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Summary
- Tariffs as Geopolitical Tools: Tariffs are increasingly used not only for economic protection but also for geopolitical strategy, influencing global trade and signalling national interests.
- Chinese EV Industry Example: The EU and other countries are imposing or considering tariffs on Chinese electric vehicles, citing unfair competition, while also protecting domestic industries from the rapid growth of China’s EV sector.
- Domestic Political Motives: Tariffs often cater to domestic political considerations, such as protecting jobs and industries, as leaders seek to address public concerns and safeguard strategic sectors.
- Impact on Global Trade: While tariffs may protect local industries, they risk disrupting international supply chains, increasing costs for consumers, and escalating global trade tensions.
- Strategic Industries and Future Trends: Tariffs on key sectors like green energy and advanced technology are expected to grow, further entrenching protectionism and complicating global trade relations.
Continue reading “Tariffs as a Geopolitical Tool: The Intersection of Domestic Politics and Global Trade”