce its carbon foot print." You are talking about the worlds largest coal burning gross polluter!
Not trying to stamp out China's progress. They want to keep from losing their own. We'll see if that works.
China started out by stealing the design of any manufacturer’s products,and by building the exact same model vehicle in a Chinese factory. China’s counterfeit industry is still making duplicates of every manufacturer’s products. China is in trouble economically, and the Chinese want to export their products and thereby save their economy. China has been siding with Putin, and the world has to stop Russian aggression towards Ukraine, and bring Chinese leadership back to a more realistic good neighborly position.
Looks like your a "Ho" for chinese propaganda. EU will follow US lead on keeping or bringing back key industries, withdrawing from the ultra-globalist stance of the late 90s, the noughties and 2010s. It's a simple to understand policy == keep jobs inside your own market to keep your voters happy. And if that requires tariffs to equalize the playing field. So be it. If the Chinese can't see that, they're acting or being stupid. BIZ will always bitch and moan about losing profitability, but then they'll wake up and come up with new stuff to replace the lost profit - - or they'll wither and die. All part of the normal biz cycles.
“We can hit you, but you can’t hit us.” Good luck with that.
Murica is lower than a dog
You put tariffs on me, I put tariffs on you. It seen fair play to me, what is the complaint. 😂😂😂😂
Tit for tac.
Perfect! Now Biden can put 100% tariffs on ALL Chinese products. Chinese consumers are bankrupt anyway from the great real-estate crash. They can no longer afford better quality US products.
Because the west wants China to do as they say, not as they do.
american tariff is to protect jobs
chinese tariff is to protect environment.
time changes, east protects environment.
The US behaved in a similar way, when the Japanese started threatening their car industry. The difference with China is that they have a lot more muscle than Japan.
and signing the plaza accords which effectively crippled japan
You might recall that Japan exported cars to the US but didn’t allow the US to export cars to Japan. I’m not sure what kind of muscle you think. China has. They’ve already proved themselves an unequal, trading partner. Even worse during the pandemic, they showed that they weren’t a reliable trading partner. Which is why a lot of companies are spreading their supply chain to other countries.
@@neilkurzman4907 China is still the go to manufacturing country. No one can compete with their quality and price.
@@amraceway
Chinese got issues a lot of them. They’re not as cheap as they used to be and they don’t have the population they used to their population is starting to shrink. Plus, they want extremely bad terms with a lot of their big customers because of their violating world trade rules again and again to their benefit the dragging got the case until it doesn’t matter anymore.
@@neilkurzman4907 China still has a massive population.Countries like Australia would be sunk without China.China is a far more advanced country than most Western countries. Very smart people run China, not like the muppets who act for corporate interests in the West.
Play stupid games, win stupid prizes.
It's a different kind of game. It's about losing the least!
Mercedes and BMW produce expensive cars of high quality. They can sell those in China with nice profits.
But are there any such cars built in the US? No there aren't any. So China have nothing to put effective tariffs on!
The US tariffs will hurt the US by making their own cars more expensive. It's yet another nail in your coffin, nothing China need to do anything about.
@@larsnystrom6698 expensive, yes. But high quality? Hahahah !
@@larsnystrom6698german cars just expensive performance, the quality is far below industry average
That stupid quote again
@@KingLutherQ stupid people invoke that quote .
And there was me thinking that because China are exporting cheap yet well made cars to Europe and US, then those two markets were planning to bring their prices (profit margins) down in order to be able to compete.
How silly of me to have thought that.
China has bought loads of cars off of these two markets in the past couple of decades, but now face resistance when they are expecting the favour to be returned.
It sounds like Double Standards to me.
The consumers are the ones screwed in all this.
25% tariffs are legal under WTO rules. 100% is not.
Please show your source for this.
Any tariff is illegal in the WTO. But both countries do it anyway.
@@KingLutherQ retaliation illegal too ?
@@narf0339 China did it first by dumping government subsidized EVs to our market. Dumping violates WTO rules.
@@narf0339 WTO says up to 25% is the legal max
Sounds logical to me. Why would China take these import restrictions from other markets without countermeasures?
Exactly, especially knowing how petty they are, remember when Australia wanted to know more about the thing that had the world on down lock and key?
@@justinr9753
6 USA and 2 australi scientist working in that lab. Why they never been interviewed.
China loses big time if they put tarrifs on US goods. Most of us goods imported are manufacturing tools, spare parts, technology, etc. all things used to produce goods they export. It’s a major loser for China to put import tarrifs on us goods. U.S. doesn’t export many cars to China so it’s not a big deal. China in a bit of a sticky wicket.
@@GTKdje3 I think consumers loose all around
@@olepetersen3554 you act as if consumers in USA are an animal and not people. Very racist. You don’t know much about about Americans other than your hate for them.
It is illegal. WTO allows up to 25% tariff and not 100%.
Is that the reason why China is only hitting back with 25%? It seems the West are behaving like dictators.
Looks like China is perfectly ready to play the same game of the US and EU.
It actually looks like the CCP planned this all out. They have Biden put the ridiculous tariff on their EVs, and then they retaliate against the E.U.?
Too obvious.
what will happen? Suddenly the wealthy chinese will not buy mercs or bmw's anymore?
Check the tariffs that China already has, they subsidise or place tariffs on what and when ever they choose. Grain, pork, wine. Then they straight ban some products like lobster. The CCP controls everything.
Strange there are no protests in eu and usa of working class who would like to buy cheapo and reliable chinese EVs
China stand a lot more to lose than either EU or the US.
