on the go and need tonight, i'll just there is only move i left. is that the, this is where we, the sex allies. from out is there is a mobile app available in your favorites apps to just set for it and tapped on a new app from out to 0 new at you think? is it the on the hello i'm adrian said again, and this is counting the cost on ultra 0. you'll, we can look at the business of the, to the next. this reach ratcheting up the trade war with china. the us slips massive terrace on chinese goods. aging launches its own empty dumping inquiries following dimensions. once a worldly, the cube, the sugar industry is collapsing,

the decline and production put in parts of the sectors of the islands. crisis is a tony at a moving shortage in critical minerals needed for the energy transition. so why is global investment in the mining of us materials decline? the chinese impulse helped to push down the cost of products like video games, t shirts, and home appliances in the us box, many american factories say best driven them out of business. so the cost more than a $1000000.00 jobs president, jo, bites necessity won't allow, trying. that's a quote on fairly control the markets in a pre election effort to protect industries and workers who sharply res terrace on chinese imports ranging from electric vehicles to solar cells. beijing is launched its own anti dumping investigation following the measures. so who has the upper hand, will discuss it shortly with all guests, but 1st,

a report from image in cuba, a joint he's made solar cells, lithium on, but trees and the metric vehicles are set to double triples and quadruple in price, respectively in the us. thanks to new trade targets by president boynton. china is not happy about you guys, and china always opposes unilateral terrace increases that violate w t a roles and will take all necessary measures to safe guidance. legitimate rights and interests facing says the move damages, biological cooperation, just hit back with an empty dumping inquiry into plastic, whitening, ported from the us, the toy one and japan. as a european union has also launched investigations into chinese impulse. boyd and says he has to protect us was an industry from heavily subsidized chinese export. if you want to do business with china, you gotta have a 51 percent chinese owner. you've got to provide access to all your intellectual property. sometimes it's just outright still through cyberspace. there's another

minute there's been a well documented and internationally recognized when you make tactics like these and they're not competing. it's not competition as cheap. boynton is making sure the restrictions in place ahead of the november presidential election. it may help him in the post. many voters to unhappy with the us economy. although his tar it's set to be was $18000000000.00, are expanding on types worth $300000000000.00 imposed by former president donald trump. trump says the us auto industry in the face of blood vault if he loses in november and that he will impose a 100 percent terrace, one e cause made outside the us. so long you, since the us only impulse to present their electric vehicles from china, the impact of this policy will be minimal. i'm going to affect the overall economy . the bathing says the us aims to stifle joint is green industry. the country is

leaning towards clean energy to kind to slump in economic growth. this is, it really is to companion congress. you haven't china and get to the elections by competing to be to be an unfortunate casualty. maybe the us is green energy targets, and the 2 superpowers relations, which was already fraction of a minute to activity in the side, the joint to see even was, could be an old i trade will between the 2 global joints of industry, image and came out to 0 for counting the cost. let's take a look at some of the figures. china sold me $500000000000.00 worth of goods to the us last year, but it only imported around $148000000000.00 worth and return the us imports just 2

percent of its electric vehicles from china. but the figure goes up to the 70 percent for lithium ion batteries. now the organization for economic cooperation and development, the o e. c. d says the chinese manufacturer is received 9 times more states subsidies the western counterparts. chinese businesses receive aid, which is the equivalent to 3.7 percent of the revenue is on average compared to only north point 4 percent firms in high income countries. we have to ex bus to discuss all of this with us. joining us from the sol in south korea is steven open because the see of a pack advised as a consultancy operating at the intersection of business, government and sustainability. and from brisbin and australia work. powell, who was adjunct professor at queen's on university of technology and a cd, a fellow at the tight institute, a non government international. think find tank based in beijing strip of tabby with us. let's start with you. then as a steven a, what is the us?

