The Chinese government has strategically invested in its automotive industry, especially in electric vehicles, to align with the United Nations Sustainable Development Goals (SDGs) for 2030. By providing subsidies, they are encouraging the adoption of cleaner technologies, which helps reduce carbon emissions and promotes sustainable urban development. This not only aids in combating climate change but also positions China as a leader in green innovation, contributing to global efforts to create a more sustainable and eco-friendly future.
Yes and the reason China was so keen was the smog. It got so bad it knocked out the Shanghai property market. Buildings were built but only half rented out. Ten years on it is an amazing difference.
meanwhile they are by far the worlds greatest polluters and have commissioned more coal fired power stations this year than the rest of the world combined
doesn’t NOT aid climate change. It’s a furfy. It’s just another car , like it , love it , buy it , use it ; but drop the planet saving rhetoric. I’d love to buy a cheap cheap chinese EV if it could be independently certified as slave labour free.
Europe also subsidizes its vegetable and corn oil industries while simultaneously launching smear campaigns against palm oil from Malaysia and Indonesia. They are a bunch of hypocrites.
Big difference. China tariff on Europe’s dairy products will hit its existing traditional dairy industry. Europe’s tariff on China EV will hinder Chinese EV industry future growth which is yet to be realized. Basically it is like EU dairy industries will have to cut off existing jobs but China just stop new hires. It is obvious that Europe will feel the most pain.
not so simple. China will pour more products in the South market like South East Asia, Afica, Latin America, middle east etc. It will also tariff the luxury cars from Europe. The result is compressing the international market of the Europe automobile industrials greatly.
Unlike China, all subsidies to US carmaker is still ongoing until today in some shape of form, goes to the CEO. At least in China you see the result in the form of lower cost car.
The complaints are hilarious ... Article Title : "China gave BYD $3.7 billion to ‘win’ the EV race" Meanwhile ... Article Title : "US offers $12 billion to auto makers, suppliers for advanced vehicles" And that doesn't even account for the $7.5k incentive credit per EV. US sold 540k in 2022 and 670k Teslas in 2023 in US. That's over 1.2 million Teslas in just 2 years. With up to $7.5k subsidy per EV via credit incentive, that's another $9 billion in susbsidies for Tesla in just 2 years.
Every subsidy is a short term gain that you pay for long term with inflation in the price of whatever increasing and in the loss of purchasing power of the currency.
@@tomtube1012 China has a similar program to the US. It is 10% tax exemption per car without any restrictions according to research. When foreign auto makers invested in China they were required to partner with a Chinese firm. The same sort of thing is now going on in the US but mostly with batteries. There are at least 2 Chinese automakers building cars in the US. This sounds like equivalent measures.
Europe and North America are too far behind to compete. They are going to lose every other car market in the world even if they protect their home market.
@@danharold3087 or rivian? Lucid? Localized hyundai and Kia ev production in Georgia? How tesla and Panasonic in Nevada had the world's first and largest ev cell factory until 2022? Opening in late 2016 at a cost of over $2,000,000,000. And making hundreds of thousands of pure world class evs in America before any Chinese company could! 😁 And the crying over the verh fair tariffs imposed on cheap Chinese evs is hilarious from my perspective. Having watched us westerners auto factories over there get forced into unfavorable&onerous terms. And us built vehicle's paying 25-40% tariffs going into China! 👍🏻
Bullshit. Other countries (other than the US and Europe) are also implementing tariffs against Chinese products. China's surplus is not sustainable as it destroys the economies of other countries.
I don’t think China needs to worry about tariffs. I worry more about the overall economy of Europe, which I think is fast deteriorating. Europe is no longer a lucrative market. China should focus on the global south
If European carmakers need protection against Chinese brands even on home turf, they'll have zero ability to compete outside Europe, and European has massive auto overcapacity that requires the export of large percentage of their production, being limited to Europe means certain death, and everything EU does is just death care. All this is before China retaliating against European sales in CHina, and if they have any illusions on how effective Chinese sanctions are, just look at South Korean brands after THAAD sanctions. China doesn't care if Europe choose win-win or choose zero-sum win-lose, China doesn't loose, which means Europe choose to loose.
@@Lee-pf6od China is already #1 without US or Europe, they've already won. In the long run China wins far more from an Europe that gave up on competing than an Europe that can compete. You're drinking poison to quench your thirst, and China doesn't care what happens to you.
China should retaliate with a BAN on import of passenger vehicles with large displacement (over 2 liter) gasoline and diesel engines, and increased Carbon Tax on ones sold inside China. Germany is highly dependent on export and sale of such vehicles, so China can solve the German excess overcapacity problem by blocking imports and sales like the US does with the Chicken Tax and Jones Act.
China was the first country to heavily invest in EVs, battery tech and environmentally friendly energy due to the high levels of local pollution getting so bad that they faced civil unrest due to the health conditions. They financially investigated their situation and found out that it would cost their own government less to reduce automotive pollution then to continue to ignore the situation. This is a long term change in their policy going back many years that is now bearing fruit. You can look back many years ago there where articles in The Economist about china's changing goals and their direction.
Those who can compete, compete. Those who can't, enact all sorts of tariffs, restrictions, embargoes, or whatever sort of artificial barriers to stop better and cheaper products from getting in.
We are talking about fair trade, and the importance of comparative advantage. There is nothing intrinsically good about competition if it means the destruction of essential employment. Tariffs can be good or bad depending on what their economic effects are. Tariffs on dumped goods (like Chinese EVS) may have good consequences for a lot of people in Europe, while the same is true for China, if Europe dumps its excess agricultural produce in China, thereby discouraging investment in new Chinese industries or investment that improves the quality of goods and services (e.g. Chinese wine, local dairy production etc.).
@@KhunAdam A government which restrict the import of gasoline automobile in trying to protect those who make horse buggy, is the government which harms the nation instead of saving it
@@KhunAdam The Cheapest BYD in China sells for €9.000 but the cheapest BYD in Europe sells for €33.000 ~~~~ please tell us, how can you accuse China of *_dumping_* their EV on Europe when they sell the same EV * *_3 times the price_* * they sell in China.
@@verypleasantguy - BYD don't currently sell their cheapest models outside of China, and some of these cheaper models are specific configurations for the Chinese market. The BYD Seagull is an example, it will not be released to European markets till 2025 and the spec and cost will be higher in Europe (even in European countries without high import tariffs) than in China. In terms of dumping, this is relevant to the pricing of the country a product is sold into not the price in the country of origin, if you sell a widget for $10,000 in a territory where the average price of similar spec'd widgets is $20,000 this is dumping, regardless whether the widget only costs $5,000 in the origin market.
@verypleasantguy But how many industries has the west or any non chinese countries cannibalized to gain a monopoly , thru subsidies ? I hope you are aware that China isn't a country that gets satisfied with a slice of the pie...it wants to buy out the whole bakery and will stop at nothing till it gets what it wants...similar to the American Dairy industry of the early 20th century you might say...with such a shark around, it's not impractical for other countries to protect their domestic manufacturers from obvious bankruptcy
Canadas lumber industry has been hit with the many tarrifs over decades in our softwood dispute with the U.S. The US says Canada is unfairly subsidised by its govt. Our systems differ as in....Here in Canada we have "Crown land", vast swaths of forests controlled by the fed. govt. To log it you get a lease from them. In the US they have private forests I believe which are more costly to lease. So for Canada to sell its lumber in the giant US market its hit with tarrifs.Who wins? US lumber producers.Who loses? The US homebuyer with the added cost.
What is happening now is that the Chinese car manufacturers are building factories in Hungary (part of the EU) and Turkey (which has a duty free agreement with the EU) for the EU market. Volvo (Geely) will build the EX30 for the EU market in Ghent, Belgium. The Volvo EX90 SUV has begun to be built in South Carolina, USA. I guess that every company interested in selling their cars in a region will have production there. This avoids customs duties.
They should ask us Europeans whether we want to buy cheaper and better Chinese EVs or if we prefer to pay more to support the EU automotive industries..
