While the availability of cheap electric vehicles is good news for the planet and for consumers everywhere, it is bad news for shareholders and employees of Western car companies, and both the United States and Europe are considering imposing import tariffs on Chinese EVs. But tariffs are the wrong approach.
NEW YORK – US Treasury Secretary Janet Yellen’s nearly weeklong visit to China, now underway, will most likely focus on US concerns about Chinese subsidies to producers of electric vehicles and other clean-tech goods. While the availability of cheap EVs is good news for the planet and for consumers everywhere, it is bad news for shareholders and employees of Western car companies, and both the United States and the European Union are considering imposing import tariffs on Chinese EVs. But tariffs are the wrong approach.
NEW YORK – US Treasury Secretary Janet Yellen’s nearly weeklong visit to China, now underway, will most likely focus on US concerns about Chinese subsidies to producers of electric vehicles and other clean-tech goods. While the availability of cheap EVs is good news for the planet and for consumers everywhere, it is bad news for shareholders and employees of Western car companies, and both the United States and the European Union are considering imposing import tariffs on Chinese EVs. But tariffs are the wrong approach.