China's Dominance

A Self-Defeating Move that Threatens Global Climate Efforts

Main image to the post A Self-Defeating Move that Threatens Global Climate Efforts

A Boomerang Effect on Green Transformation and Industrial Upgrading

The US decision to increase tariffs on Chinese products, including electric vehicles (EVs), lithium batteries, and solar cells, has been met with criticism from experts who believe it will backfire and hinder global efforts towards green energy transition.

The additional tariffs, announced on May 15, 2023, will raise tariffs on Chinese EV imports to 100% this year and solar cell imports to 50%. This move has been condemned by the Chinese Ministry of Commerce (MOC) as a "clear example of political manipulation" and a violation of WTO rules.

Experts believe the US tariff hike is motivated by political pandering and a desire to suppress China's burgeoning new energy industry. However, they warn that the move will ultimately harm the US itself by driving up commodity prices, disrupting supply chains, and undermining its own climate goals.

China's new energy products, particularly its EVs, are in high demand globally and play a crucial role in reducing carbon emissions. The additional tariffs will hinder the global shift towards electrification and the development of low-carbon technologies.

Despite the challenges posed by the US tariffs, experts believe China should remain steadfast in its commitment to green transformation and industrial upgrading. By improving industrial efficiency and fostering resilience, Chinese companies can overcome these obstacles and continue to drive the global transition towards a low-carbon future.

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May 21, 2023 | 05:09