Showing posts with label EVs. Show all posts
Showing posts with label EVs. Show all posts

Saturday, August 10, 2024

Over half of new Car sales in China in July were EVs, as America faces threat of Falling Behind

 

China

Over half of new Car sales in China in July were EVs, as America faces threat of Falling Behind

Ann Arbor (Informed Comment) – In July, China reached an unprecedented inflection point for an industrialized society, with more electric cars purchased than internal combustion engine (ICE) vehicles. William Gavin at Quartz points out that 3 years ago, only 7% of cars sold in China were EVs.

Just this year, EV sales are up 37%. These statistics count both pure EVs and plug-in hybrids.

It is true that the Chinese government offers a $2,785 bonus for EV purchases. But that is less than the $7500 federal tax break Americans can receive on some models of EVs because of the Inflation Reduction Act.

The key difference, Gavin argues, is that “China invested at least $230.8 billion to develop its NEV industry between 2009 and 2023,” and $121 billion of that was put in during the past three years. This research and development program allowed the Chinese to make advances in battery technology unmatched by American engineers, which is one reason that Ford wants to partner with a Chinese firm for its planned big battery plant.

America’s capitalist model has so far failed to keep up with China’s demand economy in this sector. Only in the past couple of years has the Biden administration adopted an industrial policy that has any hope of playing catch up.

Anyway,the Chinese are presently eating America’s lunch on the EV front. Their advanced batteries and other technological breakthroughs have allowed Chinese firms to offer EVs at an average price of $34,400, as opposed to the $55,242 average cost of an EV in the US.

In fact, BYD, the biggest EV maker, is planning to offer a $15,000 EV in 2024. The plug-in hybrid version of the new platform is even less expensive, at $11,000. This platform is an ICE-slayer.

BYD is hoping to get an agreement by the end of this year from Mexico on opening a manufacturing plant there. The cars it makes in that country would be eligible under NAFTA for special access to the US market, unless Congress makes a law targeting this one company. The US Big Three automakers are petrified of this plan, since BYD’s inexpensive EVs have great range.

That is, the Chinese advances in green transportation could position that country to dominate the world automobile market and deindustrialize its rivals. For this reason, Europe has slapped high tariffs on Chinese EVs, but Beijing is appealing this move to the World Trade Organization.

—–

Bonus Video:

Vox Video: “Why China is winning the EV war”

Monday, July 22, 2024

China and the Slowing Petroleum Market: EVs displaced 1.5 mn. Barrels per Day in 2024

  THIS DESERVES TO STAND ALONE & RECOGNIZE THAT THE US IS FALLING 

BEHIND DUE TO FOSSIL FUEL PROPAGANDA!

AUTO MAKERS NEED TO WAKE UP & MAKE EVs AFFORDABLE!

 



FEATURED

China and the Slowing Petroleum Market: EVs displaced 1.5 mn. Barrels per Day in 2024

Ann Arbor (Informed Comment) – The International Energy Agency signaled last week that the rate of increase in world petroleum demand fell in the second quarter of 2024 to an 18-month low. The increased demand was only 710,000 barrels a day.

The world used 102.04 million barrels per day of petroleum as of May. That figure has to be brought down to zero by 2050 if the world is to avoid the climate going batshit crazy and posing a challenge to civilized life. It is therefore disappointing that demand grew 710,000 barrels a day in the second quarter of this year. We want to see it decline. But the increase was still much less than historical trends would have predicted.

Why the reduced rate of growth? The IEA largely fingered China, saying that its post-COVID recovery has run its course and its gdp growth is slowing. China is the world’s second largest economy, and it trucks around an enormous number of goods from factories to marketplaces and to ports for export. When it trucks fewer goods because of reduced demand, China requires less petroleum. Although its imports of oil rose in Q2, they rose at an anemic rate compared to the previous year. April and May likewise saw a slowing in Chinese petroleum imports.

But the erosion in Chinese petroleum demand is not only owing to its slowing economy. The IEA projects that fully 45% of the automobiles sold in China this year will be electric. Chinese economists are predicting that by next year, so many vehicles on the road will be electric that petroleum demand will start falling. Not just the rate of increase, as with this year. The number of barrels of oil brought in will be less than in 2024, and will be less yet every year thereafter. We are on the cusp of the end of the oil bubble that dominated the past century.

