Some US senators have urged the Biden administration to increase tariffs on Chinese EVs further
ELIZABETHTOWN – US Treasury Secretary Janet Yellen on Wednesday said President Joe Biden's administration is taking steps to ensure success of the domestic electric vehicle industry in the face of China's growing exports in the sector and heavy government subsidies.
As Chinese demand flags at home amid economic turmoil, its growing exports of EVs to global markets have raised alarm bells in Washington over the potential to inflict harm on US automakers, just as its excess capacity in steel and aluminium decimated US metals producers in past decades. Another avenue for higher US trade restrictions on Chinese EVs would be a long-running review of the Trump tariffs on hundreds of billions of dollars of Chinese imports being conducted by the US Trade Representative's office.
"It is true that China is investing very massively in this industry and the United States is taking steps to ensure that our industry is successful," Yellen said, without specifying such actions.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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