A senior executive at one of China’s biggest privately owned carmakers has said overcapacity in the Chinese car industry is a “fake concept”, joining a chorus of officials and state media hitting back at western criticism of Beijing’s industrial policy.
The Biden administration on Tuesday is expected to announce plans to raise tariffs on Chinese electric vehicle imports from 25 per cent to 100 per cent, along with other new tariffs on clean energy imports.
The announcement comes six months out from the US presidential elections in November and with Biden under pressure over protecting US jobs and managing the world’s biggest economy.
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