CNBC Int’l Video: “We’re seeing a clear slowdown in oil demand growth, says IEA”

Most petroleum is used to power vehicles. The decline of Internal Combustion Engine (ICE) vehicles equals the decline of oil demand.

Bloomberg NEF predicts that EV sales will triple in 2025 globally, with over 20 million units sold.

The EVs already on the road have reduced global petroleum demand by 1.5 million barrels a day. By 2025 these vehicles will displace 2.5 million barrels a day. It is not only in China that petroleum demand will begin declining. That trend will start next year in China, but by 2026, demand will fall globally.

China has gotten ahead of the United States in EV technology and is able to produce electric cars for half the price of the average US EV (the average such vehicle in the US costs $55,000).

China, according to AP, manufactured “62% of the 10.4 million battery-powered EVs that were produced worldwide last year.” The US only produced about a million, some 10%. Since the auto industry is a leading sector of advanced economies, China’s vast superiority here is a national security threat to the United States. Many US observers are petrified of what would happen to the US Big Three if China follows through with plans to open an EV manufacturing plant in Mexico, to take advantage of NAFTA. Although the US can block that move with tariffs, it would be better if US industrial policy put the Big Three on a better foundation to compete with the Chinese EVs.

The US backwardness in this sector is also a drag on our fight against carbon dioxide-driven global heating, which is baking much of the country and intensifying hurricanes that threaten the Gulf and Atlantic coasts. If Trump gets in and guts the US EV market, as he pledges, he will be dooming us to Third World status in the foreseeable future.


About the Author

Juan Cole is the founder and chief editor of Informed Comment. He is Richard P. Mitchell Professor of History at the University of Michigan He is author of, among many other books, Muhammad: Prophet of Peace amid the Clash of Empires and The Rubaiyat of Omar Khayyam. Follow him on Twitter at @jricole or the Informed Comment Facebook Page


INFORMED COMMENT

Thursday, April 18, 2024

POLITICO Nightly: The dangerous economic year ahead




POLITICO Nightly logo

BY ADAM BEHSUDI

Secretary of the Treasury Janet Yellen shakes hands with Chancellor of the Exchequer Jeremy Hunt of the United Kingdom as Treasurer Jim Chalmers of Australia (left) and Deputy Prime Minister and Finance Minister Chrystia Freeland of Canada (right) look on in Washington.

Secretary of the Treasury Janet Yellen shakes hands with Chancellor of the Exchequer Jeremy Hunt of the United Kingdom as Treasurer Jim Chalmers of Australia (left) and Deputy Prime Minister and Finance Minister Chrystia Freeland of Canada (right) look on today in Washington. | Alex Wong/Getty Images

ROUGH RIDE — The yearly spring meetings of the International Monetary Fund and World Bank taking place this week could be one of Washington’s most misunderstood events.

What some might view as a shadowy cabal of finance ministers, central bank governors and economists plotting out the path of the world economy, is actually just a bunch of officials coming to grips with what they don’t know and their limited power to change the future.

Even on the heels of a global health crisis and war returning to Europe, the list of unknowns worrying officials here this week remain daunting: new armed conflicts and intensification of ongoing wars, growing economic fragmentation caused by U.S.-China rivalry and questions regarding who will hold power in some of the world’s most influential capitals as nearly half of the global population heads to the polls in 2024.

Almost everyone agrees that the year ahead will be a bumpy ride.

“The world is going to be subject to a lot more shocks and shocks that are going to be more frequent, deeper and affect many countries at the same time,” said Masood Ahmed, president of the Center for Global Development and a former senior IMF official.

Those shocks could have dramatic negative consequences. While the U.S. economy has returned even stronger from where it was before the pandemic, global economic growth has stalled. Much of the developing world continues to struggle to pay the bills still owed from the pandemic.

A dramatic turn in the war in Ukraine could once again send food supplies into disarray. Instability in the Middle East could send energy prices shooting up. Those developments would only add to the economic pressure the poorest countries are under.

Instead of dwelling on flexible exchange rates or any other range of pure economic topics, the ask now at meetings among finance officials is more existential in nature: “Help us think about a very dangerous world. How dangerous is it, and how do we prepare for it?” said Tim Adams, a former senior Treasury official who now serves as Institute of International Finance president and CEO.

A more dangerous, rivalrous world has made national security a key motivation for new economic policies. Washington has pumped money into critical sectors to ensure that America — and not China — still holds the crown when it comes to dominating industries of the future. Sensing a change, companies are shortening their supply chains and trade flows are being altered.

