Administration officials are planning to make the announcement Tuesday (5/14/2024), though the timing could change.
Biden to raise tariffs on Chinese EVs from 25% to 100% next week
byu/TONYdaTIEGAH inwallstreetbets
Posted by TONYdaTIEGAH
Administration officials are planning to make the announcement Tuesday (5/14/2024), though the timing could change.
Biden to raise tariffs on Chinese EVs from 25% to 100% next week
byu/TONYdaTIEGAH inwallstreetbets
Posted by TONYdaTIEGAH
29 Comments
Let them walk.
So china will counter by raising tariffs on American EV’s?
why? i thought EV were good for earth and we wanted to save earth?
Anybody who didnt see this coming has no business anywhere near stocks.
I guess that explains why WSB was collectively shitting its pants for months saying china was going to wipe out tesla.
Tariffs, sanctions, and bans are not long term solutions. I wish the US government would realize that.
What about American EVs with 100% Chinese components?
The world will be driving BYD EVs sans America then
“China, why can’t you be free market capitalists?”
“… Not like that.”
So Biden is taxing non-existent importation of Chinese EVs? That makes sense.
They just don’t want poors to get cheap EVs. Imagine being a 99%er and voting for Brandon 
Can we even buy chinese EV in US?
It was 27.5% and no Chinese companies were willing to sell on this market, moving it to 100% changes nothing.
Why should the consumer suffer .
Let us buy Chinese .
Bullish on Toyota. They will continue to milk the masses with their hybrids and plugins.
Clown shit from the U.S. showing how when government policy is influenced by corporate interests, the country is unable to enact a competent plan for the long term.
Look at the gdp/capita of China back when solar panels and EVs were being fucking invented in the West. Now they’ve leapfrogged the West in production capacity to address the supposedly catastrophic climate crisis we’re facing, and even the supposedly climate friendly U.S. political party is going to stall EV adoption to protect US corporations again. CLOWN SHIT.
But I digress, TSLA calls I guess
That’s why China is building factories and producing them in Mexico for the made in Mexico sticker to get past the current tariffs.
Dang. He just pulled a Trump!
When you get endorsed by United Auto Workers, you show them a little love.
Hey wasn’t Trump saying to do this??
All these sanctions, tariffs and protectionism will come back to bite us hard in the ass pretty soon.
Then it’s a good time to buy more BYDDF stock…if the U.S. is that concerned, that means the Chinese are making EVs so cheap they will destroy U.S. EV manufacturers but more importantly they have the quality to not destroy themselves and build a customer base.
The rest of the world will be buying them.
I don’t understand why everyone is looking at the headline “U.S. to Announce New Tariffs on Chinese Electric Vehicles” and the takeaway is that you should be buying TSLA? No. Who has actually seen a Chinese EV in the United States? Exactly. They do not exist. So the headline of 100% tariffs on EVs from China is absolutely meaningless. The real substance to these tariffs are the things the United States actually imports. So if domestic EV makers really aren’t being hurt by Chinese imports then who are?
So let’s look and see who actually stands to benefit from this? Looking back, Biden in 2022 introduced the Inflation Reduction Act (IRA) and one key part of that was tax credits for domestically manufactured solar panels. These credits which are called 45X tax credits [1] provide credits for clean energy components domestically produced. So this on paper seems like a boom for domestic solar manufactures.
Now, let’s talk tariffs. As we all know Trump loved his Chinese tariffs which included solar panels in 2018, and Biden after taking office decided to extend them in 2022. However, as part of that extension Biden also provided an exemption for Bifacial Solar Panels, which at that time only accounted for a small percentage of the imported solar panels to the United States. Fast forward two years and bifacial solar panels account for 97% of imported solar panels. So today we have 14.25% tariffs on solar panels and 0% on bifacial solar panels due to the exemption. Well again 97% of the imports are bifacial (see Reuters link dated Apr 25 below). So if solar companies can get additional tariffs and new tariffs for bifacial panels they stand to print money hand over fist, they become a monopoly effectively. In 2024 First Solar will receive over a billion dollars in cash from the US government for simply running their business [4].
So what was the catalyst for this change? Well the First Solar (FSLR) CEO Mark Widmar. Mark has been lobbying congress and the Biden administration for nearly two years for these tariffs. And I can assure you Tuesday is going to be a celebratory day for Mr. Widmar. As recently as Mar 12th 2024, Mark Widmar CEO of First Solar gave testimony before congress [2]. As a result of this there was a bipartisan push for additional solar tarrifs, on January 30th senators Ossof, Brown, Rubio, and Warnock urged the Biden administration to increase solar tarrifs [3]. Again this was drafted by both democrat and republican senators, so the likelihood of losing these tariffs if Trump came back is slim to none, especially when Trump has talked of even more aggressive tariffs.
