BYD Says EV Price War in China Not Sustainable
BYD Co. Executive Vice President Stella Li discusses competition in the electric vehicle industry, telling Bloomberg's Tom Mackenzie that the price war in China is not sustainable. They speak on the sidelines of the Founders Forum Global conference in England. (Source: Bloomberg)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
41 minutes ago
- Yahoo
Akazawa Sees a Deal With US Sparing Japan From Higher Car Levies
(Bloomberg) -- Japan's top trade negotiator expects a trade deal with the US to spare Tokyo from higher auto tariffs, even if US President Donald Trump decides to increase them against other nations. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? NY Long Island Rail Service Resumes After Grand Central Fire 'We are in bilateral negotiations with the US,' Ryosei Akazawa said Friday as he left for Washington for his sixth round of trade talks with US counterparts. 'Generally speaking, if we reach a deal it should secure special treatment for Japan, and exclude it from rules that apply to most countries.' Akazawa made the remarks after being asked about Trump's comments that indicated he's considering raising tariffs on imported cars further to boost production in the US. Akazawa also said he was aware that US Treasury Secretary Scott Bessent has signaled a possible extension of the July 9 deadline to return across-the-board tariffs to original rates, which would mean a bump to 24% from 10% for Japan. Akazawa heads to the US as the two nations eye a potential trade deal out of an expected summit in Canada between Trump and Japanese Prime Minister Shigeru Ishiba. The two are expected to meet on the sidelines of the Group of Seven leaders' gathering starting Sunday. A 25% tariff on cars and car parts threatens to push the Japanese economy into a technical recession with a hit to the nation's most important exports, just as Ishiba prepares for a national election in July. The US has also recently doubled a levy on steel and aluminum to 50%. Akazawa said Japan will continue to seek a review of all US tariffs and aim for a package of agreements. American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software New Grads Join Worst Entry-Level Job Market in Years US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom As Companies Abandon Climate Pledges, Is There a Silver Lining? ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
41 minutes ago
- Yahoo
BOJ Is Said to See Inflation Running Stronger Than Expected
(Bloomberg) -- Bank of Japan officials see prices rising a little stronger than they expected earlier in the year, a factor that may open the door to discussions over whether to raise interest rates if global trade tensions ease, according to people familiar with the matter. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? NY Long Island Rail Service Resumes After Grand Central Fire The officials expect the central bank's benchmark interest rate to be left at 0.5% at the end of a two-day gathering next week as they need to monitor developments in tariff talks globally and their economic implications, the people said. But if tariff measures turn out to be not so disruptive for the underlying price trend, officials would see that supporting a discussion over whether to raise the rate, the people said. The comments from the people suggest that provided there is more clarity on the global trade situation, the central bank could raise rates by the end of this year. The BOJ meets on Monday and Tuesday next week and is widely expected to stand pat with investors focusing largely on its future bond buying plans and whether it will slow its paring of purchases from spring next year. For the time being the trade picture remains very unclear. Japan's top negotiator will arrive in Washington on Friday for a sixth round of talks with the US ahead of a Group of Seven summit in Canada. Prime Minister Shigeru Ishiba may meet President Donald Trump on the sidelines of the G-7 gathering. While Japan is seeking the removal of 25% tariffs on autos as part of the trade talks, Trump said Thursday he was considering raising the levies on car imports to the US even higher. Should clarity emerge on the trade front, though, the central bank would be in a position to consider raising rates given the firmness of prices, the people said. Recent price growth is a tad stronger than officials expected earlier in the year, the people said. Some officials see the relative strength in inflation reflecting a change in price-setting behavior with sharp increases in the price of rice likely to harden inflationary views among consumers, they said. Core inflation accelerated to 3.5% in April, the latest available national price data showed. In a survey conducted earlier this month, some 34% of economists expect the central bank to wait until January before raising the rate again, making that month the most popular choice for the next hike. American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software New Grads Join Worst Entry-Level Job Market in Years US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom As Companies Abandon Climate Pledges, Is There a Silver Lining? ©2025 Bloomberg L.P.
Bloomberg
43 minutes ago
- Bloomberg
US Corporate Profit Fat Offers Cushion for Absorbing Tariffs
I'm Ben Holland, an economics editor in Washington. Today we're looking at the implications for inflation from US corporate profit margins. Send us feedback and tips to ecodaily@ And if you aren't yet signed up to receive this newsletter, you can do so here. More than four months into the most aggressive ramp-up in US import duties in the postwar era, there's barely a trace of tariff-led inflation. One potential explanation some economists are offering: US retailers are absorbing a chunk of the costs.
