US President proposes 25% tariff on e-bikes from China
US President Donald Trump has proposed a new tariff plan which will result in a substantial increase in the cost of electric bicycles (e-bikes) from China. The move marks the latest salvo by the Trump Administration against China. Chinese e-bikes have been flooding the U.S markets and they have strong demand due to their low price.
According to the new tariff plan proposed by Trump, a 25% tariff will be imposed on the e-bikes imported from China. The new tax will apparently increase the cost of China-manufactured e-bikes by several hundred dollars, given the fact that most of these e-bikes come with a price tag of more than $2,000.
The 25% tariff on e-bikes from China will not only increase the cost of the Chinese e-bikes imported into the US, but will also hit US e-bike companies that design, promote and sell their e-bikes in the domestic market but manufacture them in China.
As such, the e-bike companies which will be affected by the 25% tariff will even include US e-bike retailer Pedego, because it carries out its manufacturing operations in China. According to Pedego CEO Don DiCostanzo, the new tariff proposed by the Trump Administration would have a significant impact on the company’s operations.
Meanwhile, besides Pedego, some of the other e-bike companies which will be affected by the 25% tariff on e-bikes from China include Trek, Giant and Raleigh Electric.
- 3964 reads
Related Articles
Popular Stories
Japanese electronics giant Panasonic has recently disclosed it is planning a 30 percent increase in the production of battery cells at Tesla Gigafactory 1 by the end of year 2018.
In response to an apparent suggestion in recently leaked reports that a wider ban on sales of non-electric cars is being proposed in the UK, environmentalists have said that the proposed ban is ‘not ambitious enough.’
In a recent clarification of its plans related to electrified vehicles, Volvo Cars has announced that it is aiming for 50% of its sales to be ‘fully electric’ by the year 2025.
In a recent press release, German automaker Mercedes-Benz has shared interesting information about the latest developments in the test program for the newest all-electric ‘EQC’ SUV prototypes.
At the Goodwood Festival of Speed event in the UK this week, Swedish technology start-up Einride has unveiled an all-electric and autonomous logging truck called The T-Log.
In a recent press release, Japanese automaker Nissan has announced that its next-generation LEAF has become the best-selling electric vehicle (EV) in Europe. The next-gen LEAF is the new LEAF model which first hit the markets in October 2017.
