$25 billion so far
China is already a decade-or more-ahead on electrification. My BEV is a “first-gen” and conservatively gets 5km/kwh. That works out to about $0.001/km, $0.0016/mi.
For comparison, the CAFE standard of 34.5mpg (which I think Trump rolled back) e. GasBuddy says gas in USA is about $2.85/gallon which works out to $0.08 per mile, or $0.13/km.
(I feel like I dropped a decimal point there, check my math. )
The taxes don’t make up for that difference in efficiency. The market for American automakers is shrinking, and China is ready to meet international demand.
It’s an unpopular opinion, but the unions are not helping here; they’re happy to continue with the status quo but they should be focusing on getting their people re-skilled.