“The pandemic, wars, and geopolitical tensions have changed the playbook for global economic relations,” IMF Managing Director Kristalina Georgieva said in a speech last week. “Policymakers are looking to strike a balance between efficiency and security, between cost considerations and resilience in supply chains. There are already signs that trade relations are being reshaped.”

“Fragmentation” of the global economy into competing blocs is the risk du jour among officials gathered here this week and no one quite knows how it’s going to play out. What is clearer: protecting domestic interests and addressing global challenges may be increasingly mutually exclusive.

“The United States and European Union are now saying that EVs coming from China are too inexpensive. We’ve got to tariff them. That’s a good decision for an Ohio laborer but it’s a bad decision if you want to bring carbon emissions down to hit your 2030 or 2050 targets. We have to talk about both of those things,” Eurasia Group President Ian Bremmer said at an event here today.

There’s also a feeling permeating the yearly meetings that not much can be done on any of these fronts, at least until the global political picture is clearer after this year’s unprecedented number of elections around the world.

“We’ll all reconvene next spring. At that point there will be new political mandates, new political will, new political priorities and we’ll have more clarity about delivering on the promises being made,” said Matt Swinehart, a former Treasury official now at Rock Creek Global Advisors.

Political decisions hang in the balance, whether it flows from Donald Trump reclaiming the White House or if Europe lurches to the right after the votes are counted.

“A common theme is a reminder of how very big political choices can affect economic outcomes and performance,” Paschal Donohoe, a senior Irish government minister who leads the Eurogroup, a grouping of European finance ministers, told POLITICO. “A great reminder that the most serious political choices of a decision to go to war and decision to be involved in conflict can have the most important economic repercussions.”

Welcome to POLITICO Nightly. Reach out with news, tips and ideas at nightly@politico.com . Or contact tonight’s author at abehsudi@politico.com or on X (formerly known as Twitter) at @ABehsudi .

 

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TRUMP ON TRIAL

Former President Donald Trump speaks outside the Sanaa Convenient Store in the Harlem neighborhood of New York City.

Former President Donald Trump visits a Harlem bodega in New York City on Wednesday. | Jamie Kelter Davis for POLITICO

WE’VE GOT A JURY — A full panel of 12 jurors has been chosen for Donald Trump’s hush money trial . Seven jurors were quickly sworn in this afternoon, filling the panel that will decide whether Trump is guilty of falsifying business documents to conceal a sex scandal with a porn star.

Here’s what we know about the seven jurors selected today :

  • A man who lives in the Hell’s Kitchen neighborhood and works in investment banking. 
  • A man who lives in the West Village, works as a security engineer and has three children.
  • An Upper East Side man originally from Lebanon who is retired and enjoys fly fishing. 
  • An Upper East Side woman who works as a speech therapist. 
  • A Murray Hill man who works at an eyewear company and enjoys the outdoors. 
  • A woman originally from California who lives in Upper Manhattan and works in product development. 
  • An Upper East Side woman who works as a physical therapist and enjoys tennis and paddle boarding.

YOU’RE EXCUSED — At the beginning of today’s proceedings, Justice Juan Merchan announced that one of the jurors who had been selected on Tuesday — an oncology nurse from the Upper East Side — called the court yesterday to say that “after sleeping on it overnight, she had concerns about her ability to be fair and impartial in this case.” He asked her to come to court today for further questioning.

Merchan then quickly excused the juror . She said that “yesterday, alone, I had friends, colleagues and family push things to my phone regarding questioning my identity as a juror.” She added: “I don’t believe, at this point, that I can be fair and unbiased and let the outside influences not affect my thinking in the courtroom.”

Then, in the afternoon, another juror was excused. Prosecutors raised concerns this morning about the juror, known as Juror No. 4, because they discovered that a man with the same name had been arrested in the 1990s for tearing down political posters. That information called into question whether the juror had been fully truthful in answering questions during jury selection.

Justice Juan Merchan dismissed the man after a lengthy discussion with lawyers for both sides that was held at the judge’s bench, out of earshot of reporters in the room. Merchan then said in open court that, during the private discussion, the juror expressed “annoyance” at the amount of information published about him this week.

