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Ford cancels EV battery orders as losses widen to $130,000 per vehicle sold
(www.notebookcheck.net)
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this post was submitted on 13 May 2024
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Somewhat Ironically, the tariff increase against Chinese cars is mostly for political show. There are virtually no Chinese cars being sold in the US, and those that are sold are not chinese brands but American brands (e.g. Buick, Lincoln) manufactured in China. The reason there are no Chinese brands on the market is that the existing 25% tariff is already enough to make it very unattractive.
However Biden is hoping to win the support of United Auto Workers and the like, who are all afraid of losing their jobs to Chinese workers getting paid a tenth of what they make or w/e. Trump has been using the same talking points, suggesting tariffs on Chinese cars built in Mexico (I don't think that's a real thing at this point, just something that could happen). It's all political theater.