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☆ U.S. tariff hikes on China EVs will benefit these global stocks, Bernstein says
  + stars: | 2024-05-21 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +3 min
On top of that, the Inflation Reduction Act (IRA) subsidies to reshore the battery supply chain to the U.S. are also "having the desired impact," it added. It named companies such as LG Energy Solution and Samsung SDI which have more than 65% of U.S. battery manufacturing capacity. LG Energy Solution has the additional benefit of being the most exposed to growth and IRA benefits, they added. But Bernstein said it prefers Samsung SDI to LG Energy Solution for now, as the former offers "growth at a reasonable price." Bernstein gave Samsung SDI and LG Chem an outperform rating and LG Energy Solution a market perform rating.
Persons: Bernstein, Freyr, — CNBC's Michael Bloom Organizations: U.S, LG Energy, Samsung SDI, LG Chem, Umicore, Basf, LG, Panasonic, Tesla, SolidEnergy Systems Locations: U.S, North America, decouple, China, South Korea, Europe
☆ Congressman John Moolenaar on China tariff hike: This is simply 'leveling the playing field'
  + stars: | 2024-05-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCongressman John Moolenaar on China tariff hike: This is simply 'leveling the playing field'Congressmen John Moolenaar and Raja Krishnamoorthi join CNBC's 'Squawk Box' to discuss why the Biden administration's new China tariff hike should receive bipartisan support, how this move could protect American industries, why TikTok should not be controlled by the Chinese Communist Party, and more.
Persons: John Moolenaar, Raja Krishnamoorthi, Biden Organizations: Chinese Communist Party Locations: China
☆ Biden Will Raise Tariffs on Chinese Electric Vehicles, Chips and Other Goods
  + stars: | 2024-05-14 | by ( Jim Tankersley | ) www.nytimes.com   time to read: +1 min
President Biden will announce on Tuesday that he is raising tariffs on an array of Chinese imports, including electric vehicles, solar cells, semiconductors and advanced batteries, in what he calls an effort to protect strategic American industries from a new wave of competitors that are unfairly subsidized by Beijing. The president will also officially endorse maintaining tariffs on more than $300 billion worth of Chinese goods that were put in place by President Donald J. Trump. Mr. Biden criticized those tariffs as taxes on American consumers during his 2020 run for the White House. Mr. Biden’s moves are the latest trade-war escalation from a president who initially pledged to repeal at least some of the Trump tariffs but now refuses to cede any ground to his rival in a tough-on-China appeal to swing voters in the industrial Midwest and beyond. They also reflect Mr. Biden’s efforts to build on Mr. Trump’s consensus-defying trade confrontation with China while focusing it on sectors of strategic importance to the United States, like clean energy and semiconductors.
Persons: Biden, Donald J, Trump, Biden’s Organizations: White Locations: Beijing, China, United States
☆ Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and more
  + stars: | 2024-05-14 | by ( Rebecca Picciotto | ) www.cnbc.com   time to read: +2 min
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022. The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. Starting this year, President Joe Biden will quadruple tariffs on imported Chinese electric vehicles, from 25% to 100%. And tariffs on some Chinese steel and aluminum imports will increase more than three-fold, from 7.5% today up to 25%. First-time tariffs will be imposed on Chinese imports of medical needles and syringes, as well as massive ship-to-shore cranes, the White House said in a fact sheet.
Persons: Joe Biden, Xi Jinping, Biden, Katherine Tai Organizations: . Trade Locations: Bali , Indonesia, China
☆ Biden’s Trade Moves Raise Tensions Abroad but Draw Cheers in Swing States
  + stars: | 2024-04-09 | by ( Jim Tankersley | ) www.nytimes.com   time to read: +1 min
President Biden has intensified efforts to shield American industries from foreign competition in an election year, as he courts blue-collar workers and attempts to avoid being outflanked on trade by his Republican rival, former President Donald J. Trump. The moves have strained Mr. Biden’s relationships with international allies and rivals alike, drawing charges of protectionism from diplomats and some economists, including top Chinese officials during Treasury Secretary Janet L. Yellen’s recent trip to Beijing. But the measures have cheered labor unions, environmental groups and other key members of Mr. Biden’s political support base, particularly in the swing states of the industrial Midwest. Mr. Biden and his administration have recently signaled they are preparing new tariffs and other measures to block cheap electric vehicles and other clean-energy imports from China. Those efforts, combined with new limits on American investment in China, restrictions on exports of advanced technology and subsidies for the U.S. semiconductor industry, fueled major tensions during Ms. Yellen’s visit.
