China has imposed significant trade restrictions within the electric vehicle industry against foreign companies for nearly fifteen years, including a 50% tariff and numerous non-tariff trade barriers, to bolster its domestic industry. Only when their industry was overwhelming dominating the rest of the market did they cease these measures.
It would be entirely biased to believe that the United States and the European Union do not have the right to implement similar trade measures to strengthen their own industries.
Those tariffs were perfect timing. Just six months before the election. That said, protectionism & isolationism to me is simply not the solution here. We must do better.
The last part about isolation needs to be emphasized too. The tariffs above 25% are illegal under WTO charter.
China has imposed significant trade restrictions within the electric vehicle industry against foreign companies for nearly fifteen years, including a 50% tariff and numerous non-tariff trade barriers, to bolster its domestic industry. Only when their industry was overwhelming dominating the rest of the market did they cease these measures.
It would be entirely biased to believe that the United States and the European Union do not have the right to implement similar trade measures to strengthen their own industries.
Great article.
Those tariffs were perfect timing. Just six months before the election. That said, protectionism & isolationism to me is simply not the solution here. We must do better.
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Would be great to have a similar post for the eurozone!