Chinese state media: US reported tariffs of Chinese EV to backfire
Chinese state media: US reported tariffs of Chinese EV to backfire
The US is reportedly planning to levy tariffs on imports from China’s emerging industries, including a potential 100 percent tariff on Chinese electric vehicles (EV). The move, which comes as the US continues to hype the so-called Chinese “overcapacity” in green products, is facing more challenges and questions.
Chinese state media Global Times argues that the US’ protective measures reveal its defensive mindset and its struggles in competing with China’s new energy industries. This trade protectionism will backfire.
The Biden administration plans to impose major new tariffs on EVs, semiconductors, solar equipment and medical supplies imported from China. Tariffs on EVs, in particular, could quadruple from the existing 25 percent to 100 percent.
The tariffs, expected to be announced on Tuesday, come as the US has been hyping China’s “overcapacity” in emerging industries to protect its own industry while intensifying the subsidies.
China put out new rule to tackle unfair competition in internet sphere
China’s State Administration for Market Regulation (SAMR) on Saturday issued an interim regulation against unfair competition in the cyberspace, which provides a legal basis to protect the rights of business operators and vast Chinese consumers.
The move showed that the regulation and development of the internet and e-commerce industries are being ramped up, following a big jump in the number of market players online, Chinese state media noted.
The regulation was issued to prevent and stop unfair competition in the internet industry, maintain market order, encourage innovation, protect the legitimate rights and interests of market operators and consumers, and promote the sound and persistent development of the digital economy.
Strongest geomagnetic storm in two decades erupts with limited impact on public
From Northwest China’s Xinjiang Uygur Autonomous Region to Northeast China’s Heilongjiang Province, multiple northern regions across China are among the best destinations to enjoy the stunning beauty of the aurora – a breathtaking gift brought by the strongest geomagnetic storm in two decades, which attracts visitors and photographers to rush for the mesmerizing display by the nature.
The Earth’s magnetic field experienced a massive geomagnetic storm (kp=9) on the night of Friday to the early hours of Saturday, due to a coronal mass ejection event from the sun. At 9:32 am on Saturday, the National Space Weather Monitoring and Early Warning Center under the China Meteorological Administration issued a red alert for geomagnetic storms, predicting moderate to high solar activity levels in the next three days, with the possibility of M-class or even X-class flares, leading to small to large geomagnetic storms, and even severe geomagnetic storms.
Regions such as Altay in Xinjiang, Mohe in Heilongjiang, and North China’s Inner Mongolia Autonomous Region were hotspots for tourists and photography enthusiasts eager to witness this natural wonder.