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Treasury Secretary Janet Yellen said the U.S. would consider imposing tariffs and other trade barriers on China to protect industries impacted by Beijing’s ramped-up production. “We are trying to nurture an industry in, for example, solar cells, electric batteries, electric vehicles,” Yellen said Wednesday in Alaska during a stopover before going to China, according to…
Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5% this year from 5.1% in 2023, the World Bank said in a report released Monday. Debt, trade barriers and policy uncertainties are dulling the region’s economic dynamism and governments need to do more to address long-term problems such as weak social safety nets and underinvestment in education, the report says. “This report demonstrates the region is outperforming much of the rest of the world, but it’s underachieving its own potential,” Aaditya Mattoo, the World Bank’s chief economist for East Asia and the Pacific, said in an online briefing.
The poor, dim-witted French. They haven’t “learnt the lessons of Brexit” according to the EU’s former negotiator Michel Barnier. If, as seems likely, Marine Le Pen’s National Rally party comes out the big winner in June’s European Parliament elections, French voters will have shown nothing more that they don’t understand how serious Brexit was.
Elon Musk EV news: Tesla CEO Elon Musk, speaking on a post-earnings call on Wednesday, issued a stark warning about the rising threat Chinese automakers pose to the global electric vehicle (EV) industry. "They're extremely good," Elon Musk admitted, underscoring the seriousness of the challenge., Industry News, Times Now
Tesla CEO Elon Musk said on Wednesday Chinese automakers will "demolish" global rivals without trade barriers, underscoring the heat the U.S. electric vehicle market leader faces from the likes of BYD, who are racing to expand worldwide. Musk's comments come after Warren Buffett-backed BYD - with its cheaper models and a more varied lineup -overtook Tesla as the world's top-selling EV company last quarter, despite Tesla's deep price cuts through 2023. Chinese car companies were the "most competitive" and "will have significant success outside of China, depending on what kind of tariffs or trade barriers are established," Musk said on a post-earnings call with analysts on Wednesday.
Trade barriers can slow the world's energy transition but commerce also needs to be fair, International Energy Agency chief Fatih Birol said Wednesday, as world powers tussle over the technologies key to fighting climate change."Trade barriers can well be a factor slowing down the global clean energy transitions," Birol told AFP on the sidelines of the conference in the Swiss Alpine resort.