The real-world results of tariffs are starting to show. In this case, Automotive Energy Supply Corp (AESC) built a factory to supply BMW with EV batteries. According to the Wall Street Journal, AESC “would face a substantial tariff bill if it were to import the necessary machinery from China” to finish the factory and start production. On top of that, the separate tariffs on steel and aluminum could become cost-prohibitive, further hurting the company. According to a memo to employees seen by the WSJ, work has paused due to “economic uncertainty arising from current federal policy and tax issues.”