JUROR OPINIONS ON TRUMP — Trump lawyer Susan Necheles spent much of her allotted time for questioning prospective jurors pressing them on their opinions of Donald Trump. Here’s a sampling of what they said , though not all of these jurors made the final jury:

“I don’t have strong opinions, but I don’t like his persona,” said one prospective juror. “How he presents himself in public.”

“I don’t like some of my coworkers, but I don’t try to sabotage their work,” she added, drawing laughter from the jury box. “He seems very selfish and self-serving.”

Another prospective juror who works in law enforcement praised Trump for one particular achievement: “As a wannabe hockey player, I still thank him for fixing that Wollman Rink that nobody couldn’t fix.”

Another, the owner of a construction-related firm, said he saw parallels between himself and Trump. “He was our president. Pretty amazing. He was a businessman in New York. He forged his way. He kind of made history… I’m impressed with that.”

WHAT'D I MISS?

— U.S. and Israel meet on Rafah days after Iran attack: The U.S. and Israel are holding another tense meeting on a future Rafah operation today , a sign that Iran’s attack isn’t halting negotiations over Israel’s conduct in the war against Hamas. Both sides are attending a virtual session, a senior Biden administration official and Israeli official told POLITICO, where senior leaders discuss how to target Hamas’ roughly 3,000 fighters in Rafah while protecting the city’s 1.4 million Palestinians. National security adviser Jake Sullivan is expected to lead the conversation for the Biden administration. Sullivan’s Israeli counterpart, Tzachi Hanegbi, is heading his nation’s delegation.

— Senate advances spy powers bill amid huge surveillance fight: The Senate advanced a controversial surveillance bill this afternoon by a 67-32 vote , as leaders race to fight off attempts to change it that could result in a lapse over the weekend. The vote to break a filibuster on a law extending and reforming the Foreign Intelligence Surveillance Act’s section 702 authority sets up a crucial showdown before the Saturday expiration of the program. Critics of the authority, which allows warrantless surveillance of foreign targets, want major changes designed at making it much tougher to access American information that is swept up in the program. They also want to strike House language updating which data providers’ information could be used in the program.

— Jan. 6 lawsuits against Trump may advance despite criminal case, judge rules: Lawsuits by members of Congress and police officers against Donald Trump for his actions on Jan. 6 may advance despite the related criminal case against him in Washington , a federal judge ruled today. U.S. District Judge Amit Mehta rejected Trump’s effort to pause the lawsuits until the criminal charges over his attempt to subvert the 2020 election — brought by special counsel Jack Smith — are resolved. Instead, Mehta ordered Trump to begin describing the basis for his claim that he is immune from the lawsuits because his actions on Jan. 6 were part of his official duties as president.

— College campus strife persists, as NYPD descend on Columbia: New York Police Department officers swarmed Columbia University’s campus today and arrested dozens of pro-Palestinian student protesters as thousands of others shouted for them to stop — a scene of a campus in unmitigated chaos that drew in Cornel West and the daughter of Rep. Ilhan Omar. The arrests, authorized by Columbia President Minouche Shafik, come a day after she testified before the House Education subcommittee for a hearing called “Columbia in Crisis: Columbia University’s Response to Antisemitism.”

NIGHTLY ROAD TO 2024

FAMILY FEUD — President Joe Biden accepted endorsements from at least 15 members of the Kennedy political family during a campaign stop today as he aims to undermine Donald Trump and marginalize the candidacy of independent Robert F. Kennedy Jr., the Associated Press reports.

Kerry Kennedy, a daughter of former Attorney General Robert F. Kennedy, niece of former President John F. Kennedy and sister of the current presidential candidate, delivered the endorsements in Philadelphia by calling Biden “my hero.” She never directly mentioned her brother, but insisted “there are only two candidates with any chance of winning the presidency” this year, framing the campaign as a choice between Biden and Trump, with no room for a third party contender.

RFK JR. MAKES MICHIGAN BALLOT — Robert F. Kennedy Jr. announced today that he had secured a spot on the ballot in Michigan , one of the swing states likely to decide the election, reports the New York Times. The Natural Law Party, which has ballot access in Michigan, nominated Mr. Kennedy and his running mate, Nicole Shanahan, for president and vice president. A spokeswoman for the Michigan secretary of state’s office confirmed that this meant Mr. Kennedy would be on the ballot in November.

