Elon's New Device Could Launch Biggest IPO of the Decade

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

EU countries vote to impose duties on China EVs ahead of an end-of-October deadline

LORNE COOK
October 04, 2024

BRUSSELS (AP) -- European Union countries on Friday voted to impose duties on imports of electric vehicles from China, as talks continued between Brussels and Beijing to find an amicable solution to their trade dispute before an end-of-October deadline.

Electric vehicles have become a major flash point in a broader trade dispute over the influence of Chinese government subsidies on European markets -- which has forced the undercutting of EU industry prices -- and Beijing's burgeoning exports of green technology to the bloc.

The European Commission, which manages trade on behalf of the 27 member countries, welcomed their majority approval of its plan to impose the duties, even though EU automotive powerhouse Germany and Hungary voted against it.

Those duties will come into force on Oct. 31 unless China has a solution to end the standoff.

Commission spokesman Olof Gill said that any solution proposed by Beijing would have to be fully compatible with World Trade Organization rules, remedy "the injurious subsidization" by China, and be "monitorable and enforceable."

Beijing opposes the duties. "China firmly opposes the EU's unfair, non-compliant and unreasonable protectionist practices in this case, and firmly opposes the EU's imposition of anti-subsidy duties on Chinese electric vehicles," a spokesperson at China's Commerce Ministry said in comments posted online.

Still, it means that the EU and the Chinese government have four more weeks to negotiate. Talks have already been held between Valdis Dombrovskis, the EU commissioner for the economy, and Chinese Trade Minister Wang Wentao, as well as at the level of technical experts.

The China-EU technical teams are due to resume negotiations on Oct. 7.

The duties on Chinese manufacturers, if applied, would be 17% on cars from BYD, 18.8% on those from Geely and 35.3% for vehicles exported by China's state-owned SAIC. Geely has brands including Polestar and Sweden's Volvo, while SAIC owns Britain's MG, one of Europe's bestselling EV brands.

Other EV manufacturers in China including Western companies such as Volkswagen and BMW would be subject to duties of 20.7%. The commission has an "individually calculated" rate for Tesla of 7.8%.

The retaliatory duties have run into opposition in Germany, which has Europe's biggest economy and is home to major automakers.

Germany's auto industry association, the VDA, said the German government sent the "right signal" by voting against them. Hildegard Müller, who chairs the group, called the decision "a further step away from global cooperation."

She acknowledged that there is a need for negotiations with China and said that they "must prevent an escalation - ideally avert the tariffs, so that we don't risk a trade conflict."

Hungarian Prime Minister Viktor Orbán warned that the EU risks starting an "economic cold war" with China, and he pledged to vote against the duties. "This is the worst thing that can happen to Europe. ... If this continues, the European economy will die," he told state radio.

According to the commission, Chinese-built electric cars jumped from 3.9% of the EV market in 2020 to 25% by September 2023, in part by unfairly undercutting EU industry prices.

Brussels says companies in China accomplished that with the help of subsidies across the production chain. They ran from cheap land for factories from local governments to below-market supplies of lithium and batteries from state-owned enterprises to tax breaks and easy financing from state-controlled banks.

The rapid growth in market share has sparked fears that Chinese cars will eventually threaten the EU's ability to produce its own green technology to combat climate change, as well as the jobs of 2.5 million auto industry workers and 10.3 million more people whose jobs depend indirectly on EV production.

___

Geir Moulson in Berlin contributed to this report.

Continue Reading...

Popular

Donald Trump Fueled Bitcoin's Rise Beyond $100,000 — Can BTC Survive His 2028 Exit?

Bitcoin (CRYPTO: BTC) may face its biggest political stress test yet in 2028 when President Donald Trump leaves office and the pro-crypto admin

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Veterans Day: What's open, what's closed

WASHINGTON (AP) — The Veterans Day holiday began more than a century ago, albeit under a different name, as a celebration of the end of World War I. Over time its name and purpose evolved into a day of recognition for of as well as those currently serving in uniform.

Trump's $5.3 Trillion "Manhattan Project" - Ad

Trump just launched a $5.3T AI-powered missile shield-America's modern "Manhattan Project." While defense giants scramble, one tiny firm is already 40x smaller than Lockheed... yet leads anti-drone tech in 300+ defense programs. With $1.3B in contracts, this stock could soar.

EPAM Confident On Growth, Initiates $1 Billion Stock Buyback

EPAM Systems (EPAM) stock gained 4.41% after reporting strong third-quarter 2025 results, with sales of $1.394 billion.

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Bangladeshi workers protest in Malaysia over unpaid wages and mistreatment claims

DHAKA, Bangladesh (AP) — About 100 Bangladeshi workers who were employed by Malaysian companies rallied Monday to demand unpaid wages, fair compensation and an end to alleged abuse by Malaysian employers.

Bernie Sanders Says Shutdown Fight Is About Trump Giving Trillion-Dollar Tax Breaks To 'Mr. Musk, Mr. Bezos' And Other Billionaires: 'Must Not Cave'

Sen. Bernie Sanders blamed President Donald Trump's billionaire-focused tax cuts for causing the record-breaking government shutdown, urging Democrats "not to cave" as the Senate moves toward a vote to reopen the government.