There’s a real opportunity for Australia to capitalise in replacing the Europeans in China, while also getting the world’s cheapest EVs. Ah those Europeans, they thought that they could get away with their economic war against Australia forever, karma is a bitch eh?
@@verypleasantguy Ah no unfortunately, because hygiene and production standards in Russia are very poor, in addition the Russians are very unreliable on delivering anything. But you could be right, the Chinese might get desperate, or want to show the Europeans what morons they are and give the Serfs a chance.
The automotive industry is to big. With 1/3 of the parts in an EV, compared to a fossil car. The subsidies for cars, are therefor insane. They will not help the workers. And, then you have the biggest scam in history. The oil subsidies at $US 9.000.000.000.000. On top of this ethanol in gas. To produce the ethanol, you use 70 times more area than you need for solar panels. 6-8% of all energy in the world are used to just refine oil. Norwegian numbers shows that you need 5% more electrictrisity to charge all vehicles if they where electric. The west needs to change this insanity.
Ok so you don't wear synthetic shoes or clothing or use a cell phone or computer ... all these products are made from the oil refining industries as byproducts as are all plastics and lubricants. Think before you speak.
If you want to bring up the cost of refining oil then what is the comparative financial and environmental impact to make solar panels and the equipment to go with them to deliver the electricity?
@@crosslink1493 Some environmentalists (not all) want to make it an either/ or proposition. I am not opposed to fossil fuels and the various byproducts of oil refineries and I am for renewable energy sources for I drive both ICE vehicles and Ev's. What few people realize is that the asphalt roads we drive on comes from the oil refining process. Plastics and paints we use on our cars also comes from oil.
@@mauriceharting5877In 2023 the ethanol production world wide was 29.5 billion gallons. If you use the same area for plants, you can produce the plastic you need. Biobased plastic-comes from sources like algae, sugarcane, or used cooking oil. You can also mop up the plastic Islands in the oceans, and recycle it.
I'm no longer sure what the EU leadership knows or doesn't know anymore. The staggering levels of incompetence and tendencies of self mutilation scare the living hell out of me and not just economy wise.
Europe's top management has been giving away EU's competitive advantages for many years, replacing them with dumb policies, that are at best irrelevant to long term economic success. In brief EU as an economic player has a demonstrably un-competitive competition strategy. The current end result for the automotive industry is that in the EU in the price of a new, say BMW, car 8 (eight) out of every 9 (nine) euros are not related to design and production of the vehicle, but are taxes, accruals and other isht. Chinoise give Europians a prime example of managed transformative effort that Europians could take as a cue, but instead they/we wall ourselves into the garden of happiness that never was. Tariffs won't remedy this.
The blockade seems to be just one of several stages of negotiations between the EU and China that will force the business world to figure out a solution. The EU brands want to stay solvent and most Europeans are reluctant to buy an unknown Chinese brand. Companies like Volvo/Geely/Polestar are already ahead of the curve, taking advantage of the EU branding and Chinese manufacturing efficiencies. Stellantis is also rumored to be selling some of their brands to China. As these tariffs and negotiations continue, the business world will not want to wait around. This is probably what both countries want to see. We are simply witnessing the pressures of the market place at play.
If China wants to sell in the EU, they need to build the cars in the EU with EU labor respecting the EU labor laws and quality and safety controls. Quite simple and exactly what China did to all EU automobil manufacturers. China, stop complaining and start building ... in EU.
1 - Chinese companies are building in Hungary, it's EU's problem that they don't like their own member Hungary. 2 - Western Europe has very recent track record of stealing assets and are openly discussing stealing Chinese infrastructure investments, no company in their right mind will invest in western Europe 3 - European car market simply isn't big enough, China is already the largest auto exporter and auto producer, Europe choosing not to compete but rather slowly die on home turf is fine for Chinese companies.
@@vlhc4642 China has the largest car market and therefore Chinese car manufactures should sell in China. If they want to sell in EU than build them in EU with EU labor and materials. Simple and most of of all EQUITABLE!
US will just dump its inferior subsidised ICE vehicles on Australia to maintain market share! This has been happening for decades and is one of the main reasons Australia hasn't switched to EVS sooner.
Its not going to end. Its just the beginning. VW must close factories in Germany. Opel did almost sell Zero Cars in Nederland. Was 100.000 Cars a year. We want affordable China EV Cars. ❤👍🌹🌹🌹
China gave permission for 50 new coal plants last year and we will be importing cars from them good idea 💡 lol. I watched a handful videos from this guy and it comes to me as this whole channel is just a big echo chamber of people fooled by Chinese international Marketing department 😂
Tariffs and subsides are complimentary. If one country subsidizes production to where it will wipe out competition the targeted countries have the right to use tariffs to protect their industry. We need to view subsidies that boost exports differently than ones that do not. It is in essence a government paying its manufactures to wipe out manufacturers in other countries. A system with no tariffs might need to also need to prohibit investment and subsidy by national, state and local governments. Good luck enforcing that.
All big business are taxpayer subsidized. Think about walmart getting tax breaks to build a store, taxpayers are payjng. Dairy farmers in america currently get subsidies to sell milk, otherwise it would cost more to make then sell. Its all taking money from citizens to have corporate welfare.
You should know that there were many discussions about the sanctions and that many people in Europe were against it, knowing the possible consequences. Just some politicians who know nothing about the market thought it would be a good idea
Reality is they do know about the market, but are pressured to protect their industries. The strange thing is most of the manufacturers in Europe are against it as they sell in China and know there will be retaliation. This is at a time China is going totally EV and Western makers are already suffering. So, they do know the market but are making the wrong decision, which makes them doubly stupid.
The *_" many people in Europe were against the tariffs"_* are the same people who will vote for the politicians who impose the tariffs in the first place
@@verypleasantguy yeah that’s right there were still many Europeans who wanted these sanctions and have no idea about the industry. I’ve had a colleague who really wanted those tariffs because he had no idea about how big the Chinese market is and how small the market share of Chinese EVs is in Europe. It’s the same people who say that the German car manufacturers should stick to gas cars Still, at the end, the politicians should’ve known that these sanctions aren’t worth the trade war.
@@crestas9 The politicians are those who represent the people. If the people are clueless, the politicians will be *_equally clueless._* That's all to it.
@@verypleasantguy yeah that’s right but there’s a good share of people and politicians who do have a clue about what they’re doing and about the consequences but unfortunately they didn’t get the majority.
Its pathetic.. totalling created by the legacy auto manufacturers ..serves them right..we the consumer suffer so yhe EU is actually breaking it's own Anti competition laws!!😂
Best line in this clip from the always objective, straight talking and fact-based Sam :" The US may have subsidised its automotive industry enormously but anyway, the US does what it wants". 😂
If EU-owned car makers were building viable profitable EVs then this protectionism would make sense. As it is, this will just slow down the transition to EVs and make cars more expensive and less good for EU citizens. Same applies in the US except for Tesla. As a UK citizen I hope we don't follow the EU lead, but I fear we will do even worse things. If the Chinese government wants to subsidize my next car purchase I don't see why I would object. There are no big UK-owned car makers to protect.
Canada too doesn't have any big car industry to protect, but under the pressure from the US, it too imposes high tariffs on Chinese EVs. EU is in the same boat as Canada.
The US is more interested in protecting the company or the jobs. The US has taken the stance that your welcome to come build a factory and employ our people and sell the cars they make here. This is not unlike China requiring partnerships with local companies.
@@bananacabbage7402 I wonder how did it happen that suddenly Europe stopped making good cars just as the heavily subsidised china imports hit the shores. Maybe it is just a tad more expensive to make a battery powered car and also sustainable manufacturing and treating the workers like human is more expensive and we shouldn't rationalize the easiest and cheapest way and play blind and sell-outs. Just maybe.
That’s not true. Many Europeans were well aware that this could end up in a trade war. At the end, unfortunately, the majority wanted those extra taxes.
@@linphilip6389 yeah that’s right. But politicians said that they wanted those sanctions and people voted for them(partly for that reason). Unfortunately populist rhetoric works well on many people and they just believe what one random politician tells them.
