Trump's Exec Order #14154 Could Be a "Millionaire-Maker"

Trump's next move could cement his legacy--and trigger a historic wealth boom. Ex-presidential advisor Jim Rickards reveals how it could hand millions a shot at true financial freedom. Watch the urgent interview while it's still free.

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

Cathie Wood's Alpha Surge: $250 Million Circle Windfall, Big AMD Buys

Cathie Wood, founder and CEO of ARK Invest, has recently been on a hot streak of successful and high-profile trades through her flagship ARK ETFs. 

Big Banks Pass Fed's 2025 Stress Test With Ease—But Some Say It Was Too Easy

All major U.S. banks passed the Fed's 2025 stress test, but critics say easier assumptions may have padded the results.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Nike soars on a production shift away from China, but it warns of a $1 billion tariff hit

Nike's shares jumped at the opening bell Friday after the company said it's shifting some production away from China. But it also warned that tariffs imposed by the Trump administration will cost it about $1 billion before it makes internal changes, which include “surgical” price increases in the U.S. starting this fall.

BigBear.ai, AMD, QuantumScape, Coinbase, Tesla: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks ended the day on a high note, with the Nasdaq gaining over 1.4% on Tuesday to 19,912.53. The Dow also traded up 1.2% to 43,089.02, while the S&P 500 rose by 1.1% to 6,092.18. These are the top stocks that gained the attention of retail traders and investors throughout the day:

Wall Street Legend: Trump Tariffs Will Accelerate the Greatest Wealth Transfer in History - Ad

A financial insider with decades on Wall Street has released a controversial video. He reveals the unseen connection between Trump's economic vision and a technological revolution. This hidden synergy is creating both unprecedented wealth and poverty. What can you do about it?

Goldman Just Launched Two New Bond ETFs; Here's Why Investors Should Pay Attention

Goldman Sachs Asset Management debuts two new actively managed fixed income ETFs in response to rising demand for active strategies in a volatile rate landscape.

Senate Republicans seek tougher Medicaid cuts and lower SALT deduction in Trump's big bill

WASHINGTON (AP) — Senate Republicans on Monday proposed deeper , including new work requirements for parents of teens, as a way to offset the costs of making President Donald Trump's tax breaks more permanent as they unveiled draft legislation for his

The Missing Ingredient for Big Tech's $3T Recipe? - Ad

Big Tech doesn't build everything; they buy what's next. And only Emteq's tech offers real behavior insights for smart glasses, key to unlocking the $3T XR market. Their patented sensors track live facial muscle movements. With health-focused smart glasses in demand, only Emteq has this tech.

BigBear.ai (BBAI) Stock Soars 21%: What's Going On?

Shares of BigBear.ai are trading sharply higher Tuesday afternoon. The rally comes without any new company-specific announcements.

This Stock Just Popped 30% In 5 Days — Now Expert Says It 'Looks Potentially Explosive'

Experts have been betting on the growth prospects of Oscar Health, as it surged by 16.51% on Wednesday and 32.56% in the last five days.

A 64% Dividend From Gold? - Ad

Gold is soaring. But here's what no one's talking about: a way to earn a 64% dividend-paid in real cash every 30 days. No trading. No risky mining stocks. Just one simple move in your brokerage account... and you could start collecting monthly income almost instantly.

Japan launches a climate change monitoring satellite on mainstay H2A rocket's last flight

TOKYO (AP) — Japan on Sunday launched a satellite to monitor greenhouse gas emissions using its mainstay rocket, which made its final flight before it is replaced by a new flagship designed to be more cost competitive in the global space market.

Elon Musk Has A New Problem: BYD Beats Tesla In Global EV Sales Amid Europe Expansion

BYD has surpassed Tesla in global sales for the first time according to the International Council on Clean Transportation.

Wall Street Says BUY GOLD, But... - Ad

While markets wobble, gold keeps smashing records-and banks say it's just beginning. Goldman urges "buy gold" to hedge trade wars; JPMorgan plans $6,000 an ounce and just took delivery of $4 billion in bullion. Yet past bull runs saw 13x-1,000x bigger gains without buying more gold.

ICE arrests 84 people at Louisiana racetrack

NEW ORLEANS (AP) — The U.S. Immigration and Customs Enforcement arrested 84 people unlawfully in the country during a raid at a southwest Louisiana racetrack, the agency announced Tuesday.

Asia shares climb after China and the US say they have a framework for seeking a trade deal

TOKYO (AP) — Asian shares mostly rose Wednesday after . said they had reached agreement on a framework for following up on the trade truce reached last month in Geneva.

Crypto Genius: These 5 Altcoins Could Crush Bitcoin in 2025 - Ad

On June 30th, two powerful "Wealth Drivers" ignite what could be a 2025 super bull run-backed by Trump. One investmentThe altcoin market as a whole has already soared 132,721% over the past ten years and could surge again. A $900 stake could turn into $108K over 12 months. This is The Great Gain of 2025.

