As Trump talks tariffs, his Argentine ally welcomes a shipload of Chinese EVs for the first time [Yahoo! Finance Canada]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Yahoo! Finance Canada
In other places, such a scene would not be noteworthy. Chinese automaker BYD has sped up its exports and undercut rivals the world over, alarming Washington, upsetting Western and Japanese auto giants, and unnerving local industries across Southeast Asia, Africa and Latin America. But the sight of so many new Chinese EVs gliding onto a muddy river bank in Buenos Aires province was unprecedented for Argentina. “This milestone reflects a long-term vision in Argentina — to invest, to steadily expand our dealer network across the entire national territory,” said Stephen Deng, the country manager for BYD in Argentina. The giant BYD logo gracing the ship's hull and each car window sent shockwaves through this crisis-stricken economy run for decades by the left-wing populist movement of Peronism that protected local industry with stiff tariffs and import restrictions “For decades people in Argentina had this vision that everything here must be manufactured here," said Claudio Damian
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