It's "the people" who pay the tariffs. Don't get the wording wrong. Sounds too much like Trump's inaccurate terminology regarding tariffs. I understand but some folks don't. BTW, we split our time between Canada and Brazil. We own a Mercedes-Benz EQS 580 Sedan 4MATIC in Canada and a new BYD Yuan Plus EV in Brazil.
The 'people' who pay the tariffs will turn around and vote for the politicians who voted for the tariffs. Therefore, the 'people' fully deserve to pay more and getting less
Perhaps the 'rules' will allow EU a facesaving way to back down when they realize the loss they will get in other commodities and loss of car sales in China. Legacy auto mfg brought this on themselves by pursuing current profits over EV development investment - their workers will suffer.
Chinese government shouldn’t be mad. The reactions of foreign governments is predictable and it was unrealistic for them to expect to undermine other nations manufacturing industry
Those foreign western countries dominated manufacturing for decades. During that time, did the other countries cry and whine like the west is doing now? Did the rest of the world play dirty the way the west is doing now?
I understand the EU's concern regarding tariffs on Chinese cars, as it's about protecting local industries, but trade is a two-way street. Considering the broader economic exchange between China and the EU, I tend to agree with China's stance that the tariffs might be a bit excessive. A more balanced approach could benefit both sides in the long run.
Minimizing short term pain is not the usual primary goal of natl policy. :Local auto industries are consumers of a nation's other industries and nations need to keep them healthy. Quietly, this determines policy, all the rest is economic warfare. The complaining is the simple result of the brutality of wars. EU subsidies for local auto can be expected to rise regardless of costs. The EU will do whatever it takes to literally force local auto to switch to EVs, the question is the timeline.
Very short-sighted logic. Thank-you "Medusa Leyen." The EU has precipitated this trade war and worsened their economic situation. As a vassal state of the US, they are paying the price. No doubt China will survive since there are so many alternative less expensive resources/products in the Global South. That once lucrative Chinese market will be lost forever!
That’s not how it works … farmers make their money on exports Thus giving you cheap agricultural products in return You think it’s expensive wait until your farmers lose their export markets… that allow them to survive What is the trade deficit with the EU and China 320 billion USD in 2023? Last I checked EU companies in China sold 514 billion dollars in goods and services to the Chinese domestic consumer in 2019 What we are really talking about is 300,000 Chinese EVs were sold in the EU in 2023 The US and EU sell a good portion of the 20 million ICE vehicles sold in China every year
Note that the WTO’s Appellate Body, which is essential for finalizing dispute resolutions, has been paralyzed since 2019 due to the U.S. blocking the appointment of new judges. This has effectively halted the appeals process and left many cases unresolved.
Our exports to Europe have a 50% tariff put on them and have the additional penalty of being restricted to paltry amounts which has gone on for generations. The Chinese have got it easy in Europe.
@@seanlander9321 Mexico byd king hybrid is 25000€ everything including. Same car in eu is 60000€ 🤯🤯🤯🤯🤯 what is broplem? Where we need more tax? We need better car's. Even Toyota turns to byd hybrid tegnologia and give up owns..
The thing is that yeah it might be a bad trade for the EU in monetary terms, but it's not about that at all. EU is fighting Chinese subsidized production flooding the market that stifles local EV/battery production in the EU. The fact that some other industries(combustion engine cars) get a Chinese tariff is irrelevant. There's plenty of abuse in that as well which is arguably a secondary benefit in EU commission's equation. P.S. When it comes to trade wars China is the junior partner to the EU. Exactly as the USA found out for itself on several recent occasions.
This is a international race to own the global EV market. Any country running in this race needs to Subsidize EVs to whatever extent they can afford. There is nothing fair about it. Should note that the US subsidizes the oil industry at much higher levels than it does EVs. Part of why BEV adoption is the US while growing is not growing as fast as in other parts of the world.
Still lower than the US import taxes and way lower than 100% import tax in India... let's not even metiontion the Chinese import tax.. So everybody should stop pointing fingers to the EU where everybody else is way worse.
I've seen on Reddit people claiming that China is charging 25% tariffs on European cars, so the EU's tariffs are fair, with 1000 upvotes. In reality, China has 9-15% tariffs on European and American cars. They welcome foreign cars inside their country so the market is competitive. That's the key to why Chinese vehicles are getting better and better.
So, We have to pay out of our, already taxed income, an extra government tax because we can't pay for expensive European cars? So we end up paying just as much as for other brands? Thats NOT called healthy competition. Thats NOT helping out the middle class. Thanks Europe! You are really helping out the commen man. Thanks Brussels!
China will just come and set up manufacturing in the EU. Chinese auto manufacturers already are planning on building factories. These factories will be very efficient and make Chinese EVs which will sell all over Europe without tariff. Plus they will save the shipping cost. While European legacy auto will be very slow to develop and manufacture EVs in any quantity. It could be a blood bath
Yes, but they’ll also have country of origin tariffs so things like batteries will still have huge tariffs if they are made in China and shipped to Europe for assembly.
The Chinese government dumps as much money as needed into any industry that advances its own interests. America does the same the only difference is China gets better results. For example if you look at all the local tax breaks at the state level that automakers get in America. Every company that says it will build xyz facility in a state and employ x number of people will get a tax break. China is different they’ll straight out pay people to start companies.
in 2022 France exported $17.B of wine & spirit worldwide, out of a total $963 billions in exports!!!! French Wine & spirit exported to China amounted to 1 billion in 2018!!!! The electric viking is letting his imagination run wild!!!!!!
The rational response to Chinese subsidies of its EV industry would be for the EU to match them with equivalent subsidies for its own EV industry. The EU subsidies can be financed by indiscriminate taxes on all EVs, domestic and imported.
Agriculture is very important in UE. We don't want to eat fruits and vegetables that taste like cardboard. I don't care which brand sales in Europe. If Tesla and BYD want to build factories in UE that is very good, it means jobs in Europe.
It is a very disproportional and clumsy decision of our European government. Take als into account that there are car-industries like Mercedes is buying technology from BYD and countries which are already producing Chinese EV’s within Europe’s surroundings. It is de European car industry who has to react with better products.
Essentially, certain Western European countries are banning EVs from China. When the U.S. Chip Act banned the sales of semiconductor to China, China semiconductor industry exploited the reduced competition by investing more in R&D while expanding chip manufacturing CC will will ban French wines while domestic wine producers will exploited the restricted wine market by reinventing the Chinese wine making industry.
Naw Europe does well taxing up the chinese cars. Yes even though I like my cars to be cheaper, cause they're unfathomably expensive here compared to other continents. But German and French companies pay their taxes. To be outpriced by chinese brands who are backed by a content-level-government would be unfair. Europe is well aware of Chinese antics too, where they buy out companies (especially distribution and harbour based ones) in order to set up trade routes of their own, bypassing import customs, allowing them to outprice any honest local business. This goes beyond cars. If only African countries would crack down on the chinese and stop the hidden cobalt trade routes they got going on over there...but I guess that free infra structure has to be paid somehow.... be it with the cobalt and lips sealed tight.
Also, BYD overtakes Honda by Sales World wide in July. Agriculture in Industrialized Countries all have subsidies from their Government. Whatever Agricultural Product from EU can be replaced by Latin American countries and also Russia, and Luxury products like Ham from Spain, Brandy from France and Gucci are not a necessity but is important for vote count in their Country. Look at Australia, Beef,Lobster wine and Barley is causing hardship to their sector, a month of Wine Sales since the lift of Tariffs worth more than 3years for Australia and the EU has higher Subsidies than Australia so it is up to EU and no EV car companies will invest in the country that vote for the imposition of Tariffs. BYD will have 3 car Companies to set up overseas with 150000 for first 2 years of Production and the 3red year with 400000 in Plan so it will be interesting to see any plant in EU after the vote.
Government probably has a place in subsidizing industry seed money for tech that needs to be done but is not. An example would be NASA supplying money to 3 competing companies to build commercial space flight. Today SpaceX has lowered the cost of space flight by 90% compared to NASA. But Government has no place in picking who wins and who looses in the marketplace.