How Senate Republicans want to change the tax breaks in Trump's big bill

WASHINGTON (AP) — House and Senate Republicans are taking slightly different approaches when it comes to the tax cuts that lawmakers are looking to include in their massive

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Supreme Court OKs fee that subsidizes phone, internet services in schools, libraries and rural areas

WASHINGTON (AP) — on Friday upheld the fee that is added to phone bills to provide billions of dollars a year in in schools, libraries and rural areas.

If You Missed Tesla, Here's Your "Second Chance"... - Ad

If you missed your shot at turning $1,000 into more than $18,000 when I recommended Tesla, you'll want to pay close attention. I'm 100% convinced Elon's "Agenda X" could make early investors rich. But you need to hurry, because Elon and Visa are moments away from launching.

London-bound Air India flight with more than 240 aboard crashes after takeoff from Ahmedabad, India

AHMEDABAD, India (AP) — Ahmedabad’s city police commissioner says there don’t appear to have been any survivors from an Air India airliner that crashed, and that there are likely also casualties from the area of the city where it went down.

Public Company Bitcoin Holdings Are A 'Megatrend' Just Getting Started, Says Bitwise's Matt Hougan

Matt Hougan, Chief Investment Officer at Bitwise Asset Management on Monday described the surge in public companies holding Bitcoin (CRYPTO: BTC) as a “megatrend” that is set to accelerate, driven by concerns over dollar devaluation and

Crypto Genius: This Could Crush Bitcoin in 2025 - Ad

On June 30th, two powerful "Wealth Drivers" ignite what could be a 2025 super bull run-backed by Trump. One investmentThe altcoin market as a whole has already soared 132,721% over the past ten years and could surge again. A $900 stake could turn into $108K over 12 months. This is The Great Gain of 2025.

Senate Republicans move to slash CFPB funding by half, risking hundreds of job cuts

NEW YORK (AP) — Senate Republicans have moved to cut the funding of the Consumer Financial Protection Bureau by roughly half, as part of President Trump’s “Big Beautiful Bill,” which is likely to lead to hundreds of job cuts at the nation’s financial watchdog agency.

Chinese factory activity improves slightly with delay on tariffs, but still lags

BANGKOK (AP) — Chinese factory activity improved somewhat in June after President Donald agreed to on imports from China for 90 days, but overall activity was still contracting, according to a survey released Monday.

Trump's Exec Order #14154 Could Be a "Millionaire-Maker" - Ad

Trump's next move could cement his legacy--and trigger a historic wealth boom. Ex-presidential advisor Jim Rickards reveals how it could hand millions a shot at true financial freedom. Watch the urgent interview while it's still free.

Barrick's Top Gold Mine Placed Under State Control

Mali's Bamako Commercial Court put Barrick Mining's Loulo-Gounkoto gold complex under state control for 6 months after a prolonged standoff over taxation.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Senate Defends Trump's War Powers, Rejects Push For Congressional Approval For Further Action Against Iran

Senate rejects proposal to limit Trump's military powers against Iran. Vote largely split along party lines with only one Dem voting against.

International Space Station welcomes its first astronauts from India, Poland and Hungary

CAPE CANAVERAL, Fla. (AP) — The first astronauts in more than 40 years from India, Poland and Hungary arrived at the International Space Station on Thursday, ferried there by SpaceX on a private flight.

Wall Street Legend: Trump Tariffs Will Accelerate the Greatest Wealth Transfer in History - Ad

A financial insider with decades on Wall Street has released a controversial video. He reveals the unseen connection between Trump's economic vision and a technological revolution. This hidden synergy is creating both unprecedented wealth and poverty. What can you do about it?

The Latest: Death toll grows as Israel and Iran trade attacks for third day

The death toll is growing as exchanged missile attacks for a third consecutive day on Sunday, and Israel is warning that worse is to come.

Firms led by US military veterans deliver aid in Africa and Gaza, alarming humanitarian groups

ON A PLANE OVER UPPER NILE STATE, South Sudan (AP) — Swooping low over the banks of a Nile River tributary, an aid flight run by retired American military officers released a stream of food-stuffed sacks over a town emptied by fighting in , a country wracked .

The Missing Ingredient for Big Tech's $3T Recipe? - Ad

Big Tech doesn't build everything; they buy what's next. And only Emteq's tech offers real behavior insights for smart glasses, key to unlocking the $3T XR market. Their patented sensors track live facial muscle movements. With health-focused smart glasses in demand, only Emteq has this tech.

Dundee To Acquire Adriatic Metals In $1.25B Deal For Bosnian Silver-Zinc Mine

Dundee Precious Metals (OTCPK: DPMLF) has signed a deal to acquire UK-based Adriatic Metals (OTC: ADMLF) for $1.25 billion.

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