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xtruss · 3 months ago

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Foreign Policy Priorities: Kamala Devi Harris’s Positions

— By Council on Foreign Relations

AI and Technology

Harris has played a leading role in developing U.S. policy toward artificial intelligence (AI). The Biden-Harris administration has framed supporting the U.S. technology sector as a matter of national security, even as it has sought to confront large tech companies for alleged unfair market practices.

Harris led the formulation of an executive order requiring companies to share with the government risks they are facing and outlining a framework for the safe use of AI that federal agencies can follow.

She reportedly suggested that leading AI firms agree to voluntary safety commitments, including a pledge to submit their most powerful models for government review; fifteen of them did so in 2023. She also led efforts to develop rules surrounding military use of AI that have been agreed to by more than fifty countries.

The Biden-Harris administration passed the CHIPS and Science Act in August 2022, directing more than $280 billion in funding toward domestic production of advanced technologies and the hardware that underpins their development, such as semiconductors.

The same year, the administration published an “AI Bill of Rights” identifying five principles for the responsible deployment of the technology. Harris says U.S. policy toward AI should both stimulate innovation and protect against “profound harm.”

Harris represented the United States at the first international AI governance summit in London in 2023. The summit produced a joint declaration that seeks to ensure the technology is “human-centric, trustworthy, and responsible.” China has also signed the statement.

The Biden-Harris administration unveiled a new National Cybersecurity Strategy in 2023 that urges U.S. companies to take responsibility for ensuring that their systems cannot be hacked and suggests that they could be held legally liable for not protecting “digital infrastructure.” The strategy also called for expanding U.S. military authorization to preempt foreign cyberattacks.

The administration has asked Congress to create legislation strengthening antitrust enforcement that can be used against large technology firms. The Department of Justice has pursued antitrust cases against Apple, Amazon, Google, and other big tech firms.

The administration has cracked down on cryptocurrencies due to concerns over their utility in evading sanctions, laundering money, and financing terrorism. It has directed the Federal Reserve to explore developing a central bank digital currency (CBDC). Harris is reportedly seeking a “reset” with the crypto sector.

China

Harris says China is responsible for stealing intellectual property and distorting the global economy with unfairly subsidized exports. The Biden-Harris administration has argued that China’s growing influence and aggression in some areas are the leading national security threat to the United States.

Harris says she will ensure that “America, not China, wins the competition for the twenty-first century.” The Biden-Harris administration has placed stringent restrictions on exports of high-tech products to China that it deems critical to national security. It has pressed U.S. partners in the European Union and elsewhere to impose similar measures on Chinese tech.

She argues that the United States should “de-risk,” not decouple, from China, arguing that Washington lost the trade war that began under Trump. The administration has retained $360 billion worth of tariffs on China imposed by Trump and introduced a raft of its own.

These restrictions followed major legislation that subsidized domestic manufacturing of computer chips, electric vehicle parts, and other new technologies. Firms that produce such goods in China are not eligible for U.S. subsidies.

Harris says the Chinese-owned social media app TikTok poses national security concerns. In April 2024, Biden signed a bill that will ban TikTok from the United States if it is not sold by 2025; Harris has said a ban is not the administration’s intention.

In 2022, she said the United States would “continue to support Taiwan’s self-defense” in line with long-standing U.S. policy of “strategic ambiguity” toward the island that China claims as its own.

Her campaign says she helped lead administration efforts to ensure freedom of navigation through the South China Sea and sought closer ties with American allies in the Indo-Pacific, including Australia, Japan, the Philippines, and South Korea. In April 2024, Harris hosted the first-ever trilateral summit between the United States, Japan, and the Philippines.

Harris met with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation summit in 2022, urging him to “maintain open lines of communication to responsibly manage the competition between our countries.” Under the Biden-Harris administration, the United States and China agreed to pursue policies aimed at tripling global renewable energy capacity.

The Biden-Harris administration unveiled two programs aimed at building infrastructure in lower-income countries to counter China’s Belt and Road Initiative.

As a senator, Harris cosponsored legislation calling on several U.S. agencies to investigate China’s crackdown on the Uyghur ethnic group and the autonomy of Hong Kong.

Climate Change

Harris describes the climate crisis as an “existential threat.” She has supported many of Biden’s climate policies, including his decision to rejoin the Paris Agreement, and cast the tiebreaking vote in the Senate to pass the largest clean energy and climate investment bill in U.S. history.

Harris backed Biden’s decision to return the United States to the 2015 Paris Agreement, under which nearly two hundred countries agreed to reduce their greenhouse gas emissions to limit global temperature rise.

She cast the tiebreaking vote on the 2022 Inflation Reduction Act (IRA), the largest investment in climate-related policies in U.S. history. The bill budgets roughly $370 billion for emissions-reduction efforts, including tax credits and subsidies for clean energy projects. The IRA builds on the 2021 Infrastructure Investment and Jobs Act (IIJA), a $1.2 trillion law to upgrade U.S. infrastructure and spur the adoption of electric vehicles, among other measures.

As part of the IIJA, the Biden-Harris administration created the Civil Nuclear Credit Program to invest $6 billion in existing nuclear energy facilities. In March 2024, the administration announced it will lend $1.5 billion to Michigan to restart a shuttered nuclear plant, the nation’s first such recommissioning.

