Tweet of the Day: China Raises Tariffs on Chinese EV’s and Batteries?
Tweet of the Day: Biden Raises Tariffs on Chinese EVs and Batteries
The right leaning Joseon Ilbo and Donga-A Ilbo both touting the positive ramifications for ROK industries and job creation of Biden standing up to Emperor Xi.
The Korea Herald highlighting the benefits to Korean battery manufacturers.
The Korean battery industry may benefit from the new US tariffs — set to increase from 7.5 percent to 25 percent — on Chinese lithium-ion batteries next year. This move could diminish the price competitiveness of Chinese companies like CATL and BYD, which have previously countered US trade barriers by reducing prices.
“Korean batteries are currently leading in the US EV market. With the anticipated rise in costs for EVs equipped with Chinese batteries, American consumers might show a preference for Korean batteries, which would be similarly priced but not subject to the same tariffs,” a Korean battery industry official said.
Moon Joon-hyeon, The Korea Herald, May 15, 2024
Last edited 5 months ago by Stephen
ChickenHead
5 months ago
TWEET OF THE DAY: CHINA RAISES TARIFFS ON CHINESE EV’S AND BATTERIES
And in a shocking development, China has responded with sanctions against China.
“We will not tolerate this violation of trade agreements and the rules-based order,” said Minister of Imports, Hung Lo, about his counterpart Sook Me Long, in the Directorate of Exports.
Tweet of the Day: China Raises Tariffs on Chinese EV’s and Batteries?
Tweet of the Day: Biden Raises Tariffs on Chinese EVs and Batteries
The right leaning Joseon Ilbo and Donga-A Ilbo both touting the positive ramifications for ROK industries and job creation of Biden standing up to Emperor Xi.
The Korea Herald highlighting the benefits to Korean battery manufacturers.
The Korean battery industry may benefit from the new US tariffs — set to increase from 7.5 percent to 25 percent — on Chinese lithium-ion batteries next year. This move could diminish the price competitiveness of Chinese companies like CATL and BYD, which have previously countered US trade barriers by reducing prices.
“Korean batteries are currently leading in the US EV market. With the anticipated rise in costs for EVs equipped with Chinese batteries, American consumers might show a preference for Korean batteries, which would be similarly priced but not subject to the same tariffs,” a Korean battery industry official said.
Moon Joon-hyeon, The Korea Herald, May 15, 2024
TWEET OF THE DAY: CHINA RAISES TARIFFS ON CHINESE EV’S AND BATTERIES
And in a shocking development, China has responded with sanctions against China.
“We will not tolerate this violation of trade agreements and the rules-based order,” said Minister of Imports, Hung Lo, about his counterpart Sook Me Long, in the Directorate of Exports.
@Stephen, thanks for catching my typo. I fixed it.