Seal is 15k EUR in China. It's 30k in my EU country. Until I see the Seal sold for 15k EUR in Europe, I'm with China on this one...
Of course you are, because forced child labor is ok with you. You do understand why China products are so cheap?
So, then move to China and work there for 5 Euro per hour. People tend to forget that wages in China are also way lower, not only prices.
@@huckleberryfinn6578 Firstly in the EU Chinese is a synonym for cheap crap. ...I know BYD isn't crap, but it also isn't a proven brand with history in the EU. They'll have to start where Hyundai started. Decades of proving themselves with cheap cars. Then they'll have a brand to sell expensive cars. Secondly, the reason these cars are expensive in the EU is taxes/tariffs. Does the EU want to save the planet or not? If they want to, be glad it's cheap to manufacture and let ppl have it. The masses will adopt BEVs of this size/quality in no time for 15k. ...planet won't be saved at 30k...
实际上是大众在中国搞倾销，ID4在欧洲的售价是中国的2倍。
@@huckleberryfinn6578 Don´t be an idiot man! That is not true, only propaganda in the West say so. China is the future, only an idiot don´t see that! I´m from Europe.. My son´s will learn Mandarin, for the better of them, presently they are finishing University.
This is not a 100% tax on China, it is a 100% tax on Americans who want to buy vehicles which are made in China. Do you like being taxed, or would you rather be the "free" citizens we are constantly told we are? Free to get screwed for the benefit of the UAW.
If you are a US citizen, why do you hate US citizens having a job, instead of Chinese citizens?
You hate the UAW so much, you rather destroy the country instead of giving them a single job?
🤔😉
The tariffs will save millions of U.S. jobs.
The US should have invested in Tesla earlier. China been investing heavily in EVz earlier than any major country.
Lol you're actually blaming the UAW?
I don’t understand why this is so difficult. We all know how this ends if China is allowed to dump their EVs below cost. Let China go to the WTO dumping products below cost in order to gain market share should not be legal.
As a trade economist, the World trade organisation is likely to find that the U.S. 100% tariff on Chineese cars is illegal under the we WTO rules that both the U.S. & China have signed up to.
regardless of whatever conclusion the WTO comes to, it has no enforcement for either party. This economic policy is stated to maintain the domestic car industry but like a lot of markets these are captured markets by industry with little innovation drive that are now feeling the pressure from international manufacturing, that were largely domestically financed as well, and now using political pressures to maintain their market capital. Moralizing this economic issue is now a tactic to shift global sentiments is all.
The same rules don't apply to US
What the WTO can do while the U.S. does not keep what it signed.
As a more competent trade economist than you I can assure that these measures are perfectly legal.
I agree. This is a stupid political move by Biden made only to garner UAW votes in the upcoming election.
I could care less about this election but this says a lot about how scared the current administration is.
US and EU wants it both ways. It doesn't work that way.
That's what Australia said about China when slapped with tariffs.
Lol, we can’t import to China anyways. China wants it one way, from them to you.
“U.S. goods and services trade with China totaled an estimated $758.4 billion in 2022. Exports were $195.5 billion; imports were $562.9 billion.”
China has alot more to lose.
is doesn’t need anything from china
@@TheBooban even if they can find some other places to import those 562b, the price may be 2x 3x or even more... or why would China want so many green paper which cant really buy stuffs China want from the US?
In the US we already have 25% tarrif on most imported Chinese goods. The American consumer pays this tarrif.
Not exactly, you only pay 92 percent of the tariffs
only if you buy chinese rubbish
Which kindy you attended.??
In a free market, price is set by the value of the product (commonly, supply and demand). Profit is value - cost. Tariffs are paid out of profits, mostly.
Not only BMW and Merc CEOs are against the gang on tariffs with the EU, stellantis CEO just said its a bad idea as China is forcing every player to change and become competitive. Instead of China buying western brands now its western brands buying Chinese brands to develop EVs. This is why stellantis bought Leapmotors they're ready for competition. This is what freemarket economy is about!
So much for the champions of free market. The entire Asia, Africa and South America should abandon European and American cars for being a bully and causing too many wars across the world
China barely sells any cars in those regions. China sells a bit to Thailand and Israel etc. so even those markets understand that Chinese cars are rubbish.
Nice dream on your part. USA isn’t a big exporter like China. USA companies much smarter and have built their factories in many countries they trade with. Chinese auto companies are welcome to build factories in USA! 😊
@@GTKdje3 TMSC did but realized Americans are too lazy
Really, who is bullying the little countries in the pacific ocean and China Sea?
@@RacerX1971 Ask Cuba who has US sanctions for 50 years. Ask Venezuala. Ask Hawai now already occupied. Ask native indians in the US who are now almost eliminated by white europeans. Ask Syria that is occupied by US army. US has bombed countries thousands of miles from its border. I haven't heard of china doing that.
The largest car market is China, and have considerable leverage over the world car manufacturers.. It is a master chess move for china to position itself as leader battery manufacturer and provider of the largest buyer market for European cars.. China thinks long term, buying European brands to enter markets ( Polestar, Volvo, MG)
The master chess move would be for a car manufacturer to develop a robotaxi (software and vehicle) and leverage the inexpensive operating economics to eliminate a majority of private ownership of cars. No purchase, maintenance, insurance, parking, cleaning, etc... TaaS.
It's not a "master chess move" at all. The CCP gets its man Biden to place a ridiculous 100% tariff on EVs, then they retaliate against the E.U. so they can control most of the market?
That's a grade-school checkers move. It's so obvious.
