President Joe Biden is floating following former President Donald Trump’s China approach as he looks to protect the administration’s electric vehicle goals.
The Biden administration is considering raising tariffs on Chinese electric vehicles in a bid to boost the United States’s domestic electric vehicle industry, the Wall Street Journal reported. China dominates the industry globally, and many within the Biden administration fear that this dominance could affect the latter’s ambitious green energy goals.
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Biden himself has publicly bashed Chinese trade practices.
“China is determined to dominate the electric vehicle market by using unfair trade practices, but I will not let them. I promise you,” Biden told a crowd of United Auto Workers members in November.
Though the Biden administration has kept many Trump-era tariffs in place, some want to raise them further. The current tariff in place for Chinese electric vehicles is 25%.
Another possibility is targeting other green energy products from China, such as solar products or electric vehicle batteries.
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China has announced its opposition to a raising of tariffs, with Chinese Foreign Ministry spokesman Wang Wenbin arguing that it would lead to a trade war and that there is “no winner in a trade or tariff war.”
“China will follow closely what’s to happen and do what’s needed to protect our lawful rights and interests,” he added, according to the outlet.
