Yellen says US moving to ensure domestic EV maker success despite China's exports
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U.S. Treasury Secretary Janet Yellen stated that the Biden administration is taking steps to ensure the success of the domestic electric vehicle (EV) industry in the face of China's growing exports and heavy government subsidies. Yellen mentioned that President Biden has made a commitment to support the domestic industry. Currently, U.S. tariffs of 25% on all Chinese vehicles imposed by former President Donald Trump effectively keep Chinese EVs out of the U.S. market. However, China's largest producer, BYD, has started exporting to Mexico and is exploring locations for a Mexican factory.

#JanetYellen #JoeBiden #ElectricVehicles #China #Tariffs #Byd #Mexico

https://www.investing.com/news/economy/yellen-says-us-moving-to-ensure-domestic-ev-maker-success-despite-chinas-exports-3336787