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China’s Surging Exports Tipped to Spur Global Backlash – NYT

China’s surge in exports of manufactured goods to countries all over the world is stirring a rise in trade restrictions and tariffs that is expected to intensify in coming years

Europe has begun collecting details from importers for the imposition of its 'C-Bomb', as its new carbon tax has become known, which is likely to be imposed on many goods from China in coming years. This pic shows European Council President Charles Michel meeting Chinese President Xi Jinping in Beijing (Reuters image from late 2022).


China’s surging exports of steel, cars, electronics and solar panels over the first two months of 2024 is “setting off a backlash that is gaining momentum”, according to a report by the New York Times, which said other countries are concerned that China’s move to dump subsidized products that undercut the prices of rivals’ goods and boost trade in a bid to compensate for its housing crisis. The EU, it said, had announced that tariffs will be imposed on any electric vehicles that enter the bloc from March 7, while it also mulls import restrictions on wind turbines and solar panels.

India vowed late last year to impose broad tariffs on Chinese steel, while the US is looking to tighten rules on components for cars and other products that Chinese firms send to be assembled in countries like Vietnam, Malaysia and Mexico in a bid to bypass tariffs, the report said, noting that Europe also has begun to phase in its Carbon Border Adjustment Mechanism (CBAM) – “nicknamed the ‘C-bomb’ because it will fall heavily on imports that come directly or indirectly from China” – a tax on imports based on the amount of CO2 emitted during their production. It will hit many Chinese goods from 2026 because two-thirds of power in China comes from burning coal.

Read the full report: The New York Times.




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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.


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