Yahoo Finance
Every country that builds things eventually faces the same question about a cheaper foreign rival, and there are only two honest answers to it.
You can wall the rival out and buy yourself time, or you can let the rival in and try to learn something before it eats you.
Only one of them tells you where you actually stand.
The United States picked the wall, and picked it hard.
A 100% import duty on Chinese electric vehicles took effect in September 2024, according to theOffice of the U.S.
A separate Commerce Department rule bars Chinese-linked vehicle software starting with model year 2027 cars and Chinese-linked connectivity hardware from model year 2030, according to theBureau of Industry and Security.
The practical result is that almost no Chinese passenger car reaches an American driveway, and almost none will.
Europe went a different direction, and one country went furthest of all.
A Spanish government report obtained byBloombergnow spells out how far Madrid will go to keep its factories running, and the answer involves flying in Chinese workers to build the plants.
Spain is not a bystander in the auto business.
It is the second-largest vehicle producer in Europe behind Germany, and the sector accounts for roughly 10% of Spanish gross domestic product and 9% of national employment, according toInvest in Spain, the government's foreign investment agency.
That is the context most American coverage skips.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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