Impact of BYD's $12,000 Electric Vehicle on the U.S. Auto Industry
BYD, a Chinese automaker, is selling a $12,000 Electric Vehicle that could potentially disrupt the U.S. auto industry. Former President Trump had imposed tariffs on China-made cars to prevent their influx into the U.S. market. President Biden has increased tariffs on China-made EVs, but BYD's plan to produce cars in Mexico might allow them to bypass these tariffs.