Baidu alone in China probably has close to 5 million paid robot axis ride by now. It will be the biggest robotaxi market in the world..polls show A growing segment of Americans seems against green clean renewable these days. I wonder if Europeans will follow suit
@@DW-op7ly Actually this was discussed in an interview recently. Baidu has 500 'robotaxis' but they arent really self-driving. Also, Baidu is eager to partner with Tesla. Why is that if they are so far ahead? Dont buy the Chinese propaganda. China is way behind when it comes to full self-driving.
@@almostthere100yes, I agree. That would be a massive game changer.
The U.S. has abandoned the $15k entry level market. Let China have it. Americans need low cost cars.
Americans need JOBS. We don't need cheap, low quality and unsafe cars from a corrupt communist country.
Yes, but as you can see there is a problem. The US just imposed 100% tariffs, the $15,000 car is now $30,000.
You are confused. Small cheap cars have never done well in USA. Remember top selling vehicles in USA are still pickups and SUVs ….not small cars! 😂. Fiat Kia, Hyundai Honda and Mini learned that the hard way.
@@GTKdje3 $15k cars would do well in this economy.
@@newworldodor2641 never have and never will. We have plenty of $15k cars now and they don’t sell well. Best selling vehicles by far are ford f150, chevy Silverado 1500 and ram 1500. Then numerous small trucks and large SUVs. Small cars don’t even break into top 15 sold in USA.
The US & Europe should count their blessings that China didn't return them with 100% tariffs...or it is just starter.
100 percent is illegal 25 is technically the max amt "legally"
They will retaliate. Tarrifs on western car imports in China could destroy some western brands as at the moment this is the largest area of growth they see.
GM, BMW, Mercedes, Volkswagen and Tesla all sell about 1/3 of their cars in China. Just think how bad things could go for these companies if they were to lose them sales.
All China has to do is promote their own brands heavily in their own domestic market.
Expect hard times to come for western auto makers.
Germany is screwed. They are already de-industrialized due to high energy costs. This may be the final nail in the coffin.
Both because of being a friend of USA.
@@paultan5065 Dr Henry Kissenger once said, America has no friends only interest. This certainly is true.
Porsche sells more sports cars in China than in USA
BMW sells more sports cars in China than in USA
Mercedes sells more luxury cars in China than in USA
Who can afford to give up the China market?
@@MetaView7 for that reason Germany is screwed once again thanks to USA.
@@MetaView7 True. That's the reason why if any tariff impossed Chinese EV, the Chinese will retaliate with it own tarff.
The only losers are the consumers that will now pay more as legacy does not wish to change and is keeping prices high.
Chinese autoworkers earn less than $4 an hour. Do you think you or U.S. autworkers can live on that ?
"An analysis of the living wage (as calculated in December 2022 and reflecting a compensation being offered to an individual in 2023), compiling geographically specific expenditure data for food, childcare, health care, housing, transportation, and other necessities, finds that: 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."
"To live “comfortably” as a single person in 99 of the largest U.S. metro areas, you’ll need a median income of $93,933, according to a recent SmartAsset analysis.
“Comfortable” is defined as the income needed to cover a 50/30/20 budget, which assumes 50% of your monthly income can pay for necessities like housing and utility costs, 30% can cover discretionary spending and 20% can be set aside for savings or investments.
US government will use the monies (earned as 100% tariffs from ordinary US citizens who cannot afford the expensive Tesla) and pass them to corrupt Zelensky.
It's great if prices are lower, but if you don't have a job because the industry in your country cannot manage to compete anymore, then you still can't buy anything. I think it is not totally wrong if people buy what they produce in their own countries.
Not only consumers but the US auto makers will hurt.
GM sells 1/3 of its vehicles in China.
Tesla has a large market share in China too.
If and when China retaliates, GM will probably go bust. Tesla will be in big trouble as they just laid off 14,000 workers last month. Ford will also suffer. Chrysler might survive only because of its parent company, Stelantis.
Instead of trying to compete with these Chinese EVs, which is what they need to do, they won't. They will try to sell overpriced expensive vehicles. This might work in the US, but it will not work in any export market.
We will soon see the day when these US auto makers will be pushed out of every market. They will only be in the US and Canada.
I don't know if GM can survive with that. They already lost Vauxhall/Opel in Europe and Holden folded in Australia last year.
The only hope they have is the developing world. A world where the US government is making it harder and harder for them to compete in.
China will dominate the developing world. They already have massive presence in South and Central America and a growing presence even in Europe. They will dominate Asia too.
@@bubba842 Agreed, very similar in the UK, where fees already make theMG, BYD etc almost as expensive as the RWD Model 3, especially when you push up the tech to be closer levels. The legacy car makers have been left to slowly update cars every year and charge extorionate amounts for all the extra tech. EV's gave us a lot of this within the price and that lost profits for legacy makers as difficult to move from their old models.
Countries have been very happy for China to take on manufacturing and only now have worried about it.
today I saw the true face of America's free market policy.
You can't compare the social and environmental costs that the west companies have, versus the ones has China.
It's pretty funny! America clearly hasn't had a free market since the early 1960s. We ALMOST went back to Capitalism in the 1980s, but not quite.
The government controls the economy everywhere. No reasonable person could argue otherwise.
If China has no free market, it makes no sense to give them access to your market. 😂
Free markets don't rely on forced child labor, Ping. Tell your Supreme Leader to stop being a criminal.
@@PETERJOHN101 Say that after you find Saddam's WMDs. Also, first you need to prove that there is forced child labor involved in the first place. Secondly, if that is the case, why are you people supporting it by buying so many products from said country that it went from one of the poorest in the world to a superpower? Moreover, they stepped up their game simply by automating most of their stuff. E.g. Xiaomi spends 76 seconds to create a SU7 through its automation.
