China continues to outpace the United States in economic strategies, particularly electric vehicles (EV) and battery production. As the U.S. struggles to navigate evolving trade and supply chain challenges, China’s centralized power and capital allocation give it a significant advantage. Over the past few years, the administration of U.S. President Joe Biden has implemented various restrictions on a wide range of goods from China.
Washington’s supply chain review – highlighting the national security significance of batteries, semiconductors, critical minerals, and pharmaceuticals – laid the foundation for new industrial policies, targeted tariffs, and other measures against China’s trade practices.
China edges ahead in EV production
Joining the United States, the European Union imposed tariffs on Chinese electric vehicles earlier this year and is reportedly considering increasing these tariffs to 37.6%.
Despite these efforts on economic security, Western nations continue to lag. While the U.S. was occupied with consolidating NATO and the Indo-Pacific region to pressure China over its support of Russia, Zeng Yuqun, founder and CEO of Chinese battery manufacturer CATL, was traveling around Europe, engaging in talks with sovereign wealth funds, family offices, and automakers. High-quality journalism remains crucial for delivering accurate and reliable information in this rapidly evolving economic landscape.
