The U.S. government has raised tariffs on certain products imported from the Chinese mainland, aiming to protect its strategic industries.
According to the U.S. Trade Representative's Office, the new tariff adjustments, including a 100 percent tax on Chinese-produced electric vehicles (EVs), took effect on September 27.
Limited Impact as Chinese EV Exports to U.S. Remain Low
Chinese electric vehicles have primarily been exported to ASEAN and EU countries, with the U.S. market accounting for less than 1 percent of total exports.
Chinese customs data shows that only 12,500 Chinese EVs were exported to the U.S. in 2023, representing a small fraction of overall exports.
The increased tariffs are designed to restrict Chinese EVs from entering the U.S. market, but this measure is not expected to significantly affect China’s overall EV exports.
From January to August, China exported 1.31 million units of EVs, marking a 25 percent increase year-on-year.
With EV penetration rates still low in major countries, there is substantial potential for market expansion. Consequently, China's EV exports are projected to continue their rapid growth in the coming years.
Reference(s):
cgtn.com