Persons: Biden, Donald J, Trump, Janet L, Yellen’s Organizations: Republican, Mr Locations: Beijing, China, U.S
☆ Election 2024 Nikki Haley’s team says she will give a major speech today about the state of the race.
  + stars: | 2024-02-20 | by ( Chris Cameron | Jazmine Ulloa | Reid J. Epstein | ) www.nytimes.com   time to read: +8 min
Former President Donald J. Trump, the front-runner for the Republican nomination, has repeatedly attacked central elements of the Inflation Reduction Act, including tax credits for purchasing electric vehicles. “Otherwise it’s all going to be on the chopping block.”The Inflation Reduction Act contains various tax credits and other subsidies to incentivize companies to deploy more clean energy projects. It also includes tax breaks for consumers to offset the cost of electric vehicles, heat pumps and other energy-efficient appliances. That could cut the number of eligible vehicles, potentially hindering progress toward the Biden administration’s goal of having electric vehicles make up half of new car sales by 2030. The estimated cost of the Inflation Reduction Act’s energy incentives has effectively doubled since it passed, largely because forecasters believe the legislation will be more popular than they originally expected.
Persons: Biden, Donald J, Trump, “ We’ve, Frank Pallone Jr, Thomas Pyle, ’, Pyle, Kevin Book, Sean Rayford, ” Mr, John Ketchum, Ketchum, “ It’s, Mr, Sasha Mackler, David Carroll, we’ve, Carroll, T.J . Kirkpatrick, ” Michael Kikukawa, Lori Esposito Murray, Ms, Murray, Jeanna Smialek Organizations: Republican, Democratic, Company, Biden, House Energy, Commerce, American Energy Alliance, ClearView Energy Partners, The New York Times, NextEra Energy, Republicans, Center, Engie, White, Economic Development, Conference Board, “ Locations: States, China, New Hampshire, America, Indiana, Texas, Irvine , Calif
☆ Zelenskiy says Ukraine, US will hold military industry conference next month
  + stars: | 2023-11-17 | by ( ) www.reuters.com   time to read: +2 min
Ukraine's President Volodymyr Zelenskiy addresses a meeting of the Ukraine Defense Contact Group ahead of a two-day NATO Defense Ministers Council at the alliance headquarters in Brussels, Belgium, October 11, 2023. Olivier Matthys/Pool via REUTERS/File Photo Acquire Licensing RightsNov 17 (Reuters) - Ukraine and the United States will hold a military industry conference in December, Ukrainian President Volodymyr Zelenskiy said on Friday. "During my visit to Washington, President Biden and I agreed on specific steps we can take together. In October, Ukraine set up a joint defence venture with German arms manufacturer Rheinmetall AG (RHMG.DE) to service and repair Western weapons. In September, it hosted an international defence industry forum with more than 250 Western weapons producers.
Persons: Volodymyr Zelenskiy, Olivier Matthys, Kiyv, Zelenskiy, Biden, Yuliia Dysa, Louise Heavens, Heavens Organizations: Ukraine Defense Contact, NATO Defense, Ukrainian, Rheinmetall AG, Thomson Locations: Ukraine, Brussels, Belgium, United States, Kyiv, Washington
☆ Investing in Space: Deutsche Bank draws investors, companies for NYC for summit
  + stars: | 2023-11-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com   time to read: +3 min
Yesterday Deutsche Bank held a Space Summit conference here in New York City. Investors want to invest in space, but investors understand that this is a long investment cycle," Lohiya said. In general, the space sector is "much more rationalized" than bubble times of two or three years ago, Lohiya noted. Lohiya said the space sector is different than other fast-growing American industries, such as electric vehicles, clean energy or fintech. There's no doubt of a liquidity crunch that reaches beyond the space sector.