Buy This Gold Stock Before the New Year - Ad

America is about to see a massive shift in how regular people buy and store gold. Next year, the world's largest gold buyer is expected to launch a new way for everyday Americans to invest in gold with a simple tap on their phone - and it could go live in 2026. When it does, a tiny gold stock trading around $1.60 could explode.

Marjorie Taylor Greene Buys Blue Chip Stock Near 52-Week Low

Marjorie Taylor Greene is known for buying multiple stocks at a time, based on recent disclosures. A new filing shows one stock bought in November.

What Taxpayers Need To Know Now That The IRS Has Scrapped Direct File For 2026

IRS Direct File, free online tax-filing tool launched by Biden, won't be offered next year despite 296,531 users in 2025. Republicans criticize as wasteful, but supporters say it saves time and money. Taxpayers can still use private software or IRS Free File for eligible filers.

This Makes NVIDIA Nervous - Ad

NVIDIA's AI chips use huge amounts of power. But a new chip could cut energy use by 99% and run 10 million times more efficiently. One U.S. company has cornered this market. They control the first commercial foundry in America. At under $20 a share, it's a ground-floor shot at the next tech giant.

JPMorgan Says Chevron Investor Day Will Highlight Oil, Gas, LNG Market Dynamics

Chevron's 2025 Investor Day will focus on disciplined capital spending, dividend growth and technological innovation, according to JPMorgan analyst Arun Jayaram.

China creates a new visa, competing with the US in wooing global tech talent

HONG KONG (AP) — Vaishnavi Srinivasagopalan, a skilled Indian IT professional who has worked in both India and the U.S., has been looking for work in China. Beijing's new K-visa program targeting science and technology workers could turn that dream into a reality.

Better Than Bitcoin? (Top Crypto for Less Than $1) - Ad

Over the past 15 years, Bitcoin has outperformed stocks, bonds, and every other asset you could've bought. 2025 is already shaping up to be another banner year, with Bitcoin recently hitting a new all-time high. But there's a better way to profit from this new crypto rally. Most people don't know about it... and yet it's returned over 1,000% in 4 months. This could be the #1 way to invest in crypto right now.

China announces restrictions on chemicals after deal with Trump on fentanyl tariffs

WASHINGTON (AP) — China said Monday it is making good on its pledge to crack down on chemicals that can be used to make fentanyl, a key issue for President during recent talks with Chinese leader as they aimed to .

These are the 37 donors helping pay for Trump's $300 million White House ballroom

WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

Gold Is Being Reintroduced Into the Monetary System - Ad

While the media focuses on political scandals, inflation and coming up with ridiculous acronyms "TACO"... Smart money is tracking a far bigger shift: a gold revaluation is quietly underway. Garrett Goggin, CFA, says this could trigger 100X moves in select miners - and he's identified four with the biggest upside.

Asian shares trade mixed after AI darlings prop up Wall Street

TOKYO (AP) — Asian shares were trading mixed on Tuesday after overseas markets got a big lift from optimism over AI technology.

NATO member Romania signs agreement with Germany’s Rheinmetall to build a gunpowder plant

BUCHAREST, Romania (AP) — NATO member Romania signed an agreement Monday with German defense company Rheinmetall to build a gunpowder factory in central Romania, as

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its holdings in Bullish (NYSE:BLSH), Coinbase Glo

Shiba Inu Burn Rate Soars 67,557%: Is The Bull Run Back?

Shiba Inu (CRYPTO: SHIB) has dramatically accelerated its token burns, igniting hopes for a restart of the bull run.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit the most.

France threatens to block Shein over sale of childlike sex dolls ahead of Paris store opening

PARIS (AP) — French authorities have warned they may block access to after it emerged that the online fast fashion giant had been selling sex dolls with a childlike appearance.

MacKenzie Scott Has Donated More Than $19 Billion, Yet Her Wealth Grows Faster

MacKenzie Scott, the billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has donated a staggering $19.25 billion since 2020.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Jim Cramer: Chipotle Is 'Too Expensive,' Buy This Plane Maker

On "Mad Money," Cramer discusses Henry Schein, Bloom Energy, Tyler Technologies, Boeing and Chipotle Mexican Grill.

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Some Social Security Recipients Won't Have To Wait Until 2026 For COLA Hike

Social Security and SSI recipients will receive a 2.8% cost-of-living adjustment in 2026, with SSI beneficiaries seeing the increase a day earlier due to a federal holiday.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Trump's $5.3 Trillion "Manhattan Project" - Ad

Trump just launched a $5.3T AI-powered missile shield-America's modern "Manhattan Project." While defense giants scramble, one tiny firm is already 40x smaller than Lockheed... yet leads anti-drone tech in 300+ defense programs. With $1.3B in contracts, this stock could soar.

Trump Wants Washington Commanders' $3.7 Billion Stadium Named After Him: Report

President Donald Trump is seeking to have the Washington Commanders' new $3.7 billion stadium named after him.

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service