this post was submitted on 05 Aug 2024
59 points (100.0% liked)

World News

39023 readers
2427 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
 

Tariffs could come into force in November after a vote in late October.

EU capitals are prepared to back the introduction of tariffs on Chinese electric vehicles, Valdis Dombrovskis, the European commissioner for trade, told the Financial Times.

Although the move sparked anger in Beijing, supporters of the levy claim it is essential to protect EU manufacturers against unfair competition.

A probe launched last year by the European Commission determined that Chinese subsidies were allowing firms to keep their prices artificially low.

all 10 comments
sorted by: hot top controversial new old
[–] Waveform@lemmy.world 10 points 3 months ago* (last edited 3 months ago) (2 children)

Is anything stopping western nations from subsidizing their own EV industries to the same degree China purportedly does?

[–] cecinestpasunbot@lemmy.ml 3 points 3 months ago (1 children)

I think there are a few obstacles to that actually.

The first is that the global financial system is structured in a way that artificially inflates the value of the Dollar and the Euro. This is great for western capital. However, it also means that domestic labor is more expensive than foreign labor which makes onshore manufacturing unprofitable.

The second problem is that western subsidies rarely hold companies to account. The US tried to onshore semiconductor manufacturing through the CHIPS act in explicit attempt to compete with China. Only a few years later and big recipients of those subsidies are already giving up. Intel is laying if 15k employees and TSMC is delaying and scaling back their plans for a fab in Arizona. Given how much influence over politics capital owners have in western countries, I don’t see this changing anytime soon.

Lastly, I forgot to mention but the artificial inflation of western currencies is in part maintained by their control and influence over the energy trade. Any of course by energy I mean fossil fuels. As such, if the west were to enable a global green energy transition they would be shooting themselves in the foot so to speak. This is likely part of the reason why China is investing so much in renewables. Energy independence will benefit them greatly as they won’t have to depend on an energy market dominated by western powers.

[–] Waveform@lemmy.world 1 points 3 months ago

Thanks for the detailed info. It would be awesome if the CEOs and shareholders took a pay hit, so they could keep work here and pay them more to boot. (I haven't run any numbers to see if it would even make a big enough difference.)

I didn't know the CHIPS act was having trouble. Last new I heard was that US workers supposedly didn't have sufficient work ethic, or something. Iirc, it sounded like they didn't want to be worked to death...

[–] TokenBoomer@lemmy.world 3 points 3 months ago

Bribes from auto companies?

[–] VirtualOdour@sh.itjust.works 5 points 3 months ago (1 children)

Once again climate change is only important when it benefits the rich and powerful, if they can't make a profit they'll block cheap EVs just like they block home solar where they can and a thousand other things that could make the average persons life better and help the environment

[–] Badeendje@lemmy.world 6 points 3 months ago (1 children)

This is not why and you know it.

[–] BassTurd@lemmy.world -3 points 3 months ago

It's not why, but I don't know that they know it.

[–] highduc@lemmy.ml 1 points 3 months ago

The german car industry was busy lying about emissions instead of working on EVs and now they're salty China can build better and cheaper than Europe...

And ofc consumers have to pay for corporate greed. No cheap EVs for us. We will pay more for inferior products.

I'm european, but in the face of such greed, stupidity, and hypocrisy, I can only hope China will retaliate with their own tarrifs.

[–] MediaBiasFactChecker@lemmy.world -3 points 3 months ago

Euronews - News Source Context (Click to view Full Report)Information for Euronews:

MBFC: Left-Center - Credibility: High - Factual Reporting: High - France
Wikipedia about this source

Search topics on Ground.Newshttps://www.euronews.com/business/2024/08/05/eu-states-set-to-back-tariffs-on-chinese-evs-says-trade-chief
Media Bias Fact Check | bot support