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      Chinese Automakers Show Force at Paris Auto Show

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      Weeks after Europe imposed additional tariffs on electric vehicles made in China, the country’s car companies were defiant at France’s leading auto event.China’s ambitions to become a force in the European car market were on full display this week at the Paris Auto Show, where a record number of the country’s automakers unveiled cutting-edge electric models despite a recent European Union decision to impose anti-subsidy tariffs on their vehicles.At the event, designed to showcase Europe’s top automakers, the displays that drew some of the biggest crowds were those from the likes of BYD, Leapmotor and Xpeng, which boasted how the speed of their technological advances — including the use of artificial intelligence — would help them compete with, or even surpass, their European rivals in the electric vehicle revolution.Europe has an ambitious goal of fully transitioning to electric vehicles by 2035, and the continent’s biggest carmakers — among them Renault, Stellantis, BMW and Volkswagen — all put forward new models aimed at appealing to European consumers. But Beijing is also eager to get in on that game, with the nine Chinese automakers at the Paris show appearing undeterred by what they view as protectionist efforts to slow their advance.BYD, which made its European debut at the show two years ago, displayed seven models, which its officials said used electric and hybrid technology that surpassed that of its European rivals.At the BYD stand, a large-screen video displayed landmarks from around the world, from the Christ the Redeemer statue in Rio de Janeiro to the Arc de Triomphe in Paris. It was a visual reminder of the company’s ambition to make a Chinese car appealing to Western buyers.The BYD Yangwang U8 at the Paris Auto Show. BYD displayed seven models, which its officials said used electric and hybrid technology that surpassed that of its European rivals.Dmitry Kostyukov for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      None of Trump’s Economic ‘Solutions’ Hold Any Water

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      Ask Donald Trump what he’ll do about any of the nation’s economic problems and he’ll give you one of three answers. He’ll either promise to cut taxes, raise tariffs or deport millions of people. When asked about child care, for example, Trump told the Economic Club of New York that he would raise “trillions” of dollars from new tariffs on virtually every good imported into the United States.This, of course, shows a fundamental ignorance of how tariffs work as well as the probable impact of a high-tariff regime on most American consumers. (The short story is that, if passed into law, Trump’s tariffs would amount to a large tax hike on most working Americans.) It’s also just not an answer. But that’s normal for the former president.On Friday, toward the end of a news conference where he attacked E. Jean Carroll — the former journalist who sued Trump, successfully, for damages relating to sexual abuse — Trump told his audience that he would discuss the latest jobs numbers. What followed was a brief rant about “foreigners coming in illegally” who “took the jobs of native-born Americans.”“And I’ve been telling you that’s what’s going to happen,” said Trump, “because we have millions and millions of people pouring into our country, many from prisons and jails and mental institutions and insane asylums. Traffickers, human traffickers, women traffickers, sex traffickers, which, by the way, that’s the kind of thing that people should be looking at, because it’s horrible.”Here, I’ll note that it is unclear whether Trump understands that “asylum” in immigration refers to seeking refuge or sanctuary and not, as he seems to think, to the kind of institution that you might find in a Batman movie.To the extent that Trump had a solution to this imagined problem, it was mass deportation. In fact, mass deportation is his — and his campaign’s — answer to a whole set of policy questions. What, for example, will Trump do about housing costs? Well, his running mate, Senator JD Vance of Ohio, says that they’ll deport 20 million people and that this, somehow, will bring prices down.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Europe Slashes Tariffs for Tesla Vehicles Made in China

