Are Low Priced Chinese EVs About to Flood the US Market

Low-priced Chinese electric vehicles might soon outpace American EVs through Mexican trade deals. Chinese carmakers setting up operations in Mexico could send inexpensive EVs into the United States, leading to potential factory closures and job losses in America. The U.S.-Mexico-Canada Agreement could allow these Chinese EVs to enter the U.S. with low or no tariffs, but customs officials and policymakers might take actions to prevent this. U.S. automakers face challenges such as higher EV prices and a scarcity of charging stations, leading to slowing sales. China currently leads in EV manufacturing, producing nearly 62% of the global total, compared to the U.S.'s 1 million units. The U.S. might block Chinese EVs on national security grounds, and President Biden has increased tariffs on Chinese EVs to 102.5% to deter their market entry.

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