Persons: CNBC's Michael Sheetz, I've, Lohiya, There's Organizations: Deutsche Bank, CNBC, Rocket Lab, Deutsche, Investment Banking, Space Locations: New York City, New York
☆ Hollywood writers reach 'tentative agreement' with studios after 146 days
  + stars: | 2023-09-25 | by ( Huileng Tan | Lloyd Lee | ) www.businessinsider.com   time to read: +6 min
The Writers Guild of America reached a tentative agreement with Hollywood studios on Sunday. AdvertisementAdvertisement"The WGA and AMPTPT have reached a tentative agreement," the AMPTP email said; the WGA's version was typo-free. The tentative agreement comes after the guild and the AMPTP — which represents major studios and streaming services, including Warner Bros. They were joined on the picket lines by over 160,000 union members of SAG-AFTRA, the actors' union, on July 14. Broadcast networks' fall TV schedules were loaded with reality series, whose writers aren't subject to the WGA agreement.
Persons: Bob Hopkinson, Netflix —, they've, Alex O'Keefe, O'Keefe, Keefe, Drew Barrymore, Barrymore, Insider's Reed Alexander, Alison Brower, TUSC Organizations: Guild of America, Hollywood, WGA, Service, Alliance, Television Producers, Warner Bros, Disney, Netflix, SAG, Guild, Union Solidarity Coalition Locations: Wall, Silicon
☆ China's economy is struggling, but it might not be all that bad for the US
  + stars: | 2023-08-28 | by ( Noah Sheidlower | ) www.businessinsider.com   time to read: +5 min
US imports from China are down this year, and direct investment in China is a sliver of the US GDP. However, William Lee, the Milken Institute's chief economist, told Insider China's economic stumble might not be all bad for the US. Meanwhile, Chinese imports of US goods, which may continue to slow, amounted to less than 1% of the US GDP, suggesting a reduction in Chinese imports wouldn't drastically harm the US economy. In addition, China's slowing economy has already chipped away at some American companies' revenues, including DuPont's and Danaher's. AdvertisementAdvertisementThough China's economy has been plagued by a number of crises, including low consumer confidence, many Americans may not have to worry about the downturn hurting their wallets.
Persons: Joe Biden, Janet Yellen, William Lee, Milken, Lee, Paul Krugman, —, Luis Torres, it's Organizations: Service, Milken Institute's, US, New York Times, Commerce Department, Federal Reserve, Bank of England, European Central Bank, Federal Reserve Bank of Dallas Locations: China, Wall, Silicon, United States, Ukraine, Russia, Europe, Vietnam, India, Mexico, Hong Kong, Canada, American
☆ Israel: U.S. approved missile defense sale to Finland
  + stars: | 2023-08-02 | by ( ) www.reuters.com   time to read: 1 min
JERUSALEM, Aug 2 (Reuters) - Israel's Defense Ministry said on Wednesday that the United States has approved the sale of a co-developed missile defense system to Finland. The ministry said that having received the green light from Washington, Israel can complete the sale of the advanced air-defense system David's Sling to Finland in a 316 million euros ($345.80 million) deal. The Finnish version of the system will be jointly developed by Israeli and American industries, led by Israel's Rafael Advanced Systems and Raytheon Technologies Cooperation, in partnership with Finnish industries, the ministry said. ($1 = 0.9138 euros)Reporting by Ari Rabinovitch Editing by Steven ScheerOur Standards: The Thomson Reuters Trust Principles.
Persons: Israel's Rafael, Ari Rabinovitch, Steven Scheer Organizations: Israel's Defense, Systems, Raytheon Technologies Cooperation, Thomson Locations: United States, Finland, Washington, Israel
☆ Focus: In Mexico, private cash races to plug nearshoring energy crunch
  + stars: | 2023-07-26 | by ( Isabel Woodford | Thomson Reuters | Isabel Is A British-Spanish Journalist Based In Mexico City. She Joined Reuters In As Part Of The Latin America News Hub | ) www.reuters.com   time to read: +7 min
Sergio Arguelles, president of the Mexican Association of Private Industrial Parks (AMPIP), said parks' investment in state energy assets today is unprecedented. "Mexico would be very well positioned to take advantage of nearshoring if it didn't have such an energy problem," he said. THE SHRINKING STATEMexico's approach to its groaning electricity grid is in contrast to its fast-growing peers, which tend to either incentivize private energy contractors or have state utility companies with deep pockets. Still, there is some hope for the new wave of 47 planned industrial parks. Yet critics say Mexico's push for state control over energy distribution while also neglecting it is self-sabotage.
