2024-05-14 01:05:05
[美中 첫 AI 회담]
“Thanks to the increase in exports, vehicle production also increased by 7.5%.
“Korea will also be hit hard by tariffs on automobile parts.”
It is predicted that the ultra-strong tariffs that the United States will impose on key strategic areas such as Chinese electric vehicles and batteries as early as the 14th (local time) will be good news for Korean automobile exports. However, it is highly likely that tariffs on Chinese electric vehicle parts will lead to increased manufacturing costs and harm the Korean electric vehicle market.
In the report ‘The Impact of Trade Policy Shifts on the Electric Vehicle Market’ released earlier this month, the U.S. International Trade Commission (USITC) stated, “If many countries around the world, starting with the United States, raise tariffs on Chinese electric vehicles, Korea will see a significant increase in automobile exports, thereby benefiting Korea.” “It is expected that we will enjoy this.”
According to the USITC report, it was estimated that if the United States raises tariffs on Chinese electric vehicles and the European Union (EU) and Asian countries follow suit and increase their average tariffs by 20%, China‘s electric vehicle exports will decrease by about 60%. This could lead to a 13.6% increase in U.S. electric and hybrid vehicle exports. Korea (10.0%), EU (7.8%), and Japan (4.6%) are also expected to benefit. Due to the increase in exports, automobile production also increases in Korea (7.5%), the United States (6.5%), the EU (7.8%), and Japan (4.6%).
On the other hand, tariffs on electric vehicle parts may actually be advantageous to Chinese electric vehicle manufacturers. This is because countries that import Chinese parts have no choice but to raise the prices of finished vehicles due to increased manufacturing costs, and the price competitiveness of Chinese manufacturers increases. It was estimated that if the United States and other countries raise tariffs by 20% on Chinese electric vehicle parts, Korean electric vehicle production would decrease by 4.1%.
On the 10th, the Wall Street Journal (WSJ) and others reported, “The U.S. government plans to quadruple tariffs on Chinese electric vehicles from 25% to 100%.” If this continues, a tariff of 102.5% will be applied to Chinese electric vehicles, including the existing 2.5% tariff on imported cars in the United States.
New York = Correspondent Kim Hyun-soo [email protected]
-
- great
- 0dog
-
- I’m so sad
- 0dog
-
- I’m angry
- 0dog
-
- I recommend it
- dog
Hot news now
2024-05-14 01:05:05