this post was submitted on 11 Apr 2024
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This is the best summary I could come up with:
United States Treasury Secretary Janet Yellen warned China last weekend against overproducing clean-energy products such as solar panels, wind turbines and electric vehicles (EVs) in the race to slow climate change.
In addition to the huge subsidies, the report's authors noted, Chinese producers also benefit from preferential access to critical raw materials, forced technological transfers and less domestic red tape than their foreign competitors.
"US and European nervousness is coming at a time when electric vehicle demand [in the West] has faltered a bit," Brad W. Setser, a senior fellow at the Council on Foreign Relations, told DW.
German automakers have a quarter of their foreign direct investment in China and also benefit from Chinese subsidies and they fear retaliation," Langhammer said, referring to possible tit-for-tat measures Beijing may levy in the event of higher EU tariffs.
Washington is concerned that Chinese firms will use loopholes in US trade deals with Mexico and Canada to circumvent higher import tariffs by producing Chinese-branded EVs in the two neighboring countries.
Though EU countries installed record levels of solar capacity last year — 40% more than in 2022 — the vast majority of panels and parts came from China, according to data from the International Energy Agency.
The original article contains 978 words, the summary contains 189 words. Saved 81%. I'm a bot and I'm open source!