LITTLE DITTY ABOUT JOE BIDEN — The song opened on cue with a “little ditty about Jack and Diane,” but then the music abruptly stopped. John Mellencamp had barely finished the second verse of his smash hit when an exchange with a heckler had clearly gotten on his nerves. “You know what?” he told concertgoers last month in Toledo, Ohio. “Show’s over.”

Videos capturing the moment when the singer walked off the stage have ricocheted for weeks online, reports the New York Times. A cascade of right-wing chatter on social media has fueled the perception that Mr. Mellencamp brought it on himself by promoting President Biden during the show . But that was not the case.

AROUND THE WORLD

ENERGY NEEDED — In recent weeks, Russia has started inflicting far more permanent damage on Ukraine’s energy system , not only taking out generating stations but even going after the vast underground gas storage facilities the EU leaned on last winter to avoid its own energy shortages.

It’s a change from the past two years, when Moscow and its invading army mostly targeted Ukraine’s energy transformers, the components that move power from one circuit to another. Such attacks were damaging, but the parts could be quickly repaired or substituted.

Now that entire power plants are in their crosshairs, the repairs are going to take years. And the storage strikes may deprive Europe of a critical backup plan.

“Our thermal power plants have been attacked 48 times over the past six months, but without a doubt, Russia’s attacks in the past few weeks have been the worst since [the] full-scale invasion in 2022,” Maxim Timchenko, CEO of Ukraine’s largest private energy firm, DTEK, told POLITICO.

The results are distressing — and not just for Ukraine. Officials there are worried about how they’ll get through the winter with the lights and heating on. Ukraine’s air defenses are running low, they say, making it increasingly difficult to parry the missiles raining down on energy infrastructure. Nor are there many easy-to-access repair parts for those degraded power plants.

Then there’s the spillover to Europe. Last winter Ukraine offered its gas storage network to European traders as they frantically built up reserves in case Russia axed supplies when the temperature dropped. Now Russia is targeting that network, raising questions about whether the EU is prepared with alternatives.

 

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NIGHTLY NUMBER

7.1 percent

The average long-term U.S. mortgage rate to finance a house, the highest rate since November 2023. The U.S. housing market remains constrained by relatively few homes for sale and quickly rising home prices.

RADAR SWEEP

SUBURBAN WAR — There’s a picture of suburbs in the United States that many people have in their head — mostly white, middle to upper middle class, access to good public schools and parents heading off to work in the city while their children are safe at home, living in well furnished houses. Maybe there’s a basketball hoop tacked up to the top of the garage door. That vision, though, is slowly collapsing, if it ever completely existed at all . In a discussion of Benjamin Herold’s book Disillusioned: Five Families and the Unraveling of America’s Suburbs , Caitlin Zaloom writes in The New Republic about just how the quintessential idea of the American suburb disappeared and how the suburbs became a trap.

PARTING IMAGE

On this date in 1906: A 7.9 magnitude earthquake hits San Francisco, killing 3,000 and devastating the city's infrastructure. Pictured is a refugee camp near Rock Hill on upper Market Street in the city.

On this date in 1906: A 7.9 magnitude earthquake hits San Francisco, killing 3,000 and devastating the city's infrastructure. Pictured is a refugee camp near Rock Hill on upper Market Street in the city. | AP

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Wednesday, September 13, 2023

POLITICO Nightly: The immigration ruling rattling Florida

 



 
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BY ERIC BAZAIL-EIMIL

Presented by

Citi

A Cuban with his documents lines up at the U.S. embassy in Havana on May 3, 2022.

A Cuban with his documents lines up at the U.S. embassy in Havana on May 3, 2022. | Yamil Lage/AFP via Getty Images

IN LIMBO — As the U.S. grapples with an unprecedented wave of migration from Cuba, an immigration court ruling has placed hundreds of thousands of Cubans who arrived in the U.S. via the southern border with Mexico in legal limbo.

It’s left lawmakers and advocates frustrated at what they say are chaotic and contradictory Department of Homeland Security border policies — and scrambling to figure out what happens next.

The federal Board of Immigration Appeals ruled Monday afternoon that Cuban migrants who were granted an “order of release on recognizance,” also known as an I-220A, at the land border are not eligible to apply for permanent residency under the 1966 Cuban Adjustment Act, which has allowed Cubans paroled into the United States to apply for green cards after staying in the U.S. for over a year.

The ruling can be appealed. And DHS has the authority to change the status of these migrants.

