The Latest US Tariffs on Chinese GoodsTariffs Targeting China Announced by the Biden Administration The Biden administration has announced an increase in tariffs on USD 18 billion worth of Chinese imports. This action is part of a broader strategy to protect American industries and workers.Tariff Increases Range from 25% to 100% The new tariffs, ranging from 25% to 100%, target key industries and aim to shield American businesses from cheaper Chinese alternatives: Steel and Aluminum: The tariff rate on certain steel and aluminum products will increase to 25% in 2024. This measure is designed to support the US steel industry, …
Navigating the EV Market Shift in China
China’s Unrivaled Position in the EV LandscapeThe electric vehicle (EV) market in China continues to redefine the automotive industry’s future. In 2023, China solidified its position as a global leader by accounting for nearly 60% of worldwide EV sales (measured in car registrations), a significant indicator of its growing dominance, according to data from the International Energy Agency’s (IEA) Global EV Outlook 2024, a Paris-based autonomous intergovernmental organization. This trend is not just a fleeting phase but a clear signal of the shifting dynamics in the global car market, with projections showing that one in three cars in China will …
Aftermath of the EV hype – permanent dip, small dent, or no crisis at all?
Aftermath of the EV hype – permanent dip, small dent, or no crisis at all?The hype surrounding electric vehicles (EVs) in recent years has been undeniable, driven by a combination of environmental consciousness, government incentives, and technological advancements. However, as the dust settles, questions arise about the sustainability of this growth momentum and the long-term viability of the EV market.The surge in demand for EVs, accelerated during the COVID-19 pandemic, painted a rosy picture of exponential growth and high expectations. Ambitious targets, such as Germany’s aim to have 15 million EVs on the road by 2030, fueled optimism for a …