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      The European Commission will charge the U.S. automaker an additional duty of 9 percent, much lower than tariffs levied on its Chinese peers for electric vehicles imported to Europe.The European Union is proposing to charge Tesla an additional tariff of 9 percent on its vehicles imported from China while other automakers face rates as high as 36.3 percent, as part of efforts to protect European producers from unfair competition.The updated tariffs, announced in Brussels on Tuesday, would represent a significant increase for major companies making electric vehicles in China and are meant to level the playing field with Chinese E.V. manufacturers, many of which enjoy subsidies from Beijing. Final tariffs will come on top of the existing 10 percent already charged for electric vehicles produced in China.The European Union began investigating Chinese automakers in October. Officials said they lowered the rate for Tesla, down from a proposed 21 percent, because the company did not benefit from the same level of subsidies from the Chinese government as leading Chinese automakers. Tesla did not immediately respond to a request for comment.The tariffs for Chinese automakers, which would go into effect for five years, all dropped slightly from an original proposal in June, ranging from 17 percent for China’s largest producer of electric vehicles, BYD, to 36.3 percent for SAIC Motor, the state-owned maker of MG Motor. Geely Auto, the parent company of Volvo Car, faces a rate of 19.3 percent.Companies that cooperated with the investigation, including the German automakers BMW, Mercedes and Volkswagen, face tariffs of 21.3 percent for cars they produce in China. Unlike Tesla, which has its own independent production site in Shanghai, the German car companies are all involved in joint ventures with Chinese automakers. Because Volkswagen also has an entity with SAIC, some of its cars will be subject to the highest tariffs.Compared with the 100 percent tariffs the Biden administration imposed on Chinese E.V.s in May, the European proposals reflect what experts say is a desire to maintain trade with China, while protecting domestic production. Since the initial tariffs were announced several Chinese automakers have announced plans to shift production to Europe.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Germany Hopes to Head Off a Trade War With China

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      As the European Union moves to impose tariffs on Chinese cars, Germany, with an auto industry deeply enmeshed with China, is stuck in the middle.With billions of dollars in trade between China and the European Union at stake, Germany’s second-highest cabinet official called on Saturday for the two sides to engage in talks to try to resolve an escalating dispute over tariffs.Robert Habeck, who is Germany’s vice chancellor and minister for economic affairs and climate, said that he expected talks to begin soon between China and European officials. He expressed a hope that tariffs could be avoided.Still, he added that tariffs could be justified if the commission’s concerns about China’s subsidies for its electric car industry were not resolved.This month, the European Commission, the executive body of the European Union, proposed tariffs of up to 38 percent on electric cars from China, on top of an existing 10 percent tariff on imported cars. The commission said it found that China’s electric car sector was heavily subsidized by the government and state-controlled banking system.“These tariffs are not punitive,” Mr. Habeck said, adding that the tariffs are intended to offset subsidies that violate World Trade Organization rules.But Chinese officials strongly criticized the European tariffs after meeting with him. Wang Wentao, the commerce minister, described them as protectionist and called on Germany to help end them. “It is hoped that Germany will play an active role in the E.U. and promote the E.U. and China to move toward each other,” the ministry said in a statement.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      U.S. Adds Tariffs to Shield Struggling Solar Industry

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      American solar manufacturers are pushing for further protections for their new factories against cheaply priced imports from China.Tariffs aimed at protecting America’s solar industry from foreign competition snapped back into place on Thursday, ending a two-year pause that President Biden approved as part of his effort to jump-start solar adoption in the U.S.The tariffs, which will apply to certain solar products made by Chinese companies in Southeast Asia, kicked in at a moment of growing global concern about a surge of cheap Chinese solar products that are undercutting U.S. and European manufacturers.The Biden administration has been trying to build up America’s solar industry by offering tax credits, and companies have announced more than 30 new U.S. manufacturing investments in the past year. But U.S. solar companies say they are still struggling to survive as competitors in China and Southeast Asia flood the global market with solar panels that are being sold at prices far below what American firms need to charge to stay in business.That has forced President Biden to make an uncomfortable choice: Continue welcoming inexpensive imports that are helping the United States transition away from fossil fuels, or block them to protect new U.S. solar factories that are benefiting from taxpayer money.The tariffs that take effect Thursday encapsulated that dilemma. The levies, which apply to certain solar products coming to the United States from Cambodia, Thailand, Malaysia and Vietnam, were approved two years ago, after U.S. officials ruled that some Chinese firms were trying to dodge preexisting American tariffs on China by routing solar panels through other countries. The exact tariff rate depends on the company but could be more than 250 percent.The Chinese firms had set up factories in Southeast Asia, but Commerce Department officials said that some were not doing substantial manufacturing there. Rather, they were using sites in those countries to make minor changes to Chinese-made solar products, and then shipping them to the United States tariff-free, the ruling decided.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      G7 Finance Ministers Close Ranks as Tensions with Russia and China Fester

