US wary of Mexican gateway as it increases tariffs on Chinese EVs

Charles Pellegran is here for a business segment now in a bid to protect its auto industry from competition from China as it transitions towards electric vehicles. the US had quadrupled import tariffs on Chinese EVs on Tuesday, but there are concerns these cars could still enter the US market. Charles Pellegran is here and I promise you he's not going to sink. No, I I really don't want to. The button Just give U.S. business. The Biden administration has said it is watching closely at whether Chinese car companies are looking to export cars from Mexico into the United States in a bid to circumvent these tariffs, Stewart mentioned. At the same time, China's leading electric vehicle company, BYD launched its first truck in Mexico on Tuesday, and its regional chief said the company is currently in talks with three different Mexican states to choose a location for a plant that it plans to build there. Let's listen in to EU s s trade representative flagging this concern about Chinese EVs going through Mexico, as well as BYDS, head of its of America's region, responding to these concerns. The second question was on EVs and BYD in Mexico at USTR that is exactly what we are built to worry about and to be concerned with that will require a separate pathway. This is about imports from China. What you're talking about would be imports from Mexico, equally important, something that we are talking to our industry, our workers and our partners about. And I would just ask you to stay tuned, don't make a difference because we, when we build a Mexican plant, we only consider is a Mexico market and also other country's market not really considered us. So Charlotte, the concern here isn't it the free trade agreement between Mexico and the US and that agreement signed in 2020 and going up for review in 2026 allows for the free trade of any cars produced in Mexico into the United States, whether produced by a Chinese company or not. Donald Trump has suggested on the campaign trail that he would prevent this from happening. And now the Biden administration, as we saw, is also saying it's looking that issue. Chinese car companies have been putting in the work to develop their footprint in Mexico over the years to the extent that when looking at car sales in the country last year, vehicles from China are way ahead of the pack totaling over 212,000 sales. That's double more than sales of vehicles from any other country back in 2016. Cars from China, we're almost non existent in Mexico and currently Chinese manufacturers of car parts are already exporting to US clients from Mexico. So there is a precedent and A cause for concern for the US neighbour and presumably it really underlines that strategic shift if you like towards the export market for Chinese car manufacturers. Chinese car makers are basically focusing on every global market except for the United States, which is now seen as being off limits. In part, this is because of increased competition at home. There's over 100 different EV brands competing for the domestic market, and government subsidies means that brands also hold an advantage against foreign rivals. That's the argument pushed by the US and European governments. All this has LED China to become the world's top car exporter, with close to 5 million vehicles shipped out last year, as you can see there from a baseline of around 1,000,000 in the years preceding 2021. Now, another strategy for Chinese companies is to make deals with foreign car makers. This is what we've seen here in Europe. Auto giant Stellantis has set up a new joint venture with a Chinese electric car maker and will start selling in Europe this year. The new company, called Leap Motor International is 51% owned by Stellantis and will be headquartered in the Netherlands. By teaming up with China's EV startup Leap Motor, Stellantis plans to ramp up production of cheaper electric cars of under €20,000 and increase its market share. Vedeke Bahel has this. It's the home of several global car brands from Peugeot to Chrysler to Citroen. And now auto giant Group Solantis will be going further to expand its worldwide operations. Having created a joint venture with Chinese partner Leap Motor, it will soon start selling Chinese made electric vehicles in Europe Leap Motor. We are going to be able to bring faster to our markets affordable EVs that will not only contribute to the profitable growth of Leap Motors, the profitable growth of Sterantis and of course they will contribute faster and in a more efficient way to fixing the global warming issue that we have to fix as humanity. New company Leap Motor International is 51% owned by with its focus on producing affordable under €20,000. The joint venture plans to create a new model annually for the next three years in Europe allowing it to navigate potential customs duties and for Stalantis to step up global manufacturing. China's auto industry, especially the new energy vehicle industry, as well developed Many auto companies not only want to seize the Chinese market, but they also want to compete in the global market, especially the European market, with lower costs. Through China's new energy industry chain, Leap Motor International plans to start selling 2 Leap motor models in nine European countries this September before expanding to South America, India, Asia Pacific and the Middle East. The EU is investigating whether cheap Chinese car imports are distorting competition in its markets. Now let's move on to something different. Google. This is announcing it will begin providing AI generated answers at the top of its search results. This is an effort to satisfy users curiosity more quickly than via links to other web pages. It comes as competition is heating up in the AI sphere. But mounting composition is not the only challenge facing Google. Its own current and former employees staged A raucous demonstration outside its developer conference in Silicon Valley Tuesday, protesting the company's involvement in Israel's occupation of Palestinian territories. Ryan Quinn has this Google unveiling the next step in its AI evolution. Search results in the form of AI generated answers to whatever questions users may input. The result is a product that does the work for you. Google Search is generative AI at the scale of human curiosity. Called AI Overviews. It could have the potential to upend the traditional search model and the click through advertising that powers much of Google's business. The announcement comes one day after rival Open AI unveiled a highly conversational update to its ChatGPT chat bot, with rumors of an AI search engine in the works. But competition wasn't the only thing heating up at Google's annual developer conference. Outside, dozens of protesters, including former employees, blocked an entrance, calling for the company to stop providing cloud computing services to the Israeli government. They say Google's one point $2 billion contract with Israel, known as Project Nimbus, is enabling the unjust repression of Palestinians in an apartheid system via facial recognition software, as well as supporting the development of military tools used in Israel's war on Gaza that has devastated the territory's infrastructure and killed thousands of civilians. Google knows that the Israeli military, for example, is using Google's tools for facial recognition and to help detain and torture and kill people in Gaza. Google has fired dozens of employees over sittings against Project Nimbus. The company says the program is not directed at work relevant to military weapons or intelligence services, and you're going to end with a quick look at the markets. European bourse is opening higher this Wednesday as global investors look ahead to the USS Consumer Price index for April later this Wednesday, and what this might mean for the Federal Reserve's decision on interest rates, with many hoping that stickier than expected inflation won't mean a return to rate hikes. As you can see the Footsie in London opening the session. Half a percented half a point. Sorry, I'm. I'm. I'm not gonna finish that sentence. I'm too tired. OK, well, we saw that. You saw that? Yeah, exactly. Shells Pelagra. He's off to bed on 24. That's it from us. Somebody's in a couple of minutes time.

