If that happens, expect automakers to tap the brakes on EV production. That will likely result in Detroit’s Big Three — Ford, General Motors, and Stellantis — becoming less competitive globally, as the rest of the world continues to innovate and produce more EVs. It could also open the door for foreign automakers to come in and snap up the market. Tariffs could deter countries like China from flooding the US with cheap EVs, but that could be short-lived if China keeps making cheaper and cheaper EVs.
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