Hyundai CEO Warns Chinese Cars Could Flood U.S. Without Tariffs

GeopoliticsIndustry
โดย Seeking Alpha·US·Read original
Summary · why it matters

Hyundai CEO Jose Munoz warned that Chinese vehicles could flood the U.S. market, as they did in Europe, unless Washington maintains tariffs and other trade safeguards, Reuters reported. Munoz noted that Chinese vehicles are 30%-40% cheaper than rival models in some markets including Italy, Spain and France, even with EU trade barriers such as tariffs and minimum pricing commitments in place. He said the UK, which left the EU in 2020 and has no similar tariffs on Chinese cars, now counts all of its top car sellers as Chinese, and warned similar things could happen in the U.S. at different levels unless certain conditions are met. The U.S. has effectively blocked Chinese electric vehicle imports with tariffs of about 100%, though President Donald Trump recently said he would be open to Chinese automakers manufacturing in the U.S. as long as they employ Americans. Munoz's remarks echoed Ford CEO Jim Farley, who told staff in July that the company was bracing for Chinese automakers to enter the U.S. within the next 5-10 years.

Impact on stocks 2

Electrification & Mobility▲ · 2 stocks
Hyundai Motor Co. Ltd.
005380
▲ PositiveTariffrelevance

Hyundai CEO Jose Munoz warns Chinese vehicles could flood the U.S. unless Washington maintains tariffs and trade safeguards, which would protect Hyundai from cheap Chinese competition.

Ford Motor Company
F
± MixedCompetitionrelevance

Ford CEO Jim Farley is cited as echoing the warning that Chinese automakers could enter the U.S. within 5-10 years, a competitive threat but only a passing mention.

Theme Impact 2

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