China's industry incentives might push the U.S. to impose tariffs on China's green energy exports according to U.S. Treasury Secretary Janet Yellen. Yellen stated the U.S. would prefer to work out a different solution but that tariffs and other measures were still possible. According to Yellen, the U.S. is trying to create a "level playing field in the green energy space."
Tag: trade war
China Hits Back in the Chip War, Imposing Export Curbs on Crucial Raw Materials (Macro News for July 15, 2023 – July 21, 2023)
China enacted export controls over rare earth elements used to make semiconductors after the U.S. and Europe imposed export restrictions on computer chips going to China. The export controls will go into effect on August 1, 2023, and will impact gallium and germanium and are designed to protect China's national security interests. Chinese exporters will be required to get approval from Beijing before these rare earth metals can be shipped. Trade experts believe the restrictions were imposed to retaliate against the U.S. and EU.
China is Winning the Trade War and Its Exports Have Never Been Higher (Macro News for January 16, 2021 – January 22, 2021)
China’s economic performance continues unabated after shrugging off the effects of the coronavirus pandemic. The nation finished 2020 with a record $535 billion world trade surplus of which $78 billion came in December alone. The world’s second largest economy saw exports increase by 27% over 2019 to set a new record high.
Australia is Out of Recession. Now it Needs to Avoid a Trade War with China (Macro News for December 5, 2020 – December 11, 2020)
Australia emerged from its first recession in 30 years with an annual third quarter 2020 growth rate of 3.3%. The recovery was driven by an increase in household spending after most Covid-19 restrictions were lifted. However, now the economy faces a challenge from trade tensions with China.
Pearson Economic News 