Correction : Tesla's Chinese made cars tariffs are easing from 20.8% down to 9%. So, expect Tesla to lower Chinese made Tesla Model 3 Higland cars to below €30.000 from October. Good news for the European consumer in the short run.
@@danharold3087 Exactly, down from 30.8% to a mere 19% is huge. Today that model must be built in China because it uses the CATL LFP battery. When Giga Berlin invest in a LFP manufacturing here in Europe, it will become even better. If not the Chinese government will impose a sanction banning CATL a business cooperation with an American company in EU.
@@TrumanBurbankFE Tesla and China have a generally good relationship. They need each other. That could change. If needed I expect Tesla to be making a 4680 that is LFP or will stand in for it. 4680 is the can size not the chemistry.
The automobile industry is very important in Europe. We need time to adapt. Europe, unlike the United States and Canada (100% taxes) has decided on reasonable, temporary and differentiated taxes according to the manufacturers. Chinese manufacturers will build factories in Europe. Competition will then be total and our manufacturers will have had their chance. For Europe, China is not an enemy but a formidable competitor with whom it trades. 🇪🇺
Thanks for objektive reports. All countries substituting their industries. Europe, the USA and Australia subsidize their industries for decades. Therefore they have overproduction to export. Double standards.
The reason China keeps doing what you don't understand is the CPC has to answer to their people. They said it to their people. No matter what they say or do, they do it for political stability. They don't care what the US or EU do. They know they can't be hurt as long as they rule the country. They have everything to survive, keep growing, and strike back to win. The CPC runs the country as a gigantic for-profit organization. They have all the resources.
Open world trade is not working for the benefit of most ordinary citizens. Production of most goods and services in China, or other nations where wages and conditions cost less than one's home country mainly benefits entrepreneurs and leaves the importing nations with less jobs and skills. Every nations should produce almost all they need, where possible. This provides jobs, maintains skills and contributes to a completes or more balanced and healthy economy. China cannot continue to be the factory for much of the world. Each nations must resumne production of goods and services that has been expected of Chine for the last 30 yo 40 years. The governments of each nation should also strengthen their governing on behalf of their citizens, not for greedy entrepreneurs, leaving opportunity for reasonable profits to be made, but not extreme exploitation of 'the people'. By the way, good work with your channel. Try to get a little more rest, as I need to do also.
many countries encourage their industry by subsidising it but when they start threatening them is not alright but vice versa is not alright to put tariifs on theirs.
What a shame :( Instead of raise from our decadence chair and taking our lessons learned regarding price/value into the production of our EVs they raise taxes for the import. As if THAT would change my interest one of ou,r worse and to expensive, cars, that are in wide parts manufactured in China anyway.
Mode 3 only increased by 3% in Denmark (Europe) where I live. Also people/workers in China is working under slave like conditions, living and working in the factory. Also most Chinese car manufacturers are loosing money on producing/selling EV’s. So the government is pumping a lot of money into the car manufacturers. This makes the Chinese EV’s an unfair competition. What made you love China and defend China all of a sudden? I try my best to avoid Chinese products, but it’s difficult. But as more people boycott Chinese products, they will slowly step down as sucking money out of all of us to power their bad ways of treating people.
I’m surprised China doesn’t subsidize precision fermentation to reduce dairy imports. Tony Seba is saying the that is going to replace dairy all together, but the product reviews I have seen are not that favorable. Not as easy replace dairy are he makes it sound….
Previous Tariff issues the same between Aus and China on Wine, Live Animals etc..... Where did Holden/Ford Aus go??? 🥲🔥 Why do we not have lots of good cheap Chinese EVs? Why did we start getting lots of Euro designed cars? 🤐 You know what I know.... Closed door meetings between high rank politicians is what I think.
You shouldn’t say Europe! Some countries in Europe have forced the EU. Many countries like Germany and Sweden amongst others have said No to increase on car tax from China.
China is using the legal jargon to build a case for the World Court which will at least reduce the tariffs or perhaps totally eliminate the tariff if the EU did not use a fair and clear methodology.
The Chinese government has strategically invested in its automotive industry, especially in electric vehicles, to align with the United Nations Sustainable Development Goals (SDGs) for 2030. By providing subsidies, they are encouraging the adoption of cleaner technologies, which helps reduce carbon emissions and promotes sustainable urban development. This not only aids in combating climate change but also positions China as a leader in green innovation, contributing to global efforts to create a more sustainable and eco-friendly future.
Yes and the reason China was so keen was the smog. It got so bad it knocked out the Shanghai property market. Buildings were built but only half rented out. Ten years on it is an amazing difference.
meanwhile they are by far the worlds greatest polluters and have commissioned more coal fired power stations this year than the rest of the world combined
doesn’t NOT aid climate change. It’s a furfy. It’s just another car , like it , love it , buy it , use it ; but drop the planet saving rhetoric.
I’d love to buy a cheap cheap chinese EV if it could be independently certified as slave labour free.
CCP propaganda
@@bertloreto9507But then they will have to compete on price.
Europe also subsidizes its vegetable and corn oil industries while simultaneously launching smear campaigns against palm oil from Malaysia and Indonesia. They are a bunch of hypocrites.
When the Western people look at the mirror, they see hypocrites
So Europe is burning ancient O2 generating forest for corn oil production?
@@ChroniclesXposed correct correct
Palm oil should be banned since it is not good for ones health.
Then, stop exporting to them.
Big difference. China tariff on Europe’s dairy products will hit its existing traditional dairy industry. Europe’s tariff on China EV will hinder Chinese EV industry future growth which is yet to be realized. Basically it is like EU dairy industries will have to cut off existing jobs but China just stop new hires. It is obvious that Europe will feel the most pain.
They're losing jobs either way - losing manufacturing or reduced dairy, so questionable whether they would be worse off.
not so simple. China will pour more products in the South market like South East Asia, Afica, Latin America, middle east etc. It will also tariff the luxury cars from Europe. The result is compressing the international market of the Europe automobile industrials greatly.
Seems to EU needs some pain to wake them up...
Unlike China, all subsidies to US carmaker is still ongoing until today in some shape of form, goes to the CEO. At least in China you see the result in the form of lower cost car.
In Australia we subsidize fossil fuels because they are major election donors.
The complaints are hilarious ...
Article Title : "China gave BYD $3.7 billion to ‘win’ the EV race"
Meanwhile ...
Article Title : "US offers $12 billion to auto makers, suppliers for advanced vehicles"
And that doesn't even account for the $7.5k incentive credit per EV.
US sold 540k in 2022 and 670k Teslas in 2023 in US. That's over 1.2 million Teslas in just 2 years. With up to $7.5k subsidy per EV via credit incentive, that's another $9 billion in susbsidies for Tesla in just 2 years.
Every subsidy is a short term gain that you pay for long term with inflation in the price of whatever increasing and in the loss of purchasing power of the currency.
@@tomtube1012 China has a similar program to the US. It is 10% tax exemption per car without any restrictions according to research.
When foreign auto makers invested in China they were required to partner with a Chinese firm. The same sort of thing is now going on in the US but mostly with batteries. There are at least 2 Chinese automakers building cars in the US. This sounds like equivalent measures.
Chinese employee averages $16,500 a year US $58,000
This wouldn’t be a big deal if China paid their workers equally
Europe and North America are too far behind to compete. They are going to lose every other car market in the world even if they protect their home market.
Not giving the North America credit for Tesla ? I realize they have international production but they are an American company.
@@danharold3087 or rivian? Lucid? Localized hyundai and Kia ev production in Georgia?
How tesla and Panasonic in Nevada had the world's first and largest ev cell factory until 2022? Opening in late 2016 at a cost of over $2,000,000,000. And making hundreds of thousands of pure world class evs in America before any Chinese company could! 😁
And the crying over the verh fair tariffs imposed on cheap Chinese evs is hilarious from my perspective. Having watched us westerners auto factories over there get forced into unfavorable&onerous terms. And us built vehicle's paying 25-40% tariffs going into China! 👍🏻
@@danharold3087 Tesla is one Chinese sanctions from death.
@@4literv6 No, Rivian, Lucid, Hyundai, and Kia do not get credit. Their EV programs are not profitable.
