U.S. economists are sounding the alarm over new tariffs targeting Chinese imports, set to kick in September 27. The measures—including a 100% duty on electric vehicles (EVs) and 50% on solar cells—could hit wallets, slow green energy progress, and strain global trade ties. 🔌💸
‘Tariffs Hurt Everyone,’ Experts Say
Jason Oxman of the Information Technology Industries Council slammed the move, noting existing tariffs have already cost U.S. businesses and consumers $221 billion. ‘This isn’t strategy; it’s self-sabotage,’ he argued, highlighting risks to supply chains and economic stability. 📉
EVs, Solar, and a Green Tech Dilemma 🌱
Gary Hufbauer of the Peterson Institute warned the tariffs block Americans from affordable Chinese EVs, while analyst William Reinsch called them a roadblock to U.S. renewable goals. ‘Why tax the tech we need to fight climate change?’ he asked, pointing to contradictions in recent clean energy policies. 🌞🔋
Global Trade at a Crossroads 🌍
Columbia’s Jeffrey Sachs urged nations to reject protectionism, accusing the U.S. of ‘walking away from its responsibilities.’ Economists fear a domino effect: rising prices, slower decarbonization, and a fractured global market. 🛑🤝
Will these tariffs stall the green transition—or spark a trade war? Stay tuned. ⚡