But Cuban-American lawmakers worry that if the ruling stands and nothing is done, the sheer number of Cuban migrants affected could exacerbate the strain on an already backlogged immigration system. They also worry that Cubans would be barred from employment opportunities and could be made to return to the island, possibly exposing them to reprisals from the Cuban regime.

Meanwhile, immigration advocates worry that the ruling could make the process for acquiring a green card more difficult for many other groups beyond just Cubans.

Since the summer of 2021, record numbers of Cubans have arrived in the United States after mass demonstrations across the island and a stagnant Cuban economy drove many to flee the country.

The added effect of closure of the U.S. embassy in Havana, which only reopened early this year, meant that Cubans could not apply for asylum within Cuba for several years. All of it has prompted many Cubans to go to Central America and take their chances at the land border.

The exact number of Cubans affected by the ruling is unclear. Nearly 350,000 Cubans have been apprehended at the U.S. border with Mexico since October 2021 and thousands more have attempted to reach the U.S. via the Straits of Florida — larger flows than occurred during both the Mariel Boatlift and the 1994 Balsero crisis.

Not all migrants received I-220As, since decisions to grant the orders were left to the discretion of border agents at ports of entry. Some Cubans were instead given humanitarian parole, adding to the confusion. Experts and immigration advocates estimate that as many as 200,000 Cuban migrants may have received I-220As before being allowed entry into the United States.

Immigration advocates say the decision could negatively affect other groups of people seeking a change in their legal status. The ruling provides migrants with more options to exit detention centers and enter the United States by reducing the stakes for issuing I-220As. But it also gives the government wide powers to bar migrants from a pathway to legal status.

For them, the ruling reveals the contradictions at the heart of the DHS strategy.

“It shows DHS wants it both ways,” Emma Winger, a senior attorney with the American Immigration Council, told Nightly. “They fought vigorously against allowing people, recent arrivals, to obtain the protections of conditional parole and release through bond hearings. But on the flip side, they want to use their power to basically pick and choose release authority, with the result that they prevent people from gaining permanent status here.”

DHS did not respond to requests for comment.

South Florida’s Cuban members of Congress — all Republicans — are publicly voicing their frustration with the ruling. Rep. Mario Díaz-Balart (R-Fla.) told Nightly that the ruling hurts “people seeking freedom” and reflects the Biden administration’s “chaotic” approach to border security.

“This is just another result of the irresponsible, grotesquely irresponsible, immoral, inhumane policy of this administration dealing with the southern border,” Díaz-Balart said.

Rep. María Elvira Salazar (R-Fla.), who represents Miami’s Little Havana neighborhood, is pushing for the Biden administration to rectify the situation and ensure that Cubans who received I-220As are afforded the benefits of the Cuban Adjustment Act.

“I don’t get why a number of Cubans who came in in the last two years have not gotten that,” Salazar told Nightly. She says she’s spoken with Homeland Security Secretary Alejandro Mayorkas about the issue, who she described as “very cooperative.”

Salazar voices confidence that the Cubans affected by the ruling will see their status shored up.

“Oh no, no, it’s not gonna stay like that,” Salazar said as she walked down the stairs of the Capitol Tuesday night. “[The Cuban Adjustment Act] needs to be used for this group of half a million Cubans, most of them in my district. So yeah, we’re fighting.”

“This hasn’t ended. This is just beginning,” she continued.

Welcome to POLITICO Nightly. Reach out with news, tips and ideas at nightly@politico.com . Or contact tonight’s author at ebazail@politico.com or on X (formerly known as Twitter) at @ebazaileimil .

 

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WHAT'D I MISS?

— Romney won’t seek reelection in 2024: Utah Republican Sen. Mitt Romney said today that he will not run for reelection , exiting the political stage after a two-decade career in public service that included the 2012 Republican GOP nomination for president and a term as Massachusetts governor. The 76-year-old announced his decision in a video statement in which he noted that he would be in his mid-80s at the end of another six-year Senate term and argued that the country is ready for younger politicians. “Frankly, it’s time for a new generation of leaders,” he said. “They’re the ones that need to make the decisions that will shape the world they will be living in.”

— Hunter Biden sues ex-Trump staffer tied to laptop’s dissemination: Hunter Biden’s legal team is going on offense. In a lawsuit filed today, the president’s son is accusing former Trump White House staffer Garrett Ziegler of violating California and federal computer privacy laws . The suit, which focuses on Ziegler’s publication of the purported contents of Hunter Biden’s laptop, as well as an encrypted iPhone backup, represents an escalation in the legal fights that have shadowed the Biden presidency.