Bullshit. Other countries (other than the US and Europe) are also implementing tariffs against Chinese products. China's surplus is not sustainable as it destroys the economies of other countries.
I don’t think China needs to worry about tariffs. I worry more about the overall economy of Europe, which I think is fast deteriorating. Europe is no longer a lucrative market. China should focus on the global south
Cold hard truth. I love it. Very refreshing.
Much appreciated
If European carmakers need protection against Chinese brands even on home turf, they'll have zero ability to compete outside Europe, and European has massive auto overcapacity that requires the export of large percentage of their production, being limited to Europe means certain death, and everything EU does is just death care.
All this is before China retaliating against European sales in CHina, and if they have any illusions on how effective Chinese sanctions are, just look at South Korean brands after THAAD sanctions.
China doesn't care if Europe choose win-win or choose zero-sum win-lose, China doesn't loose, which means Europe choose to loose.
Europe loses either way, and China is squealing enough to make it clear this won't be a win for them
@@Lee-pf6od China is already #1 without US or Europe, they've already won.
In the long run China wins far more from an Europe that gave up on competing than an Europe that can compete. You're drinking poison to quench your thirst, and China doesn't care what happens to you.
China should retaliate with a BAN on import of passenger vehicles with large displacement (over 2 liter) gasoline and diesel engines, and increased Carbon Tax on ones sold inside China. Germany is highly dependent on export and sale of such vehicles, so China can solve the German excess overcapacity problem by blocking imports and sales like the US does with the Chicken Tax and Jones Act.
Australia is the best right now. Getting all the latest EVs from China.
Not all the latest, but still way better than EU and the US anyway.
And as a good gesture Australia allows us to be your landlord. We thank you, Aussies are good renters
Blood EVs built by slaves with factories dumping toxins in the land sea and air what a Deal!....
AUSTRALIA is slowly being bought by China in any case so you all will feel at home among them 🇨🇳
No reason to protect anything in Australia
China was the first country to heavily invest in EVs, battery tech and environmentally friendly energy due to the high levels of local pollution getting so bad that they faced civil unrest due to the health conditions. They financially investigated their situation and found out that it would cost their own government less to reduce automotive pollution then to continue to ignore the situation. This is a long term change in their policy going back many years that is now bearing fruit. You can look back many years ago there where articles in The Economist about china's changing goals and their direction.
Those who can compete, compete.
Those who can't, enact all sorts of tariffs, restrictions, embargoes, or whatever sort of artificial barriers to stop better and cheaper products from getting in.
We are talking about fair trade, and the importance of comparative advantage. There is nothing intrinsically good about competition if it means the destruction of essential employment. Tariffs can be good or bad depending on what their economic effects are. Tariffs on dumped goods (like Chinese EVS) may have good consequences for a lot of people in Europe, while the same is true for China, if Europe dumps its excess agricultural produce in China, thereby discouraging investment in new Chinese industries or investment that improves the quality of goods and services (e.g. Chinese wine, local dairy production etc.).
@@KhunAdam A government which restrict the import of gasoline automobile in trying to protect those who make horse buggy, is the government which harms the nation instead of saving it
@@KhunAdam Your insinuation that China has *_dumped_* their EVs on Europe is flatly false !
@@KhunAdam The Cheapest BYD in China sells for €9.000 but the cheapest BYD in Europe sells for €33.000 ~~~~ please tell us, how can you accuse China of *_dumping_* their EV on Europe when they sell the same EV * *_3 times the price_* * they sell in China.
@@verypleasantguy - BYD don't currently sell their cheapest models outside of China, and some of these cheaper models are specific configurations for the Chinese market. The BYD Seagull is an example, it will not be released to European markets till 2025 and the spec and cost will be higher in Europe (even in European countries without high import tariffs) than in China.
In terms of dumping, this is relevant to the pricing of the country a product is sold into not the price in the country of origin, if you sell a widget for $10,000 in a territory where the average price of similar spec'd widgets is $20,000 this is dumping, regardless whether the widget only costs $5,000 in the origin market.
Glad we left the EU…
We're glad you left too
@@ajkulac9895 Then everyone is happy, and we are richer…
That's not true and you know it.
@@colinsuter6888 Yeah that's rich
😂😂😂
Compete by building better products, not tariffs.
Europe had to hit China with tariff because they simply can't compete anymore !
Yes but what if the scales are tilted by means of govt subsidies ?
@@lordofsevenrealms Please point to us *_ONE_* government in the West which doesn't subsidize it's own businesses.
@verypleasantguy But how many industries has the west or any non chinese countries cannibalized to gain a monopoly , thru subsidies ?
I hope you are aware that China isn't a country that gets satisfied with a slice of the pie...it wants to buy out the whole bakery and will stop at nothing till it gets what it wants...similar to the American Dairy industry of the early 20th century you might say...with such a shark around, it's not impractical for other countries to protect their domestic manufacturers from obvious bankruptcy
China has trading excess that it can give back, EU borrows to subsidize.
Canadas lumber industry has been hit with the many tarrifs over decades in our softwood dispute with the U.S. The US says Canada is unfairly subsidised by its govt. Our systems differ as in....Here in Canada we have "Crown land", vast swaths of forests controlled by the fed. govt. To log it you get a lease from them. In the US they have private forests I believe which are more costly to lease. So for Canada to sell its lumber in the giant US market its hit with tarrifs.Who wins? US lumber producers.Who loses? The US homebuyer with the added cost.
What is happening now is that the Chinese car manufacturers are building factories in Hungary (part of the EU) and Turkey (which has a duty free agreement with the EU) for the EU market. Volvo (Geely) will build the EX30 for the EU market in Ghent, Belgium. The Volvo EX90 SUV has begun to be built in South Carolina, USA. I guess that every company interested in selling their cars in a region will have production there. This avoids customs duties.
They should ask us Europeans whether we want to buy cheaper and better Chinese EVs or if we prefer to pay more to support the EU automotive industries..
Since when the Elites care about the people ?
We pay more because our cars are actually produced more ecologically unlike in China
nonsense and you have no prove. How green are your energy?
@@eduard348 Our cars are made in china, VW, Mercedes , except Dacia 😂
We dont want chinese cars
Now, Aussie dairy farmers are laughing in their sleep.
May be not. China will produce artificial milk.
There’s a real opportunity for Australia to capitalise in replacing the Europeans in China, while also getting the world’s cheapest EVs. Ah those Europeans, they thought that they could get away with their economic war against Australia forever, karma is a bitch eh?
Soon, Russian dairy farmers will be laughing along
@@verypleasantguy Ah no unfortunately, because hygiene and production standards in Russia are very poor, in addition the Russians are very unreliable on delivering anything. But you could be right, the Chinese might get desperate, or want to show the Europeans what morons they are and give the Serfs a chance.
@@verypleasantguy 🤣
The automotive industry is to big. With 1/3 of the parts in an EV, compared to a fossil car.
The subsidies for cars, are therefor insane. They will not help the workers.
And, then you have the biggest scam in history. The oil subsidies at $US 9.000.000.000.000.
On top of this ethanol in gas. To produce the ethanol, you use 70 times more area than you need for solar panels.
6-8% of all energy in the world are used to just refine oil. Norwegian numbers shows that you need 5% more electrictrisity to charge all vehicles if they where electric.
The west needs to change this insanity.
I support $12/gallon for gas in America. We can not remove subsidies, that is impossible. But they can put a $9/gallon tax on the gas.
Ok so you don't wear synthetic shoes or clothing or use a cell phone or computer ... all these products are made from the oil refining industries as byproducts as are all plastics and lubricants. Think before you speak.
If you want to bring up the cost of refining oil then what is the comparative financial and environmental impact to make solar panels and the equipment to go with them to deliver the electricity?
@@crosslink1493 Some environmentalists (not all) want to make it an either/ or proposition. I am not opposed to fossil fuels and the various byproducts of oil refineries and I am for renewable energy sources for I drive both ICE vehicles and Ev's.
What few people realize is that the asphalt roads we drive on comes from the oil refining process. Plastics and paints we use on our cars also comes from oil.