so worried about chinese goods. okay. they're not worried about chinese goods per say. they're worried about chinese goods that come into the us through unfair competition in, in strategic industries. and so to understand the by the administration's actions here, and really the trump administration's actions before that, you've got to go back a decade. you go back to what china has been doing with it's made in china 2025 policy that came out in 2015 were china said it was going to use state subsidies and protection to foster width in china ki sectors for the 21st century, including electric vehicles including renewable energy production that, that policy of china is very successful. and now trying that has a huge head start into the sectors. and as president biden said, we need these sectors ourselves in the united states. so to, to compete on a level playing field,

we have to put terrorist on those types of sectors. so it's not about banning chinese goods. it's not about tariff being all of chinese goods. as president trump said he would do it in the 2nd term. it's really looking at those factors that are strategic to the us and, and they've had unfair subsidies from china, and that's what he did. all right, work what, what's your take on this off chinese subsidies responsible for the decline of us manufacturing in the industry. us manufacturing industry has been declining now for other 40 is the 1st sounds of concerns around the industrialization and the hollowing out of american manufacturing began in the 19 seventy's and hasn't stop since. the fact of the matter is that over the last 40 years, the american political economy has 5 but of the cost of industries, particularly in financial services, stock exchange, and those sorts of areas instead of industrialization. and now the chickens have

come home to roost. it's not like this, the hidden agenda here, as your advocate has mentioned, chandra announced in 2015 a political and policy privacy around on domestic value adding and moving up to value china. and of course, it's being focused on things like electric cars will be full that if people bought repeating all the documents and they funding instruments coming out of the chinese political system, they would have known this well in advance. all right, steven. it's perhaps no. can it go into them? so this is an election yet in the us. i mean, a bivens moves, politically motivated, you think? is this a, an attempt to, to, to grab the votes this? oh, there's no question. any move by the, any administration it in a presidential election year is going to be looked at through through that election . so that is a given, i think the by not by the ministration would argue in this case, but this is good policy and good politics. there is no question that has been

tough on china is a positive in the us right now. it ensures a level playing field. it ensures that the united states can have an electric vehicle industry going forward in that if it doesn't have these types of tariffs, when there is unfair competition, there isn't going to be an electric vehicle industry in the united states and that is a national strategic importance wondering what is this going to do though to, to ultimately, to the us economy? is it going to help or hinder it? hey, well i, in terms of what will i do to the us economy in the short term. it's really going to have no impact on the us economy because as we said, there are literally 0 electric vehicles being imported into the united states from china right now. these, these terrorists are mostly, i'm goods, the new tears are mostly on goods that aren't coming in yet to ensure that the us industry can have a chance to get off the ground. because, you know,

as the other guest is noted, of us hasn't been investing in infrastructure and in the, in the united states as much as it should have been in it. it's trying to do that now. and so it's going to give it a chance. the terrorist that had been extended were put into place by donald trump and had been in place for that $300000000.00 has been in place for a few years now. so it's not going to have any new inflationary impact because that has already taken place, so it's not gonna really have any short term impact on, on the economy. it's unless you're, you're talking about extraordinarily specific factors may be, i'm certain medical devices but, but that's about it. a work. what does this mean for the rest of us? but what happens to the companies for the supply to america using a possibly using chinese produce goods, the global supply chains and now incredibly complex and many sophisticated products . requiring thoughts from production processes in a number of countries. to untangle all of that is extremely costly with significant

cost implications for downstream consumers and enterprises who rely on stable price to supply chains to bring their intermediate goods to them. so the, the last few years i've seen a lot of rhetoric around, you know, data escape in this, in the coupling. but the, the, the basic economic and engineering reality is that it's easier said than done. now, the competitive environment, main size of the world is best of including consumers in, in the process when they can access the least cost inputs for their activities that they need. so they can actually proceed to do what they do that. and um, and i think in, in, in due course of those 2 to shoot a rational economic policy framework as opposed to jumping on the short term

