Last year, China’s automobile exports crossed two million levels (from 3 million to 5 million), ranking first in the world for the first time, reaching 5.221 million, an increase of 57.4% year-on-year. Among them, new energy vehicles, as an important growth pole, will reach 1.773 million in exports in 2023, an increase of 67.1% year-on-year.

With the sharp increase in export volume, Europe and the United States began to spread the “China electric vehicle threat theory” and wielded the “tariff stick”.

On May 14, the White House announced additional tariffs on a series of Chinese solar cells, electric vehicles, computer chips and medical products. Among them, the tariff on electric vehicles imported from China will be increased from 25% to 100% from August 1. In addition, the tariff rate on electric vehicle lithium batteries will be increased from 7.5% to 25%, and the tariff rate on battery parts will be increased from 7.5% to 25%.

However, the proportion of Chinese electric vehicles exported to the US market is not large at present. In 2023, the number of pure electric passenger cars exported to the US by China will be 12,400, accounting for less than 1% of the total export volume and value to the US. Therefore, the US move is more of a “big thunder and little rain”.

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