If 25 percent added, i can say bye bye to Mec & BMW in China market.
do you think the wealthy people who buy mercs or bmw's in china will give up and buy byd's? I don't think, they will buy it even with higher % added because it's a status symbol.
@@orionbetelgeuse1937 Actually more wealthy Chinese buying local brands now.
@@orionbetelgeuse1937Your concept of Chinese not buying Chinese products is a decade old and no longer applies. At least not in regards to consumer products.
@@TheRedSun1. And context percentage. If China sells x parts outside China they should get tariff reduced because they are supplier of auto parts. Can they even make cars outside China without China. This needs to be negotiated.
@@orionbetelgeuse1937 I Agree 100%. Most Rich Class buy Mecs and BMWs as a status symbol but Mecs and BMWs sales will be hugely affected as more and more Chinese brands are targeting the rich as well. There was a story about the Aito M9 - an expensive EV jonitly developed by Huawei, many rich buyers switched from Mecs or BMWs liked these Aito M9s but they complained that the price was not good enough (too cheap!)
The quality of China EVs is so good the Chinese are more than happy to only drive Chinese made cars.
When you're in China the roads are almost completely silent.
‘Murican Pride!! If U S A car brands are not selling well in China … we will make sure EU cars don’t sell well in China either 😂😂😂😂
If Biden was installed as President by the CCP, then it would stand to reason that this is just a Chinese plot to control the entire EV market.
They WANT to control this market, they are willing to use nefarious government methods to accomplish their economic goals.....so it seems obvious what is going on here.
It's got nothing to do with national pride, Cletus. It's got to do with preservation of the usd, but this is over your head.
@@PETERJOHN101No it’s election year stupidity. Biden puts 100% tariff on Chinese EVs that don’t exist in US, and triple the the steel tariff when imported Chinese steel is only 0.6% of US steel usage. What’s EU’s excuse? Will Von der Leyen get to keep her job now German car makers are mad?
You are confused. What does US tariffs on Chinese cars got to do with EU products? None really.
@@KingLutherQ Big SUV models of BMW are produced in Spartanburg USA and shipped from there to China!
I was talking to the president of China and he’s not furious
The Electric Viking, This made me laugh so hard, thanks for sharing!
These measures are to save jobs in the own countries but these Car companies don’t give a dam just as long as they are making money for their shareholders.
Most have moved production to Mexico because of no Unions and cheaper labor. Research it and if I'm wrong, please reply with your research. Even Toyota offloaded the Tacoma production from San Antonio to Baja, Mexico. WHY? They could have expanded the San Antonio plant easily and there are plenty of non-union employees that would love to work at that Toyota plant. The reasons are cheaper labor and fewer regulations and they can then export the vehicles back into the USA tariff-free.
They can also ban American fast food brands. Starbucks
that wld cripple both china and us
@@uselesstable2058 no it will only hurt the US. McDonald's left Russia they are doing just fine with their own brands
Those brands offer jobs to Chinese people in China. Who runs Starbucks in China? Chinese people. So there is no point in doing that.
Chinese cars are made in china and then sold abroad. It only benefits China.
Starbucks couldn’t get a hold in Australia because the coffee here was much better and cheaper than what they had to offer . Yesterday I attended a town meeting aimed at preventing McDs from opening a store in our town because the people don’t want their unhealthy business here. Education and quality work better than tariffs.😊
The American fast food industry kills more people than Russia in Ukraine. They do much more harm than so called overcapacity of Chinese EV industry which is actually helping to save the environment
Good on the Chinese.
All us consumers will just pay more. One had no issues to run to the dollar store and get some item to make their signs to keep jobs in America (just used as an example). But they would not go pay $3 for similar markers made locally. We in the west have pushed China to be a great world manufacturing center. Now they are manufacturing cars. Raising tariffs may slow it down. but the cost is that we will all pay more for all kinds of things, not just EVs.
Yeah but you’re paying an American worker who pays for other American workers and the government gets more taxes.
Instant inflation
@@TheBooban
And your government then uses it to finance wars abroad 😂
Be a patriotic American and pay more for local made 🎉
@@DaddyBear205 hahahahaha
I have to think of the irony here. One beef I have with oil is that its geopolitical. Now everyone can make their own electricity clean and cheap. So E-vehicles have become geopolitical!
MajoriTy of electricity generated in China and rest of Asia is dirty coal power.
Facts
1. US never certified Chinese car to drive on American roads so zero Chinese car in U.S., 0 x 100% tariff = 0
2. Since there is no Chinese EV in US, hence no Chinese battery needed to replace so 0 x 50% = 0
3 solar panels 50% tariff effective is 2026, means gives importers two years to stock up Chinese solar panels and who knows what’s going to happen two years from now.
They did like facts here, did you see some of the other comments.
So... basically in this case China doesn't lose... while with China's countermeasures, US companies immediately lose, right? 😂😂😂
american market needs chinese cheap battery.
otherwise american ev market cant grow.
When you check sales figures GM sold 2.1 million cars last year in China, Bmw about 800 to 900k, Ford about 600k and Mercedes unknown. So if anything these tariffs would affect GM most and if China is smart, it would retaliate in kind and target Ametican made cars with a 100 % tariff equally. That would probabnly affect GM enormously and might definitely push Ford into the red. And these tariffs should apply to all cars, ICE or EVs, to make the biggest impact.
China is playing by the WTO rule of 25% tarriffs, while the American does not play by the WTO rule.
