Biden’s Clean Energy Strategy: Potential 100% Tariffs on China’s EVs Impacting Crypto Market (BTC & ETH)

  • President Biden is set to increase tariffs on electric vehicles and other clean-energy goods from China, aiming to protect the U.S. economy from low-priced competition.
  • The new trade policy includes a hike in tariffs on Chinese EVs to 100%, up from the current 25%, which has already kept these vehicles out of the U.S. market.
  • Despite U.S. tariffs, China’s exports have surged, with critics attributing low prices to government backing and deflation.

President Biden is set to hike tariffs on Chinese electric vehicles and clean-energy goods, aiming to protect the U.S. economy from low-priced competition. This move could have significant implications for the global clean-energy sector.

Biden’s New Trade Policy

According to the Wall Street Journal, President Biden’s administration will announce the new tariffs on Tuesday. This comes after a review of China tariffs imposed by former President Donald Trump. The new trade policy is expected to include tariffs on Chinese EVs hiked to 100%, up from 25%. The current 25% tariff on China-made EVs has helped keep the vehicles from the U.S. market. Under these protections, Tesla dominates EV market share, even as EV programs from General Motors and Ford have struggled to gain traction.

Impact on China’s Economy and Exports

Despite tariffs in the U.S., China’s exports have surged recently. Critics in the U.S. and Europe blame government backing and swelling capacity for the low prices of goods. But deflation has also played a key role, unwinding the value of the yuan vs. the dollar. As of early May, China’s real effective exchange rate had erased a decade of progress, according to the Wall Street Journal, rewinding to 2014 levels. This weakness in the yuan gives China-made goods a competitive edge over inflation-plagued regions, led by the U.S. It also makes goods imported into China comparatively expensive, driving down China’s demand for imports. The combination has ramped the U.S./China trade imbalance higher.

Implications for Jobs and Clean-Energy Stocks

In 2019, the Solar Energy Industries Association claimed more than 62,000 jobs and around $19 billion in new private sector investment had been lost due to tariffs imposed in 2018 by the Trump administration against solar imports — primarily from China. Meanwhile, the Tax Foundation estimates that the Biden-Trump tariffs currently in place will reduce long-run gross domestic product by 0.21%, wages by 0.14% and employment by 166,000 full-time equivalent jobs. However, the Energy-Solar industry group has climbed more than 150% since tariffs were imposed in 2018.


The new tariffs set to be imposed by President Biden could have significant implications for the global clean-energy sector. While they aim to protect the U.S. economy from low-priced competition, they could also impact jobs and investments in the sector. As the situation unfolds, it will be crucial to monitor the effects on both the U.S. and Chinese economies.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Latest News

PEPE Coin ($PEPE) Skyrockets to Record Highs: What Investors Need to Know

The cryptocurrency market has seen notable fluctuations...

BounceBit (BBT) Price Skyrockets 40%: Is the Rally Here to Stay?

<ul> <li>BounceBit price surged over 40% today, capturing...

PRO Analysis

Dogecoin (DOGE) Address Profitability Soars to 83%: Key Insights and Analysis

Dogecoin (DOGE) might be experiencing an immediate price plunge,...

SHIB, DOGE, BONK, FLOKI Price Analysis for May 25: Key Insights and Trends for Top Meme Coins

<ul> <li>Meme coins are experiencing a rebound after...

Bitcoin (BTC) Price Analysis: Experts Predict Potential Downtrend – What’s Next for BTC?

<ul> <li>Bitcoin (BTC) has experienced a significant drop...

Bitcoin (BTC) Faces Resistance-Induced Pullback: Market Analysis and Future Projections

Bitcoin (BTC) recently touched the $72,000 resistance...
Gideon Wolf
Gideon Wolf
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.

Election Buzz Fuels Nifty 50 and Sensex (NSE, BSE) to Record 2-Week Gains in 5 Months

<ul> <li>The Nifty 50 and Sensex ended flat in the previous session but recorded their best week since early February.</li> ...

Foreign Portfolio Investors Offload ₹22,046 Crore in Indian Equities: Impact on Market and Future Trends

<ul> <li>Foreign portfolio investors (FPIs) have turned aggressive sellers in Indian markets ever since reducing their buying momentum with the onset...

Infosys (INFY), Havells (HAVELLS), and More to Trade Ex-Dividend Next Week: Complete List Inside

<ul> <li>Dividend stocks have been gaining attention as investors seek stable returns amidst market volatility.</li> <li>Many companies are increasing their dividend payouts,...