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      Western economic officials projected a united front, and braced for retaliation, as they prepped tougher sanctions and tariffs.Top finance officials from the world’s advanced economies moved toward an agreement on Saturday over how to use Russia’s frozen central bank assets to aid Ukraine and pledged to unite against China’s dumping of cheap exports into their markets, aiming to marshal their economic might to tackle twin crises.The embrace of more ambitious sanctions and protectionism came as finance ministers from the Group of 7 nations gathered for three days of meetings in Stresa, Italy. The proposals under consideration could deepen the divide between the alliance of wealthy Western economies and Russia, China and their allies, worsening a global fragmentation that has worried economists.Efforts by the Group of 7 to influence the two powerful adversaries have had limited success in recent years, but rich countries are making a renewed push to test the limits of their combined economic power.In a joint statement, or communiqué, that was set to be released on Saturday, policymakers said they would stay united on both fronts as geopolitical crises and trade tensions have emerged as the biggest threats to the global economy.“We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine,” the statement, which was reviewed by The New York Times, said.Regarding China, the finance ministers expressed concern about its “comprehensive use of nonmarket policies and practices that undermines our workers, industries, and economic resilience.” They agreed to monitor the negative effects of China’s overcapacity and “consider taking steps to ensure a level playing field.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      How Companies Dodge Tariffs

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      Protectionist trade policies are popular on both the left and right. But some economists say they’re likely to backfire.No matter who wins the White House and control of Congress this autumn, one aspect of trade policy is likely to endure: Washington’s tough-on-China protectionist stance. But several trade experts predict that the America-first model of slapping tariffs on adversaries — as President Biden did this week — will backfire.Critics of tariffs and export restrictions say they not only will potentially exacerbate inflation and drag down economic growth, but are also likely to fail for a simpler reason: Chinese companies may see their businesses slowed down by the restrictions, but have found ways to beat them.As Alex Durante, an economist at the Tax Foundation, a nonpartisan think tank that works with policymakers in the United States and Europe, bluntly put it: “They don’t work.”Huawei has shown that companies can find workarounds. Last year, the Chinese telecom giant unveiled the Mate 60, a smartphone powered by a high-end semiconductor. The new product raised eyebrows in Washington because the advanced chip was precisely the kind of technology that the Biden administration was trying to keep out of China’s hands through the passage of the CHIPS Act a year earlier.Huawei’s breakthrough was less a breach of international trade rules than a result of a company’s using a web of gray channels to get the banned materials it needed to make the chips, concluded Douglas Fuller, an associate professor at Copenhagen Business School. “America’s flimsy controls” of those suppliers helped Huawei, he wrote in a recent research report.A similar approach could work for electric vehicles. Among the $18 billion worth of increased tariffs on Chinese-made goods that Biden announced this week, E.V.s were a major focus. The levies jumped to 100 percent from 25 percent.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Biden Looks to Thwart Surge of Chinese Imports

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      The president has proposed new barriers to Chinese electric vehicles, steel and other goods that could undermine his manufacturing agenda.President Biden is warning that a new surge of cheap Chinese products poses a threat to American factories. There is little sign of one in official trade data, which show that Chinese steel imports are down sharply from last year and that the gap between what the United States sells to China and what it buys is at a post-pandemic low.But the president’s aides are looking past those numbers and fixating on what they call troubling signs from China and Europe. That includes data showing China’s growing appetite to churn out big-ticket goods like cars and heavy metals at a rate that far exceeds the demand of domestic consumers.China’s lavish subsidies, including loans from state-run banks, have helped sustain companies that might otherwise have folded in a struggling domestic economy. The result is, in many cases, a significant cost advantage for Chinese manufactured goods like steel and electric cars.The U.S. solar industry is already struggling to compete with those Chinese exports. In Europe, the problem is much broader. Chinese exports are washing over the continent, to the chagrin of political leaders and business executives. They could soon pose a threat to some of the American companies that Mr. Biden has tried to bolster with federal grants and tax incentives, much of which comes from his 2022 climate law, U.S. officials warn.In an effort to avoid a similar fate, Mr. Biden has promised new measures to shield steel mills, automakers and other American companies against what he calls trade “cheating” by Beijing.European officials are struggling to counter the import surge, an issue they focused on this week when President Xi Jinping of China visited the continent for the first time in five years. In a meeting on Monday with Mr. Xi and President Emmanuel Macron of France, Ursula von der Leyen, the European Commission president, urged Mr. Xi to address the wave of subsidized exports flowing from his nation’s factories into Western countries.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More