You can see it in the numbers," Singh told an event hosted by the Alliance for American Manufacturing. Data showed that China had a significant overcapacity relative to projected demand for electric vehicles, batteries or semiconductors, Singh said, noting that Chinese producers were reporting "persistent losses." Advertisement"China is flooding strategic sectors with supply that's well beyond what global demand can plausibly absorb, and therefore wiping out the competition," he said. Washington has previously said the US may need to take further and "more creative" actions beyond tariffs to protect US industries and workers against China's growing excess industrial capacity. And so there is a gigantic amount of overcapacity that is threatening our own attempts to build in these areas," she said.

Source: Manila Times October 19, 2024 04:17 UTC