OTHER NEWS

11 minutes ago

Rybakina overcomes slow start to beat Minnen

11 minutes ago

Should The Devils Trade For Nikolaj Ehlers or Martin Necas?

11 minutes ago

‘Biggest washing machine is Congress. It washed away Kejriwal’s misdeeds… And what about Kejriwal… He wanted all in jail’: BJP MP R P N Singh

11 minutes ago

Multi-day storm risk bubbles up over the Prairies, risk of strong winds, hail

11 minutes ago

The iPad Pro Is More Ready Than Ever to Be the Mac I've Been Waiting For

11 minutes ago

Cowboys veteran says third-year WR is going to 'crush' expectations

11 minutes ago

Shareholders approve fire sale of Russian mines to tycoon with former links to sanctioned oligarchs

11 minutes ago

Kourtney Kardashian says Rocky has never slept in his crib – and only naps in her arms

11 minutes ago

Men’s T20 World Cup 2024: team-by-team guide to the tournament

11 minutes ago

Scott Disick's weight loss drugs spotted on camera during The Kardashians

11 minutes ago

National Service and Cilla Black memes: Do Labour or the Tories have a better TikTok game?

11 minutes ago

How D'Agostino's techno classic became a right-wing hate song in Germany

11 minutes ago

Butch Harmon breaks down Stephen Curry's 'excellent' golf swing

11 minutes ago

'We are supporting skills and education for a future made in Australia': Brendan O'Connor

11 minutes ago

MPs urge Home Secretary to introduce £2,885 fee waiver for bereaved foreign spouses before election

11 minutes ago

Ronald Acuña’s season-ending injury means the path to October just got more complicated for the Braves

11 minutes ago

What now for Liam Cahill, Davy Fitzgerald, and Henry Shefflin?

11 minutes ago

Tom Cannon called up to 26-man Ireland squad

11 minutes ago

Influencer Charleen Murphy says finding out her attacker has been released from prison is ‘a slap in the face’

11 minutes ago

Man Utd transfers: Pochettino to stun Chelsea by stealing star man in double raid for new club

11 minutes ago

Oral contraceptives now available over-the-counter in WA

11 minutes ago

Ronan Keating sparks concern for 'warrior' wife Storm with cryptic Instagram post

11 minutes ago

You can catch cryptosporidium from SEX and people are infectious without symptoms... experts' new warning about contaminated water parasite

11 minutes ago

It's not just Devon with contaminated water: cryptosporidium parasite has been found across the UK... and if you're hoping to avoid the outbreak by going abroad think again

11 minutes ago

Texas storm damage: 'End of the world' scenes after tornados and 'extreme' hail torture Lone Star State

11 minutes ago

Optus ordered to hand over top secret report into huge data breach that cost CEO her job and sparked a massive legal action

11 minutes ago

Tragic watch dealer found dead at his parents' home 24 hours after he was robbed in work feared he would be held responsible after £2.8million of timepieces were taken

11 minutes ago

After Trump said she'd probably be in his administration. Haley heads to Israel

11 minutes ago

New BuzzFeed Investor Vivek Ramaswamy Asks For Big Changes & Apology

14 minutes ago

Reese Witherspoon in 'tears of joy' as niece graduates from same high school she did 30 years ago

17 minutes ago

Why Playside Studios, Pro Medicus, Strike Energy, and Winsome shares are charging higher

17 minutes ago

Video: Terror on Spirit Airlines flight to Florida as passengers are told to put on life jackets and prepare for 'emergency water landing'

17 minutes ago

Video: Investigation links child labour to luxury perfume brands with youngsters as young as five found picking Egyptian jasmine used in Lancôme and Estée Lauder products

17 minutes ago

Lionel Messi delights fans as he speaks ENGLISH in new Bad Boys commercial alongside Will Smith and Martin Lawrence

17 minutes ago

Video: BBC newsreader Geeta Guru-Murthy apologies to Nigel Farage live on air over impartiality breach after accusing him of using 'customary inflammatory language'

17 minutes ago

UK rainforest named nature reserve

17 minutes ago

SBF’s top FTX executive Ryan Salame to be sentenced as lawyers plead for leniency: ‘He was duped’

17 minutes ago

Google ‘taking swift action’ to remove bizarre AI search results — like telling users to eat rocks

18 minutes ago

Taiwan passes controversial reform bill after violence and protests

18 minutes ago

Ontario winery testing new green Canadian technology to fight age-old threat to grape crop