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Donald Trump has nominated Chris Wright, CEO of Liberty Energy, as Secretary of Energy. Wright, a proponent of fossil fuels and fracking, aligns with Trump's energy agenda, emphasizing increased oil and gas production while opposing climate change initiatives. His nomination reflects a shift towards prioritizing fossil fuel development in U.S. energy policy.
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UK Foreign Secretary David Lammy's recent visit to China aimed to reset diplomatic ties strained by human rights issues and geopolitical tensions. Meeting with Chinese officials, he emphasized the need for pragmatic engagement while addressing concerns over Hong Kong and Xinjiang. The visit included discussions on trade, climate change, and cooperation in various sectors.
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China has filed a lawsuit with the WTO against the EU's newly imposed tariffs on Chinese electric vehicles, which can reach up to 35.3%. The tariffs, seen as protectionist measures, have raised concerns about escalating trade tensions and potential retaliatory actions from China.
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As the US presidential election approaches, tariffs on Chinese imports remain a contentious issue. Former President Trump plans to escalate tariffs significantly, while current policies have already burdened US consumers and businesses. The implications for the tech industry and global trade dynamics are profound.
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Italy and the Czech Republic are urging the EU to consider a wider range of solutions for electric vehicles beyond battery and hydrogen technologies. They want a review of current policies expedited to 2025, amid rising tensions over tariffs on Chinese electric vehicles.
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Following Donald Trump's election victory, China braces for a potentially tumultuous four years in US-China relations. Analysts predict increased trade tensions and geopolitical challenges as Trump adopts a more aggressive stance, while Beijing seeks to navigate the complexities of a new administration focused on economic and security issues.
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A recent report highlights the potential of recycling to reduce the need for new mining of rare earth elements, crucial for technology and green energy. While recycling could cut new mining needs by up to 40% by 2050, current efforts are lagging, raising concerns about dependency on China for these critical resources.