Why EV Tariffs Won't Stop Chinese Cars

Today, China has the manufacturing capacity to supply half the world's cars. And it has its eyes on the United States. While there are already Chinese-owned brands available in the states, including Volvo, Polestar and Lotus, no true Chinese brands have arrived in the U.S. as of yet. Insiders say it's only a matter of time though. President Biden slapped Chinese automakers with stiff tariffs - effectively doubling the price of an imported EV May 2024. However, some insiders say tariffs may not be that effective in the long run, and may even do more harm than good. Chapters: 0:00 - 01:45 Introduction - Why EV tariffs won't stop Chinese cars 01:53 Chapter 1- World’s biggest producer - 05:21 Chapter 2 - Tariffs 08:44 Chapter 3 - Alternatives Producer: Robert Ferris Editor: Darren Geeter Animation: Christina Locopo, Jason Reginato Senior Managing Producer: Tala Hadavi Additional footage: Getty Images, BYD, Polestar, Volvo, Geely, Tesla, Toyota, Honda » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024: https://cnb.cx/4aryNgM Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC Why EV Tariffs Won't Stop Chinese Cars