Tariffs

China was allowed into the World Trade Organization (WTO) in 2001 and they immediately began breaking the rules. Their standard procedure was to subsidize an industry and push product onto the world market at less than production cost. This caused the competition to go out of business. A good example is Bethlehem Steel. Trump was the first major US politician to go after China. He pointed out not only did they subsidize but they manipulated the currency, had no protection for the environment and used child and slave labor. In response Trump put import taxes on Chinese goods. Biden followed up with a 100% tariff on EV's, a 50% tariff on solar products and a 25% tariff on steel and aluminum. Europe is now considering a tax on Chinese EV's. This may not be necessary as EV's are not selling. This has come as a surprise to auto makers but they should have known these cars would not be popular. It was well known that the charging time was too long, the range too short and the infrastructure was not set up to charge. The price is not the reason why EV's are not selling.