political cycle bandwagon will deliver real dividends for their economies and for the communities and workers that by side of i care about working with us at w t o fit in to, to one of this. well, the w t i, it's been frustrated over the past 6 plus years by the united states, which was frankly going rogue in terms of the, the global trade regulatory framework. since of 2018, the united states has stymied the appointment the top judges to the f, a light dispute resolution process as the w 2 got it and continues those sites. this is very unhelpful for the w t r. the 2nd point to remember about the w t. i was that the united states actually has the mice, complaints against the whole country, some products with the, with the last i checked the w t. i website, there was some kind of the 71 complaint launched against us products of the you have seen for memory about 12506 in china was well back in the pack with 14 on. so

when it comes to say you took participating in terms of fame, cuz we're talking about questions or fan that's on the and, and participation and i can try the us itself as clearly the bane arrived planned for quite some time stating final what do you then how do you respond to that the, that the us has been a rope play up for some time. it's going rogue a lot in, in, in the 21st century. you have to take into account national security when it comes to trade in economics. and that had not been the case previously. and now when you're a country and you're looking at what is going to happen if there's a panoramic and we have all of our sourcing from one country and we can't get in the medical in pharmaceuticals that we need and we can't get in in terms of climate change and, and addressing that on the critical minerals that we need. well then that becomes

a national security issue, and there has always been a national security exemption when it comes to the w t o. um, it is a different world now and there's, there's no question that that countries are looking at trade differently. they're looking at the w t o different weights. and that is what is going to make this competition and confrontation between between the us and china. you know, so, fraud and, you know, one of the worries going forward is the united states believes that can confront china where it needs to be confronted, such as it's doing on these terrorists. but that it can also cooperate with china. and of course, the most important issue the world is facing, which is the climate crisis. now the question is, will china except that framework will china except the tariffs coming in, but also cooperate with the united states at the, at the same time. so we really are on unimpressive pace of where trade and national security are intersecting within the climate crisis that that is, it should be

a concern to everybody gentlemen, but i'm afraid we're going to have to leave it manufactured. indeed steve, an open work paul. so the old cuban saying goes without sugar, there is no country, it's cuba was the, was top sugar exports of a hundreds of years and the industry was the main driver of the economy boss. the island has been under us sanctions for decades about in pause is affected the sugarcane harvest. we just hit its lowest level since 1900. once on thinkable, the now imports sugar to meet its demands. last season, cubis production felt with all time low of 350000 tons of low sugar. that's well below the 1300000 tons recorded in 2019. the san penn sugar outputs impacts other sectors of the cuban economy, including its export earnings, from rum, less than 3 percent of states, investment goes to the sugar industry. well, the collapse of the sugar industry is just one aspect of cubis faltering economy.

the island, the suffering, it's west economic crisis since the collapse of the soviet union in 1991. the tourism industry has dried up since the cobit 19 pandemic. depriving the island of as much as $3000000000.00 annually. foreign currency is in short supply, the peso is lost, maybe half its value against the dollar in 2024 alone. the government's budget gap is projected to increase to 18 and a half percent of economic output. this year, inflation is running a total of 30 percent. that's more than twice the life in america, regional average, and the average salary for cuban state workers is now less than $16.00 a month. when in response to the crisis, the cuban government does announce tough economic measures that include raising the price of fuel by more than 500 percent and coughing subsidies for staples like eggs and rice, except for those the vulnerable fuel power, mid some milk and other food items are in short supply. in march, the government,

the us b, u. n's food program for help. for the 1st time. i miss owns the children a supposed to get 3 kilograms of milk a month, but now they're only given 1.5 kilograms a month. and then the, okay, so that let's, let's milk, i can't remember the last time i drink mil, it's very expensive. cool. difficult time. although we have difficulties. we're still alive, like we cuban. se includes the month before the used to gets to point 3 kilos of rice per person per month. now they give nearly half a kilo of rice per person per month. and that's when it's available. joining us now from london, emily morris, and economist and research fellow at the university college of london's institute of the americas. good to have you with the assembly. so why it has cubis sugar industry collapse a us sanctions to blame or is it mismanagement? essentially what's happened is, but previously sugar on the soviet system was heavily subsidized to it

