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bloomberg | Global Food Roundup: Fears over Higher Prices and Unfair Trade, 10 May illustrated
...Bad weather and war are threatening to keep the world's wheat supplies under strain. Bumper Black Sea harvests have long kept a lid on prices and wheat is trading at half its record set in 2022, but futures have rebounded to hit the highest since August and funds are trimming bearish bets that they've held for almost two years....
ibid worldbank corn, wheat prices
ChatGPT | US plans to impose major new tariffs on EVs, other Chinese green energy imports, 10 May "competition"
Tariffs on electric vehicles, in particular, could quadruple—from the existing 25% to 100%. The plan was described by the people on condition of anonymity because they were not authorized to provide details ahead of a formal announcement. The tariffs, expected to be announced Tuesday [14 May], come as officials across the Democratic administration have expressed frustration over China's manufacturing "overcapacity" of EVs and other products that they say pose a threat to U.S. jobs and national security.
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yahoo! bloomberg | China's EV Exports to EU Slump at Start of Year Amid Probe (26.03.24)
Tuesday's announcement is expected to keep in place some tariffs that were imposed during Trump's administration, covering about $360 billion in Chinese goods. The new tax on imports would add products such as Chinese syringes and solar equipment.
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archive Jan 11th 2020

reuters | Biden set to impose tariffs on China strategic sectors, source says, 10 May

Details on the precise value or categories of tariffs that would be imposed were sketchy, but the administration was said to have zeroed in on areas of interest within strategic competitive and national security areas, the person said.
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In 2022, Biden launched a review of the Trump-era policy under Section 301 of the U.S. trade law. Last month, he called for sharply higher U.S. tariffs on Chinese metal products. The Biden administration has also been pressuring neighboring Mexico to prohibit China from selling its metal products to the United States indirectly from there.
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"retaliation"
GT | Even higher tariffs cannot protect the US automotive industry, 12 May
The White House declined to comment. The US side is currently reviewing the tariffs on Chinese goods imposed during the Donald Trump era. Chinese new energy products represented by EVs have garnered particular attention. However, it's generally believed that considering the "almost zero" number of EVs exported from China to the US, even if the new tariffs are implemented, they are unlikely to immediately impact Chinese electric car companies. What the US will do next matters more about a portrayal of its own national reputation.
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Some analysts believe that in addition to domestic political considerations, if the US really imposes high tariffs, it also intends to put pressure on the EU at this moment. Some former US government officials also stated that they want to involve developing countries such as Brazil and India with the US to do so.
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scmp | China's EV makers, unfazed by US, European export curbs, will push overseas vehicle shipments to new heights (06.05.24)
Looking at it from a different perspective, can high tariffs and trade barriers really protect the US automotive industry? The US steel industry is a case in point. As early as 2017, when the US issued anti-dumping and countervailing duty orders on imports of stainless steel sheet and strip from China, the Global Times pointed out in an article that China's steel exports to the US are insignificant, and the root of the US steel industry's problems lies not in so-called "unfair competition" or lack of sufficient protection, but in its long-standing monopoly position and lack of emphasis on relying on technological progress to improve production efficiency.
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archive Laggards in Electric Vehicles
by Cat on Sun May 12th, 2024 at 10:51:09 PM EST
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