America’s 100% tariffs on Chinese EVs: bad policy, worse leadership
The global trade system is disintegrating as you read this
Although it is unfashionable to say so these days, one of the great accomplishments of the past half-century was the remarkable decrease in global tariffs. This reduction, from average levies on imports of more than 10% in the 1970s to 3% today, helped fuel a boom in international commerce and a near-tripling in global GDP per person. The more that countries opened up, the more they flourished. So it is deeply regrettable that President Joe Biden has decided to impose tariffs of 100% on electric vehicles (EVs) made in China.
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This article appeared in the Leaders section of the print edition under the headline “Biden’s baleful barriers”
Leaders May 18th 2024
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- Canada’s law to help news outlets is harming them instead
- America’s 100% tariffs on Chinese EVs: bad policy, worse leadership
- Xi Jinping is subtler than Vladimir Putin—yet equally disruptive
- Big tech’s capex splurge may be irrationally exuberant
- Volodymyr Zelensky’s presidential term expires on May 20th
From the May 18th 2024 edition
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