ACN Business

History says tariffs rarely work, but Biden’s 100% tariffs on Chinese EVs could defy the trend

Written by Tinglong Dai, Bernard T. Ferrari Professor of Business, Johns Hopkins University

Hundreds of BYD vehicles wait at a port in Suzhou, China, to ship out.AFP via Getty Images

In June 2019, then-presidential candidate Joe Biden tweeted: “Trump doesn’t get the basics. He thinks his tariffs are being paid by China. Any freshman econ student could tell you that the American people are paying his tariffs.”

Fast-forward...

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