[Fasces]

President Joe Biden will double, triple and quadruple tariffs on some Chinese goods this week, unveiling the measures at a White House event framed as a defense of American workers, people familiar with the matter say.

Biden will hike or add tariffs in key sectors after nearly two years of review. The total tariff on Chinese electric vehicles will rise to 102.5% from 27.5%, the people said, speaking on condition of anonymity ahead of the announcement. Others will double or triple in targeted industries, though the scope remains unclear.

https://fortune.com/2024/05/12/joe-bide ... ies-trump/

This is a redux of the 1970 for US automakers - when cheap and innovative Japanese cars flooded the market and forced many of the legacy automakers out of business. Now its EVs. This sort of protectionism is a mask for a lack of US leadership or investment. They're abandoning markets in Africa, South America, or Europe to protect domestic market share, but this is not addressing the symptoms of Americans falling behind. Tesla in China is a joke, BYD and Niu blow them out of the water, and using protectionism to protect legacy corporate interests rather than nascent developing industry is nothing more than delaying the inevitable. If Trump wins, with his promises to the oil and gas industry, expect it to get even worse.

US automakers are legacy rent-seekers not worth protecting but the entire system is designed to keep these zombies alive. There are only about 3000 actual liquid stocks that can be put into etfs, pension funds, etc. These companies will never die because if they do, grandma is going on welfare and some retiree can’t buy a new golf club. That will never happen with the current octogenerian guard. What that also means is trillions of dollars from pension funds and 401ks gets piped into ONLY 3000 or so companies that are listed on the stock market and all American effort is wasted on protecting these legacy rent-seekers.

America has millions of businesses that are far more innovative and nimble than these zombies, but the system is full of perverse incentives for those in power to prevent them from truly competing. How many of the country's largest corporations - Google, Amazon, Apple - were disruptive 30 years ago? They've taught the old guard how to defend against it, own all the tools of innovation and buy up anyone who could compete, brought the ladder up with them, and then spent all their cash on buying back stocks to keep the stock price up rather than investing in R&D. It's been 20 years since the last great, impactful, American invention and at this rate, we'll be waiting 20 more.

[QatzelOk]

This is a redux of the 1970 for US automakers - ...

America's car companies are like AIPAC: They get whatever they want with their bribes and their extortion, the American public be damned.

The USA government wasted billions of tax dollars "baling out" the car companies a few times. And this was done despite the fact that car companies have ruined American cities and created wars for resources, along with destroying American communities and social capital through their suburban development model which they forced on us.

[Fasces]

Trump pledges to scrap offshore wind projects on ‘day one’ of presidency

Donald Trump has vowed to immediately halt offshore wind energy projects “on day one” of a new term as US president, in his most explicit threat yet to the industry and the latest in a series of promises to undo key aspects of the transition to cleaner energy.

Historic breakthrough’: China’s installed wind turbine cost drops to one-fifth of the US in green energy race

The installed wind turbine cost in China has hit a record low price, dropping 45 per cent since last year

It is now just one-fifth the equivalent cost in the United States, solidifying China’s place as a global leader in renewable energy

The USA so desperately wants it to be the 20th century forever.