@@andrewcruz-nz1ebSo why should the Chinese play by the WTO rules if the US isn't?
people in canada and usa need cheep cars from china in na every thing here cost to much because of the fat cats
I am not going to buy another expensive car. I'll wait.
There you have the problem! When the CEOs and Managers receive multimillion dollar salaries which eventually come from car sales, is that China's fault again? I'm willing to bet that the Chinese managers and CEOs are paid well, but not sinful salaries!
(1) The trade war is escalating (Paul Krugman warned of this)
(2) China is essentially being punished for being vanguard capitalists: they made timely investments, good design, good fabrication
(3) China may deserve to be world leading EV auto manufacturer ... but US/EU ought also be able to manufacture for their home markets
Stop blaming China when the European factories producing Mercedes, BMW, Audi lost money and have to shut down. Recognized that China is only reacting to EU bans and tariffs.
China is right….. EU and USA just scored a massive own goal…… dumb strategy…….
China and USA are both WTO treaty signatories. As such they have to follow WTO rules for free trade. Disputes are not taken to a "Federal Court" in any specific country, but instead to the WTO tribunal. AFAIK, all the tribunal can do is to officially allow retaliatory tariffs be placed on goods from an offending country.
If the bully, Murica, ceased following Wto rules, Wto seems to hv no teeth to stand up to Murica, then replying in kind with a targeted 100% tariff on Murican cars is the only way to bring some sense back to the table.
The Biden administration has a history of deciding what laws and regulations it chooses to abide by.
@@bobmorane4926
No, Cletus, the US is not a bully, nor is China a victim. These economic matters are over your head.
Pity China does not give a rats arse about any body's rules except what suits them.
They would love to see total world domination in every sector.
@@PETERJOHN101 Look around, everyone can see Murica follows no rules in this world. It wants to pretend it;s leading the climate change issue but it turns out China is the one taking the lead. So what does Murica do ? A Tonya Harding knee cap maneuver, of course and says 'forget climate change' bcos I can't keep up with China. That's the gist of it.
The tariffs against large engines is a huge net positive.
overcapacity engines are useless. tax it as jewelry
Actually the Chinese brands are going to dominate the Chinese market. The tariffs won't matter since non Chinese brands won't be competitive even without the tariff.
wrong... South East Asia with 700+ milions big market for Chinese EV... and China EV are sale good here... Cheap, modern and reliable especially Ora and BYD ... You can see BYD everywhere in Thailand now...
PHEV is the dominent type of EV, no one can compete with china of the this type ev.
It's not that the Chinese believe the Americans are targeting them. They are 🤣🤣🤣
Jeez. This import tax on large gasoline engined cars is going to mean more sales in China to be either small gas engines or EV’s. That is a win for the climate!
Awesome content.. When you say that America will maintain its auto manufacturing, you must keep in mind what we pay auto workers. $100k+
100K yes... But increasingly the number of auto workers will be decreasingly! Like it or not, these auto workers will be replaced by much more affordable humanoid robots.
not just the $100k, plus holiday loading, sick leave, health care, retirement funds... that can be easily $150k
I don't understand you guys. Highly educated, highly experienced, highly motivated, highly innovative workers are much more productive than cheap labour- even with many more cheap workers hired by the boatload. Aim for the top and not the bottom.
@@dr.x4050 exactly.... that's why so many Chinese have moved to middle class
@@dr.x4050 they are litterally tightening bolts all day. the real work is in ther engineering.
i think America and Europe didn't really analyzed counterweight of their decision with all raw materials arriving only from China.
Sure, in a few days, America and Europe will face price raise to balance taxes raise on Chinese EVs.
that’s the point get off ccp materials prices like lithium are being suppressed
The 1.3B market is China as of today. It's a solid, firmed market. Nothing like the EU or the US where California and other States regulate their own market within their state borders. Simply put, the market is divided. The Chinese market is not divided. When China imposes tariffs on European car manufacturers, and the US too, it will cause such an upheaval for every car manufacturer that some of them will disappear or shut down, reduce production volume, etc... How many Mercedes, BMW, Audis have been sold in China to date? ! 737 thousand Mercedes were sold in China in 2023! Some orangutans are not aware of the reality, the Chinese reality.
The problem for the legacy industry is that the Chinese EVs are very, very good and outstanding value for money.
The Chinese strategy has been to not compete by making ICEV, something that would be hard to do against the likes of GM, Ford, Toyota VW etc. Instead it has pursued an offset strategy competing in a new field of propulsion where the legacy manufacturers have not yet developed strong capability.
In developing its strategy, It's no surprise China drew heavily on the experience of Tesla, one of the US's most innovative companies that was encountering head winds in its own domain.
It has been a very clever strategy but also a gamble. However, it now looks like being very successful. He who chances wins.
This is going to be exciting & this is going to hurt... 🤔👌
Tariffs, sanctions, and embargoes eventually lead to inflation. Inflation is the easiest way to diminish the Federal debt problem. And so it's inflation we're going to get.
"You can compete... unless you get better than us, then we will change the rules" I'm with China on this one! Competition is good, that's how we will thrive!
It's always amusing to see members of the US Empire making judgements about what is legal and what is ethical.
The tariffs on import cars is as much a retaliation as it is a means to convert foreign car sales to domestic. Instead of buying foreign made, Chinese would be buying domestic brands. The tariffs would likely hurt sales of Japanese cars more so than German or US cars. Wealthy buyers choose ultra expensive German brands because of the prestige of ownership. They can certainly afford to and are willing to pay a higher price as it would boost the prestigious factor.