effect they were to kind of bought the system where they got cheap fuel in return to the show that um so now that having to compete well, market prices sport prices because they don't have any contracts with anybody is that should not be comic. i mean the sugar industry is not economic. it's not. it's now only accounts for less than 2 percent of total expo earnings. so yeah, in 1990 it was or the 70 percent. so that's the extent of the collapse of the sugar industry. so in the sense the reduction in production for the macro economy isn't that important? but i think psychologically it's important. gibbons like everybody else, think that the, the cuban economy is dependent on show that people have that kind of historical memory. and every year the government publishes its target for the sugar production . and once again, and it happens practically every year since i've been covering to but the last 2 years the talk is missed. and so that has

a psychological effect on anything that reduces export. earnings is significant because of the type of 2 of us foreign exchange constraint emulate then how can cubes, why the economic problems be addressed? kindly be fixed as well. is a very, very difficult problem because of the constraints on to them. foreign exchange of things are extreme not only because of the collapse of tourism and but also because of the us sanctions, tomato just prevents trade with obviously cuba is natural trading paula, but they also prevent trade with other apartments. and not only do they reduce the availability of foreign exchange, but they also result in the cancellation or contracts of um uh, ships arriving at short notice. so this extreme disruption as well as extreme type

for an exchange constraint. um, so what happened during the coverage um pandemic was essentially to go through everything i to in 2020. they did incredibly well in terms of the number people got pills and so on and 20 to 20. but they exhausted the foreign exchange as us. and so by 2021 they had nothing left. and so then now scrambling to try to meet the obligations that they've taken on. i mean like, why don't bill interviewees the side um as an expectation, gibbons expect the government to get some extremely cheap uh, russians supplies. and so the government has a commitment to do so. but given that it's built very little for an exchange. it's a struggle to do that all the time. and so what's the solution? the solution is to build up the foreign exchange earnings. they need to diversify

the economy. that's been in the substitute for a long time. in a sense, the recovery from the collapse of the soviet system was built on just a few items. it was very concentrated, a nickel tourism, the professional services. and really they need diversification. and that seems to be what they're pushing for. but trying to diversify to restructure the economy in the context of very, very little forward exchange is extremely difficult. what's life like for me cubans right now, as well as you saw that, you know, life is not just foods, you know they, they have very, very basic supplies of food, which is not as much as they used to. they have to choose an awful lot. they kind of upset to the inflation is very worried for people on fixed incomes. you know, with that kind of go next, the price is my markets a very, very high. but it's not even just that it's not on a queuing but it's also the transport issue. there's,

there's not enough fuel. the buses are all broken down. um, so every day life is extremely difficult. they also have power costs regularly. um, but having said that, you know, sometimes is portrayed as if everything is about to collapse. and actually as you see from those pictures, people know they haven't lost weight like i did in the 1990, is that our supply is there is manageable, but it's very, very difficult. and now of course they've got a huge heat wave which makes life even more impossible when you haven't got air conditioning. so, and so that really suffering and really frustrated because there's so many ideas they've opened up the private sector. so it's really possible for people to do things, but they have the finance and really, really good to talk to you on counting the cost manufacturing day for being with us . thank you very much. i. and finally, they needed to make wind turbines, electric vehicles, and other green technologies, minerals like culpa. let's see. i'm