@@mauriceharting5877In 2023 the ethanol production world wide was 29.5 billion gallons. If you use the same area for plants, you can produce the plastic you need. Biobased plastic-comes from sources like algae, sugarcane, or used cooking oil. You can also mop up the plastic Islands in the oceans, and recycle it.
BYD will bypass EU tariffs by opening plants in Turkey, and Hungary.
EU is essentially sacrificing Spain, Germany and France in benefiting Hungary and Turkey
I'm no longer sure what the EU leadership knows or doesn't know anymore. The staggering levels of incompetence and tendencies of self mutilation scare the living hell out of me and not just economy wise.
Europe's top management has been giving away EU's competitive advantages for many years, replacing them with dumb policies, that are at best irrelevant to long term economic success. In brief EU as an economic player has a demonstrably un-competitive competition strategy. The current end result for the automotive industry is that in the EU in the price of a new, say BMW, car 8 (eight) out of every 9 (nine) euros are not related to design and production of the vehicle, but are taxes, accruals and other isht. Chinoise give Europians a prime example of managed transformative effort that Europians could take as a cue, but instead they/we wall ourselves into the garden of happiness that never was. Tariffs won't remedy this.
The blockade seems to be just one of several stages of negotiations between the EU and China that will force the business world to figure out a solution. The EU brands want to stay solvent and most Europeans are reluctant to buy an unknown Chinese brand. Companies like Volvo/Geely/Polestar are already ahead of the curve, taking advantage of the EU branding and Chinese manufacturing efficiencies. Stellantis is also rumored to be selling some of their brands to China. As these tariffs and negotiations continue, the business world will not want to wait around. This is probably what both countries want to see. We are simply witnessing the pressures of the market place at play.
I understand how and why it works but we are suckers for buying a brand name purchased by China.
If China wants to sell in the EU, they need to build the cars in the EU with EU labor respecting the EU labor laws and quality and safety controls. Quite simple and exactly what China did to all EU automobil manufacturers. China, stop complaining and start building ... in EU.
Bingo. Volvo and Polestar are producing cars in the US. Yes they are now Chinese owned brands. They are even eligible for the tax incentives.
1 - Chinese companies are building in Hungary, it's EU's problem that they don't like their own member Hungary.
2 - Western Europe has very recent track record of stealing assets and are openly discussing stealing Chinese infrastructure investments, no company in their right mind will invest in western Europe
3 - European car market simply isn't big enough, China is already the largest auto exporter and auto producer, Europe choosing not to compete but rather slowly die on home turf is fine for Chinese companies.
@@vlhc4642 China has the largest car market and therefore Chinese car manufactures should sell in China. If they want to sell in EU than build them in EU with EU labor and materials. Simple and most of of all EQUITABLE!
@@alexgray1905 The Chinese market is almost saturated with 318 million cars for 1.4 billion people.
@@alexgray1905 And if it is produced in Europe, it will not enjoy the huge cost reduction brought by mass production. The price will go up.
These tariffs will make Chinese EVs even stronger.
This trade war should result in a huge surplus of cars in China for export. Australia could benefit
If only EU were right hand drive :)
US will just dump its inferior subsidised ICE vehicles on Australia to maintain market share! This has been happening for decades and is one of the main reasons Australia hasn't switched to EVS sooner.
Latin America,middle East,Africa and Asia is a much bigger Market for EV than Australia.
Australian are driving on the wrong side of the road， says Europeans.
You have thousand of Tesla siting at port Melbourne that going to be heavily discounted.
Should we mention subsidies to Boeing and Airbus?
Its not going to end. Its just the beginning. VW must close factories in Germany. Opel did almost sell Zero Cars in Nederland. Was 100.000 Cars a year. We want affordable China EV Cars. ❤👍🌹🌹🌹
Great video
all tariffs are bad and these EU tariffs are daft.
China gave permission for 50 new coal plants last year and we will be importing cars from them good idea 💡 lol. I watched a handful videos from this guy and it comes to me as this whole channel is just a big echo chamber of people fooled by Chinese international Marketing department 😂
Tariffs and subsides are complimentary. If one country subsidizes production to where it will wipe out competition the targeted countries have the right to use tariffs to protect their industry.
We need to view subsidies that boost exports differently than ones that do not. It is in essence a government paying its manufactures to wipe out manufacturers in other countries.
A system with no tariffs might need to also need to prohibit investment and subsidy by national, state and local governments. Good luck enforcing that.
All big business are taxpayer subsidized. Think about walmart getting tax breaks to build a store, taxpayers are payjng. Dairy farmers in america currently get subsidies to sell milk, otherwise it would cost more to make then sell. Its all taking money from citizens to have corporate welfare.
I understand why they are doing it but EU is as it's end, especially Germany
Come to Germany, the end is far. We don't need chinese tofu dreg.
You have been lie to by your media, go visit China and see how tofu their infrastructure are, you will be piss off against your own country.
Exaggeration
You should know that there were many discussions about the sanctions and that many people in Europe were against it, knowing the possible consequences. Just some politicians who know nothing about the market thought it would be a good idea
Reality is they do know about the market, but are pressured to protect their industries. The strange thing is most of the manufacturers in Europe are against it as they sell in China and know there will be retaliation. This is at a time China is going totally EV and Western makers are already suffering.
So, they do know the market but are making the wrong decision, which makes them doubly stupid.
The *_" many people in Europe were against the tariffs"_* are the same people who will vote for the politicians who impose the tariffs in the first place
@@verypleasantguy yeah that’s right there were still many Europeans who wanted these sanctions and have no idea about the industry. I’ve had a colleague who really wanted those tariffs because he had no idea about how big the Chinese market is and how small the market share of Chinese EVs is in Europe. It’s the same people who say that the German car manufacturers should stick to gas cars Still, at the end, the politicians should’ve known that these sanctions aren’t worth the trade war.
@@crestas9 The politicians are those who represent the people. If the people are clueless, the politicians will be *_equally clueless._* That's all to it.
@@verypleasantguy yeah that’s right but there’s a good share of people and politicians who do have a clue about what they’re doing and about the consequences but unfortunately they didn’t get the majority.
Its pathetic.. totalling created by the legacy auto manufacturers ..serves them right..we the consumer suffer so yhe EU is actually breaking it's own Anti competition laws!!😂
Best line in this clip from the always objective, straight talking and fact-based Sam :" The US may have subsidised its automotive industry enormously but anyway, the US does what it wants". 😂
I will not defend US legacy as they are old and fossilized. The US is following China's lead. If you want to sell cars here, build them here.
If EU-owned car makers were building viable profitable EVs then this protectionism would make sense. As it is, this will just slow down the transition to EVs and make cars more expensive and less good for EU citizens. Same applies in the US except for Tesla. As a UK citizen I hope we don't follow the EU lead, but I fear we will do even worse things. If the Chinese government wants to subsidize my next car purchase I don't see why I would object. There are no big UK-owned car makers to protect.
Canada too doesn't have any big car industry to protect, but under the pressure from the US, it too imposes high tariffs on Chinese EVs. EU is in the same boat as Canada.
The US is more interested in protecting the company or the jobs. The US has taken the stance that your welcome to come build a factory and employ our people and sell the cars they make here.
This is not unlike China requiring partnerships with local companies.
@@bananacabbage7402 I wonder how did it happen that suddenly Europe stopped making good cars just as the heavily subsidised china imports hit the shores. Maybe it is just a tad more expensive to make a battery powered car and also sustainable manufacturing and treating the workers like human is more expensive and we shouldn't rationalize the easiest and cheapest way and play blind and sell-outs. Just maybe.
The government is clueless to what is going on
That’s not true. Many Europeans were well aware that this could end up in a trade war. At the end, unfortunately, the majority wanted those extra taxes.
The government doesn't care only the citizens will feel the effects.
@@crestas9the majority? most people cannot analyze the costs and benefits well. in the end the politicians dictate. Tragic consequence.
@@linphilip6389 yeah that’s right. But politicians said that they wanted those sanctions and people voted for them(partly for that reason). Unfortunately populist rhetoric works well on many people and they just believe what one random politician tells them.
