The United States ends its preferential policy for electric vehicles and plans to increase tariffs on China

The Trump administration has already announced the end of the electric vehicle preferential policy introduced by the previous administration. The policy allowed American consumers to receive a $7,500 tax credit when purchasing electric vehicles. In addition, President Joe Biden plans to impose tariffs of up to 100% on China's strategic sectors, including electric vehicles, in May 2024, a significant increase from the previous 25%.