TESLA AND FARM EQUIPMENT FIRMS
Additionally, China announced 10 % tariffs on US land equipment that may affect companies like AGCO, Deere &, Co, and a few big-engine automobiles and cars coming into China from the US.
That may apply to Elon Musk’s Cybertruck, a market providing that Tesla has been promoting in China, as it awaits regulation clearance to start selling.
The Cybertruck was labeled as a “passenger automobile” by China’s Ministry of Industry and Information Technology in a December posting that was immediately deleted.
Tesla would be subject to a 10 % tax on any upcoming imports from its Texas factory if the Cybertruck was designated as an electrical vehicle. Tesla had no immediate reply.
The government announced that the new tariffs will launch effective on February 10.
Under former US president Joe Biden’s leadership, trade regulations between Beijing and Washington had been mostly limited to the technology sector, which sought to encroach on China’s access to high-end electronics.
China announced in December that it was looking into Nvidia over a alleged violation of the nation’s anti-monopoly laws. The research was widely seen as a retaliatory measure against Washington’s most recent restrictions on the Chinese chip industry.
A powerful Chinese business group called for a security assessment of Intel’s materials late last month.