The return of former US President Donald Trump to the White House in January 2025 could dampen the outlook for Chinese electric vehicle makers looking to penetrate the US market, the South China Morning Post reported Tuesday.
Chinese EV manufacturers are already having a hard time breaking through the US market even during the administration of President Joe Biden, the report said.
Trump earlier promised to increase tariffs on countries that have hurt US industries in a bid to protect local car manufacturers, the SCMP said.
The issue on China is something Democrats and Republicans agree on, the report said, citing Robert McNally, founder and president of consultancy Rapidan Energy Group.
To stave off the effects, Chinese electric car manufacturers could move operations to the US to circumvent tariffs, bite the bullet and just take the tariffs, divert to new markets, or even lobby to get tariff exemptions, the report said, citing Pareto Economics Chief Executive Officer Klisman Murati.
China's top new-energy vehicle include BYD (SHE:002594, HKG:1211), Li Auto (HKG:2015), XPeng (HKG:9868) and NIO (HKG:9866, SGX:NIO).
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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