The Biden Bombshell: 3 EV Stocks on the Chopping Block Due to China Tariffs
SQBLOCK(SQ) investorplace.com·2024-05-21 18:10

Did President Biden just kill the electric vehicle industry? By enacting protectionist trade tariffs on Chinese- made EVs in a bid to boost domestic carmakers, the president may have signed the industry’s death warrant. He certainly put EV stocks at risk. Biden is quadrupling the tariffs on Chinese EV imports from 25% to 100%, supposedly to protect the U.S. EV industry “from unfairly priced Chinese imports.” Cut through the word salad the president offered in defense of his actions, and it means U.S. consum ...