ESRP Director Akira Igata appeared on BS Teletext’s “NIKKEI NEWS NEXT” (17.7.2024).
He discussed the response of the G7 countries to China’s overproduction of electric vehicles, which is making them increasingly wary. He explained that while China’s domestic consumption is falling, its industrial production is growing and it has no choice but to export the surplus, while the West, which believes that China is distorting the market by spending subsidies, is responding with tariffs. He also pointed out that Japan has not raised tariffs in the same way as the U.S. and Europe because the World Trade Organization has become a battleground between the U.S. and China, and because they are concerned that the tariffs could turn into a retaliatory war.
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