I think China is not nearly furious enough yet. They only add 25% tax on fuel car imports from America and EU, however the EU and America already add 100% tax on Chinese electric cars "to protect their manufacturers" but they ignore their own poor customers who must then pay double for an EV in EU and America.
I catually wish China would raise their import tax to 100%, not only 25%, for gasoline imports.
they dont need to, Chinese people are gradually perferring Chinese brands.. just look at Apple. over time american and european products will have less appeal. the 100% tarriffs and anti-China retoric will just accellerate the trend.
You don't get it. A 100% tariff on Chinese EVs selling at half the cost of domestic models creates price parity. The Chinese don't have a cost parity issue so the 25% tariff is completely punitive against foreign sellers.
I think 25% is because of adherence to WTO rules. CPC playing by the international rules vs democratic rules based order 😁
If gasoline is needed and the state the biggest buyer ... what is the point of those tariffs, again??
@@PETERJOHN101 stupid, foreign price of chinese ev is double of domestic price.
So much for FREEDOM, CHOICE and PEOPLES RIGHTS with massive tariffs.
The USA is on the run!
American and European auto makers were ok with dominating the Chinese auto market when they could, but now that China is offering better deals, it's different. I gotta say that legacy auto is still going to continue suffering huge losses, even without Chinese cars. And greed is ironically the cause. Hey people do these things to themselves.
I don't think this is gonna affect US much. Apart from TESLA, US cars aren't really "star of the show" when it comes to cars. But like many other thing, this is something US did, EU followed suit (like a good dog), but is gonna affect EU severely, but not much US.
It looks like a Biden/CCP move. And it's not even very intricate. It's like they are playing third-grade checkers and still confusing the world somehow.
China wants to control the entire EV market. This is how a totalitarian socialist country would accomplish that.
EU cars may be stars when new, but breakdown when warranty expires. Chinese cars blow up when new.😂
@@brawnbenson552 Butthurt much? How about American cars? Broken right outta factory?
Sam, I think you are interpreting the Chinese tariff wrong. Yes, it will apply to the expensive cars "imported" into the country but not for those manufactured in China. Both GM and Toyota products, AFAIK are made in China with like you say a local partner.
Well just like Tesla model S , X isn't made in China, there are GM models which are imported from the US. Those imported models will be affected and I think China should immediately target American made cars with a 100% tariff in kind to drive the point that it's a tit for tat situation.
Most of the imported cars are high end luxury cars and their numbers might be small but they are usually high margin items. Since Murica won't allow any Chinese car without a 100% tariff, it's high time China hits back in kind on any cars imported from the West. Too bad if you want to have a trade war. Nothing is off limits.
@@bobmorane4926They already targeted them all with ICE car ban in China
@@mihailprokopenko6174This doesn’t make sense. The EV percentage of all new cars sold is 50%.
@@mihailprokopenko6174but there are much more Chinese ice manufacturers affected by ice ban
@@mihailprokopenko6174 Like I said, many Murican cars still being exported to China, including Tesla, GM and Ford and even Stellantis. China should tax those imported cars in kind with a 100% tariff to make it even.
Yes, General Motors does export some of its vehicles to China. However, it's important to note that the majority of GM vehicles sold in China are actually manufactured there through joint ventures with Chinese companies.
In 2024, GM announced that they would be resuming exports to China with the Chevrolet Tahoe and GMC Yukon SUVs through their premium import business, the Durant Guild [2]. This marks a shift from their previous strategy of focusing on domestic production within China.
It's too early to say how successful these exports will be, but they represent a small portion of GM's overall China strategy.
Govt needs to get out of car sales , let quality and price control sales
Just a thought
You keep hearing it’s important to transition yet the West blocks EVs
Time for the EU to leave the USA Alliance and join Peace Alliance China Russia. China Russia Peace. UE can Join. EU Russia China Peace Zone. Thats a good Solution for Peace and Prosperity.👍✌️
Can Hong Kong, Taiwan, Mongolia, Tibet, and India join?
Who invaded Ukraine? You probably can't remember even if it is blatantly written in front of you.
Who is planning to take democratic Taiwan? Could it be this peace loving dictatorship China who is also supporting terroruzzian on its brutal genoside on ukrainians?
Another braindead, both sides are guilty.
@@jantjarks7946 America invaded Ukraine. Years Ago. Covert. Hunter Biden was 7 years in Ukraine. His father Biden President and the War started. A Father Son enterprise. US Army left Afghanistan and Ukraine War started. No time to lose. NATO EU America want Ukraine. The Germans were in Ukraine before. Now they are Back. Russia has no choice.
I think this move by China is brilliant! It is measured and sounds like a good environmental step. They don't ban the cars or manufacturers outright... what they do is force these cars to have tiny engines. Emasculating them.
This makes these cars far less appealing to those who can afford them and will drastically hurt their sales.
It also cuts further down on pollution in China.
An S65 bi-turbo amg, now available with a 1.2 turbo that gets 60mpg, sounds good to me.
From the many reviews I have read on Chinese cars, they appear to be good quality and very well made. US manufacturers are not competitive in the EV space, as most EVs here are too expensive for the average buyer. Also, those cars cost more to insure and repair. What has become obvious is that Chinese manufacturers like BYD are much farther ahead of the US and Europe in making EVs. Their battery technology is better, and their cars are more affordable. US tariffs protect our car industry, which would collapse if companies like BYD entered the market. Tariffs prove that GM, Ford and Stellantis cannot effectively compete with China. Not even Tesla seems up to that challenge. Thus, it will take the US and Europe longer to transition to clean energy. In the meantime, the rest of the world will be buying cheaper, better-made EVs made in China. The future does not look too bright for the old ICE companies.
