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Cake day: November 24th, 2023

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  • On Wednesday, a spokesperson for China’s Commerce Ministry dismissed the additional tariff hike, telling reporters that the move “fully exposes the fact that the United States has become irrational in instrumentalizing and weaponizing tariffs.”

    “China has repeatedly stated its position on the unilateral tariffs imposed by the United States, and it has ignored the U.S.'s meaningless tariff numbers game,” the commerce official said.

    He said beijing would take “countermeasures” and see the trade war “through to the very end” if Washington continued to “infringe on China’s rights and interests.”

    China has shrugged off the latest U.S. tariff hike, dismissing the Trump administration’s threats as a “meaningless tariff numbers game.”






  • This week, China imposed more export controls on rare earths, which include materials used in high-tech products, aerospace manufacturing, and the defense sector.

    And then Trump,

    executive order signed by President Donald Trump that launched an investigation into the “national security risks posed by U.S. reliance on imported processed critical minerals and their derivative products.”














  • “The bottom line is that the world runs on imported fossil fuels under the umbrella of the Pax Americana,” said Kingsmill Bond, an energy analyst at Ember, a London-based energy think tank. “As Trump destabilizes that, then people will look to their own domestic energy sources, which in most cases means renewables and electrification.”

    The new order that Bond is describing would push the United States to the side. While this view is optimistic about global growth of renewables, heat pumps and EVs, it also indicates a slower and dirtier path for the U.S.

    Bond argues that since most countries do not have plentiful oil and gas within their borders, they need to import it and have confidence in the stability of supply and pricing. As that confidence erodes, they will look to alternatives.

    Most countries do not have substantial solar panel, wind turbine or battery production, so reliance on those resources would also require imports. But the difference compared to fossil fuels is that a shipment of solar panels, for example, can provide benefits for 30 years. The buyer isn’t signing up for dependence on daily shipments of fuel.