The American viceroy council that rules Europe does not cares what happens to Europe.
It's "the people" who pay the tariffs. Don't get the wording wrong. Sounds too much like Trump's inaccurate terminology regarding tariffs. I understand but some folks don't.
BTW, we split our time between Canada and Brazil. We own a Mercedes-Benz EQS 580 Sedan 4MATIC in Canada and a new BYD Yuan Plus EV in Brazil.
The 'people' who pay the tariffs will turn around and vote for the politicians who voted for the tariffs. Therefore, the 'people' fully deserve to pay more and getting less
‘I sense an usual amount of fear for something as trivial as this trade dispute’
Jobs are at risk. Economies are at risk.
Europe has already lost
No
@@LeonieBachmann-h7x European leadership is only interested in its salary, not in the future of the European.
@@googleaccount718 You are wrong. The European leadership are doing everything to keep the LGBTQ feel safe and welcome
@@LeonieBachmann-h7xNo? Europe is imploding. 😂
Its not subsidy its investment
An investment in inflation.
Perhaps the 'rules' will allow EU a facesaving way to back down when they realize the loss they will get in other commodities and loss of car sales in China. Legacy auto mfg brought this on themselves by pursuing current profits over EV development investment - their workers will suffer.
Chinese government shouldn’t be mad. The reactions of foreign governments is predictable and it was unrealistic for them to expect to undermine other nations manufacturing industry
The mask is off. So much for "free market competition".
Really? Works the other way around. lol
@@ranx9078 no it doesn't.
@@eduard348 sure does
Those foreign western countries dominated manufacturing for decades. During that time, did the other countries cry and whine like the west is doing now? Did the rest of the world play dirty the way the west is doing now?
I understand the EU's concern regarding tariffs on Chinese cars, as it's about protecting local industries, but trade is a two-way street. Considering the broader economic exchange between China and the EU, I tend to agree with China's stance that the tariffs might be a bit excessive. A more balanced approach could benefit both sides in the long run.
Minimizing short term pain is not the usual primary goal of natl policy. :Local auto industries are consumers of a nation's other industries and nations need to keep them healthy. Quietly, this determines policy, all the rest is economic warfare. The complaining is the simple result of the brutality of wars. EU subsidies for local auto can be expected to rise regardless of costs. The EU will do whatever it takes to literally force local auto to switch to EVs, the question is the timeline.
Countries, nations, are instituted to PROTECT their society, their citizens, their national construct.
WHAT DO YOU EXPECT THEM TO DO??
Very short-sighted logic. Thank-you "Medusa Leyen." The EU has precipitated this trade war and worsened their economic situation. As a vassal state of the US, they are paying the price. No doubt China will survive since there are so many alternative less expensive resources/products in the Global South. That once lucrative Chinese market will be lost forever!
There are so many people waiting agricultural product to become cheap. If China stops importing them, it will be great for many Europeans.
That’s not how it works … farmers make their money on exports
Thus giving you cheap agricultural products in return
You think it’s expensive wait until your farmers lose their export markets… that allow them to survive
What is the trade deficit with the EU and China 320 billion USD in 2023?
Last I checked EU companies in China sold 514 billion dollars in goods and services to the Chinese domestic consumer in 2019
What we are really talking about is 300,000 Chinese EVs were sold in the EU in 2023
The US and EU sell a good portion of the 20 million ICE vehicles sold in China every year
Note that the WTO’s Appellate Body, which is essential for finalizing dispute resolutions, has been paralyzed since 2019 due to the U.S. blocking the appointment of new judges. This has effectively halted the appeals process and left many cases unresolved.
Incompetent leadership . Poor strategies and planning in EV sector..Arrogantly striding with its legacy motors..And now unable to compete?
Trying to stop the global flow of capital is like trying to stop a tsunami.
Our exports to Europe have a 50% tariff put on them and have the additional penalty of being restricted to paltry amounts which has gone on for generations. The Chinese have got it easy in Europe.
@@seanlander9321 I want to buy Chinese car but it's too expensive now 🤯🤯🤯🤯
@@seanlander9321 Mexico byd king hybrid is 25000€ everything including. Same car in eu is 60000€ 🤯🤯🤯🤯🤯 what is broplem? Where we need more tax? We need better car's. Even Toyota turns to byd hybrid tegnologia and give up owns..
@@artovalehtelija In Chima it's about 14,000 euros.
@@625as-pj5mg crazy 🤣🤣🤣🤣🤣 I understand if they sell it 25000€ in eu but not 300% tax etc 🤣🤣🤣🤣🤣🤣
@@625as-pj5mg taxes have to come down 👇🏼
I won't buy European dairy products, agricultural products, as well as red wine and coffee. I can't afford them.
The second biggest closed market in the world the EU. USA being the first.
EU > USA
France and Italy wanted the taxes and they produce in Marokko. China have to focus on products from France and Italy.
Hey, but you gotta love the Panda's 🤣
Good point viking
Bring it on !!!
There is a debate in China whether China should retaliate on EU's car industry (focus on Germany) or something else (focus on France).
The thing is that yeah it might be a bad trade for the EU in monetary terms, but it's not about that at all. EU is fighting Chinese subsidized production flooding the market that stifles local EV/battery production in the EU. The fact that some other industries(combustion engine cars) get a Chinese tariff is irrelevant. There's plenty of abuse in that as well which is arguably a secondary benefit in EU commission's equation.
P.S. When it comes to trade wars China is the junior partner to the EU. Exactly as the USA found out for itself on several recent occasions.
Honda and battery plants in Ontario receive money based on money they would receive in the U.S.
Why do they not also mention that N.Amerixa also subsidizes EV tech ? We fully support China as it takes over the world.
This is a international race to own the global EV market. Any country running in this race needs to Subsidize EVs to whatever extent they can afford. There is nothing fair about it. Should note that the US subsidizes the oil industry at much higher levels than it does EVs. Part of why BEV adoption is the US while growing is not growing as fast as in other parts of the world.
The real loser is the end consumer* and also the environment.
* people who can just about scrap together 10,000 for an ev car but can’t afford 20,000+
In the US, it's not just subsidize but out straight saving car manufacturers from going bankrupt and going out of existence.
Great the UK is not part of Europe as far as this is concerned
Yet, before long your brexit will cause not even being able to buy an ev
Eight years after the Referendum, we've finally got a Brexit benefit.🙂
From EU: Great the cherrypickers are gone. Good luck with chinese tofu dreg.
Still lower than the US import taxes and way lower than 100% import tax in India... let's not even metiontion the Chinese import tax.. So everybody should stop pointing fingers to the EU where everybody else is way worse.
I've seen on Reddit people claiming that China is charging 25% tariffs on European cars, so the EU's tariffs are fair, with 1000 upvotes. In reality, China has 9-15% tariffs on European and American cars. They welcome foreign cars inside their country so the market is competitive. That's the key to why Chinese vehicles are getting better and better.
So, We have to pay out of our, already taxed income, an extra government tax because we can't pay for expensive European cars? So we end up paying just as much as for other brands? Thats NOT called healthy competition. Thats NOT helping out the middle class. Thanks Europe! You are really helping out the commen man. Thanks Brussels!
China will just come and set up manufacturing in the EU. Chinese auto manufacturers already are planning on building factories. These factories will be very efficient and make Chinese EVs which will sell all over Europe without tariff. Plus they will save the shipping cost. While European legacy auto will be very slow to develop and manufacture EVs in any quantity. It could be a blood bath
Yes, but they’ll also have country of origin tariffs so things like batteries will still have huge tariffs if they are made in China and shipped to Europe for assembly.
Already in Hungary and Turkey.
They did this too Australia 🦘 aswell
The Chinese government dumps as much money as needed into any industry that advances its own interests.
America does the same the only difference is China gets better results. For example if you look at all the local tax breaks at the state level that automakers get in America.
Every company that says it will build xyz facility in a state and employ x number of people will get a tax break. China is different they’ll straight out pay people to start companies.
in 2022 France exported $17.B of wine & spirit worldwide, out of a total $963 billions in exports!!!!
French Wine & spirit exported to China amounted to 1 billion in 2018!!!!