— Court blocks Jack Smith’s access to many of Rep. Scott Perry’s contacts about 2020 election: A top House conservative’s conversations with allies in Congress and the Trump White House about overturning the 2020 election are off-limits to special counsel Jack Smith , an appeals court ruled in a newly unsealed court opinion. A three-judge panel of the D.C. Circuit Court of Appeals concluded that prosecutors’ effort to access the cellphone communications of Rep. Scott Perry (R-Pa.) with colleagues and executive branch officials violated his immunity under the Constitution’s Speech or Debate clause, which shields members of Congress from legal proceedings connected to their official duties. It’s unclear whether Smith will appeal the decision to the full bench of the D.C. Circuit or to the Supreme Court.

— Jury’s fresh-air break could upend Navarro conviction: An unusual outdoor excursion by the jury that convicted Peter Navarro — just 30 minutes before delivering its verdict last week — is threatening to unravel the former Donald Trump adviser’s trial for defying a subpoena from the Jan. 6 select committee. U.S. District Court Judge Amit Mehta held a hearing today to take testimony from the federal courthouse employee who escorted the jury outside for a fresh-air break as its deliberations wound down today. Navarro’s attorneys say that brief respite may have exposed the jurors to a smattering of protesters, some of whom wielded signs about Jan. 6 defendants and one of whom was later seen holding a sign referencing Navarro himself.

 

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NIGHTLY ROAD TO 2024

PRIMARY DATE PUNT — National Democrats are poised to punt yet again on deciding what to do about New Hampshire’s fraught 2024 primary when they meet this week to discuss the party’s nomination calendar, reports POLITICO.

A top panel on the Democratic National Committee is expected to vote Thursday on a plan to give New Hampshire more time to comply with the national party’s demand that it hold its presidential primary after South Carolina’s contest in early February, according to a person familiar with the proposal.

That would mark the third time this year that the DNC has pushed back the state’s deadline to make progress on adhering to the new primary calendar or get kicked out of the official early voting lineup altogether. President Joe Biden previously pushed for changes that stripped New Hampshire of its first-in-the-nation primary and gave South Carolina the prized No. 1 spot.

MISSILE DIPLOMACY — Florida Gov. Ron DeSantis wouldn’t rule out launching missiles into Mexico to combat drug cartels if he’s elected president, saying that it’s “dependent on the situation.”

In a tense exchange with CBS Evening News’ Norah O’Donnell, the presidential hopeful was directly asked whether he would authorize an aerial attack inside the neighboring country. He began to respond, then pivoted. “We would use all available — the tactics, I think, can be debated. If you have something you want to accomplish, people would brief you on the different ways you’d be able to do it,” DeSantis said. “So, that would be dependent on the situation.”

It’s the first time DeSantis, the most outspoken 2024 GOP presidential candidate when it comes to using military force at the border, has explicitly said he’d be open to using missiles against the southern neighbor. At the presidential debate in August, he said he would send U.S. special forces over the border — a statement that a campaign spokesperson later eased back to POLITICO.

SO YOU’RE SAYING THERE’S A CHANCE — Donald Trump remains the clear 2024 favorite among Republican grassroots leaders, and in strong position to win his party’s presidential nomination. But there’s some evidence that the contest could become more competitive , writes POLITICO magazine.

That’s according to a poll of GOP county chairs from across the country. Even as the former president continues to hold a real lead over his rivals, a large Republican contingent is undecided and remains open to other candidates. And this group is increasingly open to several other contenders — not just Ron DeSantis, but Tim Scott, Nikki Haley and Vivek Ramaswamy. The most recent survey, conducted throughout August — with responses coming in both before and after the first GOP debate — show a slight softening of Trump’s support, but still with a substantial lead. As in June, roughly twice as many county party chairs are now committed to Trump (27 percent) than DeSantis (13 percent), and no other candidates had the support of more than 4 percent of chairs.

 

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AROUND THE WORLD

Electric cars waiting to be loaded on a ship are stacked at the international container terminal of Taicang Port at Suzhou Port, in China's eastern Jiangsu Province.

