Politics | Chinese EVs
Americans Can Save $11,000 by Buying Chinese EVs
Eliminating the tariffs will lower inflation, lift living standards, increase employment, and quickly transition America to a green economy. But misunderstandings, fear, and spite stand in the way
For most Americans, a car is their second biggest purchase (the first being a house). According to my back-of-the-envelope calculations, the average American would save $11,000 by buying a Chinese electric vehicle rather than an American-made one. This translates to households saving $2,000 annually (based on twelve-year ownership).
Protectionists, including Joe Biden and Donald Trump (competing for the presidency), American auto manufacturers and unions, and those generally swinging the axe at China, will do their utmost to stop or discourage Americans from making a choice that benefits them. The chief weapon is the 27.5% tariff and pressure to push it higher, making Chinese-made EVs in America either unavailable or artificially expensive. The current animosity towards China, championed by populist politicians in both parties, is the setting for the assault.