Not to beat a dead horse but a simple google search will reveal how long First Solar (FSLR) has been pushing for this. So I think it’s pretty obvious that they are the ones who stand to benefit from this and not EV makers. So for every idiot you see mention TSLA or RIVN, ask them: How many Chinese EVs have you actually seen? And then maybe you will all see how congress makes money trading, they distract you with bullshit headlines meanwhile they trade the footnotes and make a killing.
Read these references and if you disagree…well then you my friend are a true regard.
Apr 25 2025
US solar panel makers seek import tariffs to protect new domestic factories
[https://www.reuters.com/business/energy/us-solar-panel-makers-seek-new-tariffs-protect-domestic-factories-2024-04-24/](https://www.reuters.com/business/energy/us-solar-panel-makers-seek-new-tariffs-protect-domestic-factories-2024-04-24/)
Apr 24 2024
Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations
[https://www.cnbc.com/2024/04/24/solar-manufacturers-petition-us-to-impose-tariffs-on-some-imports.html](https://www.cnbc.com/2024/04/24/solar-manufacturers-petition-us-to-impose-tariffs-on-some-imports.html)
Mar 5 2024
First Solar CEO says tariff exemptions threaten U.S. efforts to ramp up domestic solar manufacturing
[https://www.cnbc.com/2024/03/05/first-solar-ceo-says-tariff-exemptions-threaten-us-efforts-to-ramp-up-manufacturing.html](https://www.cnbc.com/2024/03/05/first-solar-ceo-says-tariff-exemptions-threaten-us-efforts-to-ramp-up-manufacturing.html)
Feb 6 2024
US Solar Manufacturing Climbed During Tariffs, Trade Panel Finds
[https://www.bloomberg.com/news/articles/2024-02-06/us-solar-manufacturing-climbed-amid-tariffs-trade-panel-finds](https://www.bloomberg.com/news/articles/2024-02-06/us-solar-manufacturing-climbed-amid-tariffs-trade-panel-finds)
Sep 20 2023
First Solar Urges US to Get Tough on Trade as Module Prices Sin
[https://www.bloomberg.com/news/articles/2023-09-21/first-solar-urges-us-to-get-tough-on-trade-as-module-prices-sink](https://www.bloomberg.com/news/articles/2023-09-21/first-solar-urges-us-to-get-tough-on-trade-as-module-prices-sink)
1. IRA 45X Tax Credits: [https://www.energy.gov/eere/solar/federal-tax-credits-solar-manufacturers](https://www.energy.gov/eere/solar/federal-tax-credits-solar-manufacturers)
2. Mark Widmar First Solar CEO Testimony: [https://www.finance.senate.gov/download/03122024-widmar-testimony](https://www.finance.senate.gov/download/03122024-widmar-testimony)
3. Senate Solar Tariff Memo: [https://www.ossoff.senate.gov/press-releases/sens-ossoff-brown-rubio-rev-warnock-urge-increased-tariffs-on-imported-chinese-solar-products/](https://www.ossoff.senate.gov/press-releases/sens-ossoff-brown-rubio-rev-warnock-urge-increased-tariffs-on-imported-chinese-solar-products/)
4. [https://finance.yahoo.com/news/first-solar-inc-announces-first-200200221.html](https://finance.yahoo.com/news/first-solar-inc-announces-first-200200221.html)
Positions: 05/17/24 205C , 06/14/24 220C
When Trump raised Chinese tariffs everyone went crazy. Now they’re acting like it’s just normal business.
Americans are biased as fuck.
Where is the outrage from CNN and MSNBC about xenophobia?
Seems like a pretty Trumpian move, I’m not sure I agree with it. This is great news for US EV companies and basically a big fuck you to US consumers.
American EVs are expensive. Chinese EVs are cheap because Chinese government is subsidizing production. So, the US government’s solution is to artificially inflate Chinese EV prices?
An $8,000 Chinese EV would have put pressure on American companies to produce cheaper EVs.
US consumers are complaining about high prices, and you go and double the price of the cheapest EVs. Stupid.
Why not subsidize American EVs and make American EVs cheaper?
Biden in 2021: with the inflation reduction act, I will save the economy and fight climate change at the same time
Biden today: Fuck this shits hard. Nobody really cares about the rainforest and shit right? I’m gonna focus on the economy, let Mother Earth figure her own shit out
I love how rather than encourage American companies to lower prices and be more competitive, he just bans the competition.
LoL
What ever happened to free trade
Globalization…
And what not
“free market”