On April 8th, the US government confirmed that it will impose a 25% tariff on all cars and trucks produced in whole or in part outside the United States, which will take effect on April 3rd. In addition, import tariffs on automotive parts produced outside the United States will begin to be imposed on May 3rd of this year. However, the current imposition of automobile tariffs by the United States has limited impact on China’s automobile exports. Public data shows that in 2024, only 116000 cars will be exported from China to the United States, accounting for 1.81% of China’s total car exports. Huatai Securities analyzed that the 25% automobile tariff has a relatively small negative impact on domestic direct exports, mainly affecting the expected revenue and profits of top car companies in countries such as Japan, South Korea, and Germany. Chinese car companies may gain more growth in regions such as the European Union and Southeast Asia. Cui Dongshu, Secretary General of the National Passenger Car Market Information Joint Committee, believes that the proportion of Chinese car exports to the United States is extremely small, especially since domestic brands have not been sold in the United States. Therefore, Chinese domestic cars are not affected by the tariffs imposed by the United States.
Scan code to share