China continues to surpass the United States in economic initiatives, especially in the domains of electric vehicle (EV) and battery manufacturing. While the U.S. grapples with navigating shifting trade and supply chain issues, China’s centralized authority and financial management afford it a considerable edge. In recent years, the administration under President Joe Biden has imposed a variety of restrictions on numerous products sourced from China.
The supply chain assessment conducted by Washington, which underscores the national security importance of batteries, semiconductors, essential minerals, and pharmaceuticals, has set the groundwork for new industrial policies, specific tariffs, and additional actions against China’s trade behaviors.
China Takes the Lead in EV Manufacturing
Together with the United States, the European Union levied tariffs on Chinese electric vehicles earlier this year and is reportedly contemplating an increase of these tariffs to 37.6%.
In spite of these measures aimed at economic security, Western countries continue to fall behind. While the U.S. was focused on unifying NATO and the Indo-Pacific region to challenge China’s support for Russia, Zeng Yuqun, the founder and CEO of Chinese battery producer CATL, was busy traveling through Europe, engaging in discussions with sovereign wealth funds, family offices, and automotive manufacturers. High-quality journalism is essential for providing trustworthy and precise information in this swiftly changing economic environment.