Remove government intervention in business and war stops. Attacking those who provide you with your products/services is self-defeating, irrational, immoral. Or, as an Austrian Economist put it: "When goods/services can't cross borders, troops will." Trade is win-win. Govt. is: Promises paid for in advance, NEVER delivered. Faces changed, NO change in the govt. Still vote? WHY?
Sure China hurts Australia at times with trade, but that’s nothing in comparison with the punitive trade embargo the Europeans have inflicted on Australia for generations.
mate, if they really wanted to hurt us it wouldn't be wine and lobsters... It all started with Turnbull with his China Reset in 2018 back then China didn't do squat to us. It's us wanting to shirt front them, likely on the behest of the Americans.
Strawman with off topic tshirt...
I may have ethical issues with the CCP, but the U.S. and E.U. tariffs are wrong, and I have to side with China on this one. The West knows subconsciously that electric vehicles are the future, and that in ten years or so, the car market will basically be Tesla vs. BYD, with a handful of other Chinese brands and American startups like Rivian and Aptera taking the rest. America is trying to postpone the transition, because we over here are so obsessed with big gas behemoths, and the E.U. is trying to delay so that their manufacturers can catch up and not die. Meanwhile, manufacturers in Japan are doing what they seem to like doing a lot-defending a format to the dying end, the way Toshiba nearly did themselves in over HD-DVD or Sony with Betamax; in this case, the Betamax is hydrogen fuel cells.
Viking, please look it up...100% tarrifs are illegal under WTO rules...25% tarrifs are allowed
Let's hope we see a surge of cheaper Chinese cars here as we are not in any conflict economically and we do not levy import tariffs unlike the EU and US on Chinese imported cars. China is no longer levying tariffs on our wine, timber, barley, seafood, etc., so let's see them drop prices on MGs and BYDs, here they are welcome!
美国和欧盟也许可以在本国对中国车设下高关税，那剩下的亚非拉的广大市场，他们拿什么来和中国竞争？
The UK/EU will need boatloads of Chinese made BEV's to meet their ZEV & Netzero targets. Legacy auto cars are too expensive & have no chance of competing with Chinese EV brands on price & quality.
Competing with China in Asia and Africa is a seperate issue.
The US and some European countries are worried about the damage to their own auto industries. The low(er) cost of labour in China is the real issue for the US and Europe car industries.
煞笔 tankie
@@Paul-ow9ddIt’s only “low” compare to artificially high UAW wages. China’s real advantage is integrated supply chain, not cheap labor. That’s why all “decoupling” did was to shift final assembly to a third country as most of the components are still made in China.
@@Paul-ow9dd Paul, the labour cost is only small part of it. EU and US need compete with China in the whole supply chain, innovation, productivity when comes to the EV. EU and and US simply cannot compete!
Musk talks of innovation and problem solving, the government talks about blaming China and Musk. Jeannine
Every government should be putting tariffs on large combustion engines ! We should have started doing it 30 years ago to slow down the use of fossil fuels. It would have sped up the use of batteries. We'd be in a completely different place today . We would have met The 1.5 c limit. But because government s have been swayed by petroleum companies across the world, we are not going to meet the 1.5 and we'll probably exceed 3° c before we start turning.
Any reduction in atmospheric carbon lowers global food production and promotes starvation. The Vostok samples proved the earth was much warmer 150k years ago despite having much lower carbon levels. Climate change "science" is the invention of Oligarchs seeking new methods of taxation to finance their wealth.
First intelligent comment on this issue!👍🏽
25% tax is not enough. China should hit all US cars with exactly the same 102.5% tariff.
Sack Albanese, sack Penny Wong, demote Peter Denton to back bencher, sack Bill shorten, sack Jim Chalmers, sack Andrew Giles, sack Richard Marles………..all these non performing, inefficient, useless MPs should be sacked. Then replace them with other MPs who are even worst . That’s the current problem in Australia….severe lack of good quality ministers.
This is about the Petroyuan. US hates it when other countries uses other currency to trade for oil. This trade war started in 2017 when China used the Yuan to buy oil and then hit them with tariffs.
No it didn't start that way!
But it will end along those lines.
the west is over😂
This tariffs also hurt the US car manufacturing more than you think.
US built Lexus does export to China as well, the 25% tariffs increased would hurt its sales which means jobs could go for the Lexus plant in the US!
It's absolutely outrageous that we're dealing with this issue. The true excess capacity isn't from those Chinese electric vehicles. The real problem lies in the dollar. Every time America decides to print more billions, the interest rates shoot up to the sky, and the entire world ends up paying for the trillions they're just printing. My monthly mortgage has surged by a whopping monthly £700. It's imperative that we establish a reserve currency backed by gold ,that isn't dominated by America!
That's largely the Ukraine war
yes. let's use the yuan and ruble. they are backed by trusted and benign world leaders. or the Iranian rial or the North Korean won. or the Venezuelan Bolivar. for maybe you could move there.
@@benpayne4663 It's is.more likely to be a settlement currency, like the Bancor.
Whether we like it of not our strategists have seriously blundered and handed over the economic dominance of the world that gave us great benefits to the East.
And yes, I'd consider moving there. We're stuffed.
@@yuglesstube hmmm. why are those countries illegal migrants standing in lines of 4000+ people each and every day to get thru our southern borders. and ruzzians and chinese with dual citizen passports in Europe and US. the yuan and ruble devalued to subsidize exports. there are plenty of current CZcams videos about china's economy woes to include the auto industry . I think highly of chinese people and wish them good fortune but they have been dealt a malign hand that is reaching across the world.