Electric cars waiting to be loaded on a ship are stacked at the international container terminal of Taicang Port at Suzhou Port, in China's eastern Jiangsu Province. | AFP via Getty Images

CAR WARS — In the midst of an influx of Chinese electric cars to Europe, European Commission President Ursula von der Leyen launched an anti-subsidy investigation today against Chinese imports . It’s a step that risks snowballing into a trade war that could make a tussle over solar panels with Beijing a decade ago look like a tea party, write Joshua Posaner , Barbara Moens and Stuart Lau .

"Global markets are now flooded with cheaper Chinese electric cars. And their price is kept artificially low by huge state subsidies,” von der Leyen said in her annual State of the Union address. “This is distorting our market.”

The stakes couldn’t be higher: China’s massive investments have established it as the dominant maker of the battery technology that powers clean cars. Global sales of electric vehicles are forecast to grow by nearly a third in 2023 alone to nearly more than 14 million units — worth $560 billion — and without fair competition the EU sees its industry losing out.

The European car industry is worried — especially German auto makers that are most exposed to the vast Chinese market. “From the business point of view it runs the risk of retaliation,” one automotive lobbyist said on condition of anonymity.

China has yet to comment, but the China Chamber of Commerce to the EU posted on X (formerly Twitter) to express its “strong concern and opposition” to the probe. That post was retweeted by Wang Lutong, head of the Europe department at the Chinese foreign ministry.

With China already controlling 60 percent of global battery production, Brussels fears that, without countermeasures, Chinese companies will gain a stranglehold on EV markets just as major western economies on both sides of the Atlantic commit to tackling pollution by phasing out sales of traditional combustion engine vehicles.

 

JOIN 9/19 FOR A TALK ON BUILDING THE NEW AMERICAN ECONOMY : The United States is undergoing a generational economic transformation, with a renewed bipartisan emphasis on manufacturing. Join POLITICO on Sept. 19th for high-level conversations that examine the progress and chart the next steps in preserving America’s economic preeminence, driving innovation and protecting jobs. REGISTER HERE .

 
 
NIGHTLY NUMBER

3.7 percent

The amount that prices rose over the past year, the fastest pace since May and an uglier number than President Joe Biden was hoping to see . But the government’s latest consumer price index report today is unlikely to cause panic at the Federal Reserve, which will decide next week whether to further raise interest rates. That’s because the CPI increase in August was driven by a surge in fuel prices, and there’s not much the Fed can do about that.

RADAR SWEEP

FLY EAGLES FLY — Almost 50 years ago, a group of conservationists reintroduced “sea eagles,” white tailed eagles that had died off due to being hunted by sheep farmers, to Scotland. The results have been impressive, as the eagle population has expanded and the reintroduction of the rare bird has drawn tourism that’s been worth about $10 million to the Island of Mull in Scotland . But the sheep farmers are still there, and the eagles remain opportunistic hunters, feeding on carcasses as well as attacking live animals. And farmers remain frustrated that for decades, conservationists refused to acknowledge that the eagles were preying on live animals, rather than only carcasses. It’s created an interesting local problem with broader societal implications — who gets to live and prosper on Mull? Read Emma Marris on the issue in Hakai Magazine, complete with evocative photos of the island.

PARTING IMAGE

On this date in 1993: Palestine Liberation Organization Chairman Yasser Arafat — with President Bill Clinton following behind — shakes hands with Clinton's daughter Chelsea after signing the Oslo I Accord, marking the official start of a peace process aimed at achieving a peace treaty between Israel and Palestine.

On this date in 1993: Palestine Liberation Organization Chairman Yasser Arafat — with President Bill Clinton following behind — shakes hands with Clinton's daughter Chelsea after signing the Oslo I Accord, marking the official start of a peace process aimed at achieving a peace treaty between Israel and Palestine. | John Duricka/AP Photo


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A message from Citi:

The metaverse may be the next generation of the internet , combining the physical and digital worlds in an immersive manner.

Today, the most popular way to experience the metaverse is via video games played on virtual reality (VR) headsets. However, as time goes on, the metaverse may help us find new and enhanced ways to engage with commerce, art, media, healthcare, and social collaboration.

The adoption of the metaverse could have a broad impact across sectors, including financial services, and what counts as money in the open metaverse is likely to be very different from what counts as money in the real world today. Money in the metaverse could exist in different forms, such as in-game tokens, stablecoins, central bank digital currencies (CBDCs), and cryptocurrencies.

Take a more in-depth look at the potential impact in the Citi GPS Report, Metaverse and Money.

 
 

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