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.
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