Uncommon Knowledge: Trump Gets a Shock on Chinese EVs
Newsweek • • business
Key Points:
- Canada has agreed to cut tariffs on 49,000 Chinese-made electric vehicles annually, part of a broader trade thaw that also lowers Chinese duties on Canadian agricultural products, signaling a move to diversify trade away from U.S. dependence.
- This shift follows President Donald Trump's recent remarks welcoming Chinese automakers to build plants in the U.S., reflecting a growing openness among younger American consumers toward Chinese car brands.
- The U.S. maintains a 100% tariff on Chinese EVs and plans to ban Chinese and Russian auto software and hardware by 2030, creating conditional barriers despite Trump's invitation for Chinese investment.
- The European Union and the U.K. are adopting more flexible approaches, with the EU moving toward price floors rather than outright