a cobalt over in high demand. as many nation is trying to make the transition to clean energy. but the international energy agency says the world faces a shortage of those minerals, literally 70 percent of global demand for culpa and 50 percent for lithium. expected to be met by 2045. the prices of some of the elements fell sharply last year following 2 years of increases. the i a since the drop in price is discouraging investment in the mining of minerals. the parents based agency, full costs for the investors need to put something like $800000000000.00 into mining projects by 2040 to try to limit the rising global temperatures to one of the half degrees celsius brought a handful of nations and companies control their extraction china, for example, mines most of the rest of materials. joining us not from london id love to use the managing director of supply chain insights, good time he was assigned to. what's going on that within this industry. why? at the moment a mine is failing to meet the monk mean

a huge issue that this industry has is trying to match, the client would develop. what do you consider the takes years to find and then build mine and get that into the option that is applied to the question? what was on site can change in a matter of weeks. so it's incredibly difficult to get eyes to match. and the way that the market that matches the is by having price points. so price declines, which again makes it difficult for us the investment cycle, sorry about what we see the money that we have a huge fight to lift the price is. so can i respond in the process or crash? the same thing time a call when it was a price point can call the right, we'll take a little while to the investment to come through and actually find a box, a basement or was particularly rare or difficult to extract. no, i mean there's no geological shortage of any of the critical memos that we need for the energy transition to the barriers in, in traffic. so it's a problem saying that these operations are in some places in political well as well

. so these are the challenges that can be met, but not as the manageable, but they do need funding and they, they probably need government intervention as well. the united states relying surely on the, the ma, get the mining companies will say, assigning to increase the charges that we need for the i g transition. those are some of the more of a china of the above it is mining. most of these were a minerals of one of the changes in that a sense the front that i can this is the trend of the guidelines ation and well, what we've seen is the signal points inside here. and this will try trying on that welcome uh, you know, particularly in the west. and while the resources themselves are very geographically to best buy and it has to build up a huge run, a processing capacity in things like science, the author accept trip. and that single, quite frankly, just isn't seeing as, as politically acceptable. so what we're seeing is, uh west trying to back simply,

you know, secondary splunk change to these materials. not always the types of money. and where are you going? stablish markets which are in honor supply and my margins, the commercial incentive for private industry to develop a secondary supply chain is necessary that so again, it comes back to the governments needing to get involved to provide, get it changed resources to, to treat that capital. so you have to make those investments. i mean, what does all of this mean for consumers like you and i so in some respects the same is all shouts is from, from the price increases. you know, if the price splits him don't, it doesn't necessarily reflect in the price will be right after bank, whoever not, the companies effectively do take on that quantity. let's say that policy, let's see, is the, is no surprise when it comes to making these thoughts have investments. so i think draw, it creates a little bit of offsets and see, we're also facing the impact that is they don't make these investments and balance

of mine to bonds. they made the round. so how does the energy trans issue and you know, when you look, they're trying to change the easiest way to reduce emissions is a lot of the cash and i have an attraction to transport. that expectation of people buying the industries and the government needs critical materials. it needs transmission lines need to call her read about trees, to store energy. and you know, we talked to that then it's going to be charged me $20.00 of the spring, right? so 2 accounts and the cost many types of data being with us. thank you. that's all show for this week. if you'd like to comment on anything that you've seen, i'm an a citizen on x, please try to remember to use the hash tag a j. so you can see, or you can drop is a line counting, the cost of elders 0 don't met is on the email address. as always, there's plenty more few online at elder 0 dot com slash ctc. that takes you

straight to the page. and then you'll find individual reports links at a time episodes for you to capture. but that's it for this edition of counting the cost on a tree instead of going to the whole team here, thanks for being with us. the news on al jazeera is next a unique perspective, a deep sake image of donald trump, with flat folders to try to win over black voters. these aren't real, but the harm is incredibly real. it on hud voices. it's our responsibility to make sure that future generations are not lied to connect with our community and tap into conversations you weren't find elsewhere. young americans, in particular, have been extremely critical of the united states as role in the us, the stream on out to 0. a former film and for you to stop traumatized by eastern few knows more of independence,

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