Basically what you are saying Sam is that the gloves are off and the Chinese are saying you fuck with us and we will do the same to you and more so. Sounds fair. The dragon is now awake. Keep up the great work on your channel
My thoughts on this are very clear: The Electric Viking is screwed!😂
I am not chinese, but I am tired of hearing the economic wars and sanctions initiated by the West. I think China and the West should completely decouple and go seperate ways. Like an unhappy marriage that needs to end. They don't have to be enemies or friends, just stop talking to each others. May be then the world will be a much quieter place.
That’s not how any of this works.
Two largest economy entities conflicting each other, no one can get away from the impact.
Tit for tat so make your tariff decisions wisely 😊
How could you decouple when you've $4 trillions worth of assets in that nation?
The US economy would implode…😂😂😂
No worry for BMW and Merc , those rich people in China love expensive car .
+25% is nothing for them.
The current mainland Chinese regime seems to be somewhat favoring self sufficiency over trade anyway. Hence it's building EVs, but also coal plants, presumably to reduce dependence on foreign oil, moreso than for climate. (And building its own commercial jets, without any effort to get them certified elsewhere.) Kicking out foreign cars via tariffs, could work toward that self sufficiency, not merely retaliate for American and European trade policies.
China has been using tariffs on many countries as well.
China has targeted many industries like wind turbines, solar panels, drug manufacturing, chemical, manufacturing, gene sequencing, low end chip manufacturing, rear earths, steel manufacturing, and the list goes on. They do this by pump and dump, lower the cost of the product until the competition is crushed. China has had and increasingly more so today state owned companies that can produce things at below cost for long periods of time to wipe competitors. If countries want to keep its own citizens employed and increase their own productivity they need markets to sell to. If China is the only country making things to sell then we will all suffer in the long term.
Total BS mate. Western profit margins are 5-10 times higher. Labour cost is much lower in China. Supply chain eco system is the most complete n at low cost. People work harder too (efficiency). Mass production benefit as well. The West can't compete period.
@@roddiechan Without profit margin you would not have a job, well unless you work for the government. Or maybe you work the 9/6. 9 hour days 6 days a week 50 weeks a year like Chinese. Have a look at the Chinese steel industry, they killed of the us steel industry, now there is so much over supply there own manufacturers are going broke. Same in the electric car industry in china massive over supply companies you've most likely never heard of, going bust every month from over supply in the industry.
Most people that talk like you get paid western wages in the west from a western created economy that exists because of jobs in western counties with profit margin. If western countries have no export markets, the balance trade goes negative and you end up in trillions of debt just like the USA and decimated industries with no money for R&D.
Obviously you narrow minded or make money from China imports, by low sell high,
Which is it?
@@globaltreasures02100So much ignorance and false “facts” in your statements. Imported Chinese steel was only 0.6% of USA steel usage, that’s why tripling the tariff means nothing and is only election year shenanigans. US steel industry couldn’t compete with Japan or Korea, and was long died before the Chinese even ramp us their own industry.
Don’t blame China.
US has transferred manufacturing to Japan first. When the Japanese labour gets higher, it got shifted to South Korea, then it got shifted to Taiwan, finally to China. China did not rob US’s job. US business has been giving them away long before Chinese Citizen could own a car.
I'm happy to support China. It made it possible for poor Americans to afford things. Now the racist and jealous U.S. government wants to slap tariffs on Chinese goods making them more expensive. There is no American companies making goods like China. So everything goes up because of trump and Biden's stupid tariffs. Screw them.
Compleet bs .china followes no rules that is the issue.check the polution .for example inner mongoli
whilst the west enjoy affordable made in china products.....
About the pollution per capita 2023
China - 8.9t CO2 per capita
USA - 13.3 t CO2 per capita
Imagine the pollution if the USA starts producing everything that is now importing from China!
Tesla wants to sell in China, but doesn't let BYD to sell in U.S.!
00:48 - Sam: "It's not illegal!" - WTO: "Come again?!"
So then it's ok if your government taxes you with 100%, too...
I am somewhat surprised when I read many of these comments. It's just like people don't seem to understand, that in China wages are considerable lower, there is not nearly the labor standards we have in the West, and they open coal fired power plants on a weekly basis. Anyone suggestion for non tarifs, "equal' competition, should understand, that you would have China wages in no time if this was going through - as well as all other sorts of manufacture would suffer similar fate. Rest assured, all those "cheap things from China" suddenly won't be cheap anymore, if all you have is China wages!
The automotive industry will be absorbed by the consumer electronics industry.
This will be fun to watch.
Its like when i first saw tires made in china. I thought, who in their right mind would trust it. Well, 10 years later and they are everywhere. In the end of the day, regardless of what i believe, there will always be people that buy something base on price alone.
25%only? Someone just slapped on 100% on China 😂
Every country have the right to defend its own economy.
They are exceptional just like the Unequal Treaties levied on china during the 150 years of humiliation. China should study their history books thoroughly.
My thoughts - all sides escalate tariffs - who ends up paying them - the tax-payer - who has already payed income tax on the money.
What's really their bread and butter are heavier machinery: trucks, ship engines, construction equipment, buses, etc.
The people who buy high end German cars are buying for status symbol, they don't care about the price. So the import tax is not going to affect the sales of these cars.
"For the first four months of the 2024 year, China registered a surplus of USD 255.66 billion".
What will happen to Volvo?
Designed in Sweden and made in China. Take care.
Janet Yellen when asked if she anticipates China retaliating after imposing 100% tariffs on Chinese EV's and her answer was ' I hope not'