Prices of EVs, wind turbines, and semiconductors to rise

Prices of electric vehicles (EVs), wind turbines, and semiconductor parts are expected to rise following the fresh trade escalation between the United States and China, according to a report by the Global Trade Research Initiative (GTRI).

- CORRESPONDENT

The United States has announced an additional 100% tariff on Chinese goods, effective November 1, 2025, which will raise the overall tariff rate on Chinese imports to approximately 130%.

The announcement, made by President Donald Trump on October 10, through a Truth Social post, marks the sharpest escalation in US-China trade tensions since the original tariff war began in 2018.

GTRI stated “The impact will be felt quickly. Prices of EVs, wind turbines, and semiconductor parts are expected to rise, while the U.S. will try to “friend-shore” its mineral supply chains to Australia, Vietnam, and Canada. China, meanwhile, is likely to redirect supplies toward its non-Western partners to strengthen alternative industrial networks”.