The electric viking is letting his imagination run wild!!!!!!
The rational response to Chinese subsidies of its EV industry would be for the EU to match them with equivalent subsidies for its own EV industry. The EU subsidies can be financed by indiscriminate taxes on all EVs, domestic and imported.
Agriculture is very important in UE. We don't want to eat fruits and vegetables that taste like cardboard. I don't care which brand sales in Europe. If Tesla and BYD want to build factories in UE that is very good, it means jobs in Europe.
It is a very disproportional and clumsy decision of our European government. Take als into account that there are car-industries like Mercedes is buying technology from BYD and countries which are already producing Chinese EV’s within Europe’s surroundings. It is de European car industry who has to react with better products.
The European car industry colluded to slow advancements in their auto industry to reduce costs. It spawned dieselgate.
Essentially, certain Western European countries are banning EVs from
China. When the U.S. Chip Act banned the sales of semiconductor to China, China semiconductor industry exploited the reduced competition by investing more in R&D while expanding chip manufacturing CC will will ban French wines while domestic wine producers will exploited the restricted wine market by reinventing the Chinese wine making industry.
Naw Europe does well taxing up the chinese cars. Yes even though I like my cars to be cheaper, cause they're unfathomably expensive here compared to other continents. But German and French companies pay their taxes. To be outpriced by chinese brands who are backed by a content-level-government would be unfair. Europe is well aware of Chinese antics too, where they buy out companies (especially distribution and harbour based ones) in order to set up trade routes of their own, bypassing import customs, allowing them to outprice any honest local business. This goes beyond cars. If only African countries would crack down on the chinese and stop the hidden cobalt trade routes they got going on over there...but I guess that free infra structure has to be paid somehow.... be it with the cobalt and lips sealed tight.
It's all about protection of EU car industries...
Europe is protecting horse buggy against gasoline automobile
VW, BMW and Mercedes are against it.
@@ISuperTed Yes but have u heard about von Leyen 🤣🤣🤣
Close. It is also about protection of the EU car industries operating in China.
Protect from what? BYD Sold in Europe 2023 ca.16.000 cars, 2024 will be not better. Insignificant.
Also, BYD overtakes Honda by Sales World wide in July. Agriculture in Industrialized Countries all have subsidies from their Government. Whatever Agricultural Product from EU can be replaced by Latin American countries and also Russia, and Luxury products like Ham from Spain, Brandy from France and Gucci are not a necessity but is important for vote count in their Country. Look at Australia, Beef,Lobster wine and Barley is causing hardship to their sector, a month of Wine Sales since the lift of Tariffs worth more than 3years for Australia and the EU has higher Subsidies than Australia so it is up to EU and no EV car companies will invest in the country that vote for the imposition of Tariffs. BYD will have 3 car Companies to set up overseas with 150000 for first 2 years of Production and the 3red year with 400000 in Plan so it will be interesting to see any plant in EU after the vote.
Government probably has a place in subsidizing industry seed money for tech that needs to be done but is not. An example would be NASA supplying money to 3 competing companies to build commercial space flight. Today SpaceX has lowered the cost of space flight by 90% compared to NASA.
But Government has no place in picking who wins and who looses in the marketplace.
Correction : Tesla's Chinese made cars tariffs are easing from 20.8% down to 9%. So, expect Tesla to lower Chinese made Tesla Model 3 Higland cars to below €30.000 from October. Good news for the European consumer in the short run.
To clarify that is 9% on top of 10% so 19%. Tesla could make them in Germany or the US if the tariffs go too high.
@@danharold3087 Exactly, down from 30.8% to a mere 19% is huge. Today that model must be built in China because it uses the CATL LFP battery. When Giga Berlin invest in a LFP manufacturing here in Europe, it will become even better. If not the Chinese government will impose a sanction banning CATL a business cooperation with an American company in EU.
@@TrumanBurbankFE Tesla and China have a generally good relationship. They need each other. That could change. If needed I expect Tesla to be making a 4680 that is LFP or will stand in for it. 4680 is the can size not the chemistry.
Volume Is Free. Please Turn It Up At Your End. Or Closer To The Microphone. Great Informative Video
I had to deal with this when I was making content. If your the only one posting about it the problem is on your end.
The automobile industry is very important in Europe. We need time to adapt. Europe, unlike the United States and Canada (100% taxes) has decided on reasonable, temporary and differentiated taxes according to the manufacturers. Chinese manufacturers will build factories in Europe. Competition will then be total and our manufacturers will have had their chance. For Europe, China is not an enemy but a formidable competitor with whom it trades. 🇪🇺
They failed to mention that China is the #1 exporter of cars in the world. #2 is Japan. And china is increasing its lead.
They Export but cannot sale becaise no one want them.
Thanks for objektive reports. All countries substituting their industries. Europe, the USA and Australia subsidize their industries for decades. Therefore they have overproduction to export. Double standards.
No, not if it is still in their Favor.
Tariff = consumer pays more
Sad but true.
The reason China keeps doing what you don't understand is the CPC has to answer to their people. They said it to their people. No matter what they say or do, they do it for political stability. They don't care what the US or EU do. They know they can't be hurt as long as they rule the country. They have everything to survive, keep growing, and strike back to win. The CPC runs the country as a gigantic for-profit organization. They have all the resources.
Like a Corporation... Singapore comes to mind. CEOs are not elected.... 😊😊😊😊.
Open world trade is not working for the benefit of most ordinary citizens. Production of most goods and services in China, or other nations where wages and conditions cost less than one's home country mainly benefits entrepreneurs and leaves the importing nations with less jobs and skills. Every nations should produce almost all they need, where possible. This provides jobs, maintains skills and contributes to a completes or more balanced and healthy economy. China cannot continue to be the factory for much of the world. Each nations must resumne production of goods and services that has been expected of Chine for the last 30 yo 40 years. The governments of each nation should also strengthen their governing on behalf of their citizens, not for greedy entrepreneurs, leaving opportunity for reasonable profits to be made, but not extreme exploitation of 'the people'. By the way, good work with your channel. Try to get a little more rest, as I need to do also.
many countries encourage their industry by subsidising it but when they start threatening them is not alright but vice versa is not alright to put tariifs on theirs.
What a shame :( Instead of raise from our decadence chair and taking our lessons learned regarding price/value into the production of our EVs they raise taxes for the import. As if THAT would change my interest one of ou,r worse and to expensive, cars, that are in wide parts manufactured in China anyway.
Don't mess with China
If EU/US think all this took what throw money at the problem then why don’t they do it too? Because there was much more to it.
Mode 3 only increased by 3% in Denmark (Europe) where I live. Also people/workers in China is working under slave like conditions, living and working in the factory. Also most Chinese car manufacturers are loosing money on producing/selling EV’s. So the government is pumping a lot of money into the car manufacturers. This makes the Chinese EV’s an unfair competition. What made you love China and defend China all of a sudden? I try my best to avoid Chinese products, but it’s difficult. But as more people boycott Chinese products, they will slowly step down as sucking money out of all of us to power their bad ways of treating people.
Play stupid games, win stupid prizes.
I’m surprised China doesn’t subsidize precision fermentation to reduce dairy imports. Tony Seba is saying the that is going to replace dairy all together, but the product reviews I have seen are not that favorable. Not as easy replace dairy are he makes it sound….
Previous Tariff issues the same between Aus and China on Wine, Live Animals etc..... Where did Holden/Ford Aus go??? 🥲🔥 Why do we not have lots of good cheap Chinese EVs? Why did we start getting lots of Euro designed cars? 🤐 You know what I know.... Closed door meetings between high rank politicians is what I think.
Well as an Englishman living in England, this doesn’t really make much difference to what vehicle I would drive!!
I believe the Chinese will back off.
You shouldn’t say Europe! Some countries in Europe have forced the EU.
Many countries like Germany and Sweden amongst others have said No to increase on car tax from China.
China is using the legal jargon to build a case for the World Court which will at least reduce the tariffs or perhaps totally eliminate the tariff if the EU did not use a fair and clear methodology.
China has a major advantage over Europe . It's policy makers and politicians are not slaves to election cycles .