financetom
Economy
financetom
/
Economy
/
Yellen says US moving to ensure domestic EV maker success despite China's exports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Yellen says US moving to ensure domestic EV maker success despite China's exports
Mar 13, 2024 1:42 PM

ELIZABETHTOWN, Kentucky (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday said the Biden administration was taking steps to ensure the success of its domestic electric vehicle industry in the face of China's growing exports in the sector and heavy government subsidies.

Yellen, asked at a new EV battery materials plant in Kentucky whether the U.S. needed new tariffs on Chinese EVs, told reporters President Joe Biden was committed to ensuring the success of U.S. EV makers and reducing the sector's dependence on China.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
April Jobs Report Preview: Bank Of America Anticipates Solid Payrolls Growth, Rising Wage Pressures
April Jobs Report Preview: Bank Of America Anticipates Solid Payrolls Growth, Rising Wage Pressures
May 1, 2024
Bank of America U.S. economist Michael Gapen recently provided insights into the expected performance of the U.S. employment sector for April, forecasting nonfarm payrolls will see an increase of 250,000, marking a slight deceleration from the 276,000 average gain over the previous three months. That marks a slightly above-than-consensus view, as the median economist expects nonfarm payrolls to come in...
Fed Keeps Interest Rates Steady, Announces Slower-Than-Expected Pace Of Balance Sheet Runoff
Fed Keeps Interest Rates Steady, Announces Slower-Than-Expected Pace Of Balance Sheet Runoff
May 1, 2024
The Federal Reserve opted to keep the federal funds rate unchanged at 5.25% to 5.5% Wednesday, as widely expected, reinforcing its commitment to steering the economy toward sustainable growth and controlling inflation. Regarding the latest inflation dynamics, the Fed stated that In recent months, there has been a lack of further progress toward the Committee's 2 percent inflation objective. Furthermore,...
5 Things To Know In Investing This Week: The Stagflation Issue
5 Things To Know In Investing This Week: The Stagflation Issue
May 1, 2024
We saw a weak and overstated GDP print combined with a higher inflation metric. The conclusion is that absent government spending, we're heading for stagflation. One problem:  government spending is destroying value. Mish Shedlock warns that we can't vote our way out of the problem. On the commercial real estate front, landlords are coming up with ways to delay dealing...
US job openings fall to three-year low in March
US job openings fall to three-year low in March
May 1, 2024
WASHINGTON (Reuters) - U.S. job openings fell to a three-year low in March, while the number of people quitting their jobs declined, signs of easing labor market conditions that over time could aid the Federal Reserve's fight against inflation. Job openings, a measure of labor demand, were down 325,000 to 8.488 million on the last day of March, the lowest...
Copyright 2023-2026 - www.financetom.com All Rights Reserved