Persons: Daniel Becerril, Sergio Bermudez, Barbie, Mattel, Bermudez, …, Eduardo Martinez, Sergio Arguelles, Aaron Gallo, Gallo, Andres Manuel Lopez Obrador's, David Gantz, Electrobras, AMPIP's Arguelles, Lopez Obrador, Ramses Pech, Hans Joachim Kohlsdorf, Zonia Torres, Alfredo Nolasco, Isabel Woodford, Marguerita Choy Organizations: Federal Electricity Commission, REUTERS, MEXICO CITY, Unilever, Mexican Association of Private Industrial Parks, American Industries, Industries, CFE, U.S, Baker Institute, Thomson Locations: Mexico's, Santa Catarina, Monterrey, Mexico, MEXICO, Nuevo Leon, Brazil, Guanajuato
☆ Opinion | The New Climate Law Is Working. Clean Energy Investments Are Soaring.
  + stars: | 2023-05-30 | by ( Brian Deese | ) www.nytimes.com   time to read: +4 min
The largest increase is projected to be in industrial and manufacturing activity for hydrogen, carbon capture, energy storage and critical minerals — areas key to long-term energy security. The law did not provide all the necessary tools to achieve national goals for expanding our supply of clean energy. First, lawmakers must make it easier to build clean energy infrastructure in America. The Federal Energy Regulatory Commission should more aggressively clear backlogs preventing clean energy projects from connecting to the grid. Policymakers should consider new incentives to expand energy capacity, like conditioning federal assistance to states and localities that reform land-use policies to allow clean energy development.
☆ How Electrifying Everything Became a Key Climate Solution
  + stars: | 2023-04-14 | by ( Nadja Popovich | Brad Plumer | ) www.nytimes.com   time to read: +19 min
Water heating Air conditioning Space heating Refrigeration Washing and dry. Refrigeration Air conditioning 16% electric Water heating 99% Refrigeration Air conditioning Residential Cooking Space heating Refrigeration Other 96% Lighting and electronics Lighting and elec. Cooking 2021 Current Electricity Use Electricity as percent of total energy consumed in 2021 36% Water heating Space heating Washing and dry. Cooking 2050 Net Zero Pathway Electricity as percent of total energy consumed in a high-electrification scenario Water heating Space heating 63% Washing and dry. Air conditioning Refrigeration Other Air conditioning Water heating 99% Refrigeration Space heating 96% Other Lighting and electronics Lighting and elec.
☆ Watch CNBC's full interview with Dennis Unkovic on Chinese economy amid Covid spread
  + stars: | 2023-01-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Dennis Unkovic on Chinese economy amid Covid spreadDennis Unkovic, partner at Meyer Unkovic and Scott, joins 'Power Lunch' to discuss the lunar new year travel boom in China, concerns around China's economic health in 2023, and American industries with a reliance on China.
☆ The trade issues at stake for US and China economies at Indonesia meeting
  + stars: | 2022-11-14 | by ( Juliana Liu | ) edition.cnn.com   time to read: +7 min
Frustrated by China’s huge trade surplus and accusing it of stealing US intellectual property, former President Donald Trump slapped tariffs on $50 billion of Chinese goods in June 2018. China, with its nearly $18 trillion economy, has in recent years been the main driver of global growth. China responded by slapping tariffs of its own on iconic American products like Harley-Davidson and Jack Daniel’s. Tech curbsBekink said she did not expect any dramatic shifts in trade flows to emerge as a result of the Biden-Xi meeting. US imports of semiconductors from China are 26% lower than before the imposition of 25% tariffs, according to Peterson.
☆ 15 venture capitalists that early-stage sports tech, health, and wellness founders should know if they're looking to raise capital
  + stars: | 2022-10-19 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +17 min
Other recent investments include Bumble, Goop, Spring Health, Chief, Found, Daily Harvest, and Blueland. Recent investments include the sneaker-trading platform Tradeblock, which touts itself as an alternative to StockX and Goat. Recent investments include AnyDistance, Balanced, and Juna. Her recent investments include Calibrate, DUOS, Dutch, and Buffalo Market, a food distributor focused on plant-based and organic foods. Recent investments include pickleball products company Revolin, live-sports artificial-reality company Quintar, recovery products company Alleviate, and community cycling app Preem.
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