Subnostr

Replying to

Ricemoon

Biden imposed a series of tariffs on goods made in China:

25% on steel and aluminum

50% on semiconductors

100% on EVs

50% on solar panels

Biden (Godfather of Bidenomics) says: "China is determined to dominate these industries.

I'm determined to ensure America leads the world in them."

Reality today looks like this (global market share):

Steel: China 54% share vs US 4.3%

Aluminum: China 55% share vs US 1.5%

EVs: China 60% share vs US 8%

Solar panels: China 78% share vs US 2%

Semiconductors: China 7% share vs US 48%

Except in semiconductors, the US has about zero chance to "lead the world" in any of those industries given China already completely dominates them. And it's certainly not with tariffs that they'll catch up.

(Thanks to Arnaud Bertrand on X)

The Beave 1y ago

I'm seriously pissed about the solar panel tariff.

That's a move to prevent people from slowly weening themselves off the power monopoly. (Thanks again, Edison. 🙄)

Reply to this note

Please Login to reply.

Discussion

Ricemoon 1y ago

As you might remember they already did something similar 12 years ago... They can't even come up with new ideas... 😬

And I think you're 100% right about the "preventing people weening off the power monopoly".

https://www.reuters.com/article/idUSBRE84G19U/

The Beave 1y ago

No. I wasn't paying much attention at that time.

nami 1y ago

Yes they did that because at the time the German companies were the big producer of solar panels. It was back then when several renewable energy projects began also. But they failed anyway.

The Beave 1y ago

Of course they did.