Harris launched a new partnership between the United States and Caribbean countries that seeks to strengthen energy security, critical infrastructure, and local economies in the region.

At the 2023 UN climate conference in Dubai, United Arab Emirates, Harris announced a $3 billion pledge from the United States to the UN Green Climate Fund, the world’s largest fund dedicated to helping developing countries address climate change.

The Biden-Harris administration created the American Climate Corps, a jobs program that aims to train tens of thousands of young people in high-demand skills for careers in climate action and clean energy. The program is modeled after President Franklin D. Roosevelt’s Civilian Conservation Corps.

The Biden-Harris administration has approved a range of new fossil fuel projects, including an $8 billion oil drilling project in northern Alaska. However, it also announced restrictions on new oil and gas leasing on 13 million acres (5.3 million hectares) of an Alaskan federal petroleum reserve. Under the administration, oil and gas production has continued to grow to historic highs, with the United States becoming the world’s largest crude oil producer.

As a 2020 presidential candidate, Harris put forth a $10 trillion plan that called for net-zero emissions by 2045 and a carbon-neutral electricity sector by 2030. She also pledged to end federal support for the fossil fuel industry and called for a carbon tax and a ban on fracking. Her 2024 campaign said she will not ban fracking.

As a senator in 2019, Harris was an early co-sponsor of the Green New Deal, a nonbinding congressional resolution that aimed to help the United States transition to 100 percent clean energy within a decade, and said she would eliminate the Senate filibuster to pass the deal if needed.

Defense and North Atlantic Terrorist Organization (NATO)

Harris has positioned herself as a strong supporter of multilateral cooperation and the North Atlantic Treaty Organization (NATO). She has emphasized the U.S. commitment to Ukraine and furthered U.S. space policy as chair of the White House National Space Council.

The Biden-Harris administration’s 2022 National Security Strategy [PDF] broadly maintained the Trump administration’s focus on great-power competition with China and Russia. Harris has pledged to ensure the United States “always has the strongest, most lethal fighting force in the world.”

At the Munich Security Conference in 2024, Harris reaffirmed the U.S. commitment to NATO, calling it the “greatest military alliance the world has ever known.” Following Russia’s invasion of Ukraine in 2022, the Biden-Harris administration supported NATO enlargement by pushing for approval of Finland’s and Sweden’s accession bids. (The countries joined NATO in 2023 and 2024, respectively.)

The Biden-Harris administration also formulated an updated Indo-Pacific Strategy [PDF], which pledges to support “a free and open Indo-Pacific.” To that end, the United States has inked a new defense pact with Papua New Guinea and advanced an existing defense agreement with the Philippines. The Biden-Harris administration has also deepened security cooperation with Japan and South Korea, and it held the inaugural in-person summit of the so-called Quad—an alliance comprising the United States, Australia, India, and Japan—which aims to counter China in the Indo-Pacific.

The administration announced a new trilateral pact with Australia and the United Kingdom, known as AUKUS, that seeks to bolster the countries’ allied deterrence and defense capabilities against China, including by supplying Australia with nuclear-powered submarines.

Harris has called for greater involvement with Africa, and in 2023, led a weeklong trip to the continent. In 2022, the Biden-Harris administration published a new Strategy Toward Sub-Saharan Africa [PDF] that emphasizes democracy protection, economic development, and the clean energy transition; that same year, a U.S.-Africa Leaders Summit produced commitments to increase U.S. military aid and training for African governments.

Harris chairs the White House’s National Space Council, which advises the president on space policy and strategy. In 2022, she announced the U.S. commitment to halt anti-satellite weapons tests, which create dangerous atmospheric debris. She has also overseen a large increase in the number of signatories to the Artemis Accords, a global agreement governing space-related activity.

In 2019, she told CFR that the war in Afghanistan “must come to an end.” The Biden-Harris administration withdrew all remaining U.S. troops from the country in August 2021 as part of an earlier deal struck by Trump.

She also told CFR that she would consider some sanctions relief to improve life for North Koreans in exchange for Pyongyang taking “serious, verifiable steps” to denuclearize.

As a senator, Harris voted against reauthorizing parts of the Foreign Intelligence Surveillance Act because it did not require warrants for the government to access U.S. citizens’ information.

Fiscal Policy and Debt

The Biden-Harris administration has focused on making public investments in infrastructure and green energy, expanding the middle class, and challenging monopolistic consolidation. To pay for a surge in spending, it has sought to raise taxes on corporations and the wealthiest Americans.

Harris supported legislation signed by Biden that authorized trillions of dollars in new public spending. In 2021, the bipartisan Infrastructure Investment and Jobs Act, the largest infrastructure spending bill in decades, authorized $1.2 trillion in spending toward U.S. roads, railways, airports, and other infrastructure. Additional subsidies for semiconductor and climate investments have surpassed $800 billion.

Nonpartisan watchdogs expect that the administration’s spending programs will increase the growing federal deficit by more than $1 trillion over the next decade. The deficit is now $1.7 trillion, and the national debt has climbed past $30 trillion, or more than 100 percent of U.S. economic output.

She has backed Biden’s proposals to institute $5 trillion worth of tax increases. She supports raising the top income tax rate, taxing capital gains like income for Americans making more than $1 million, and implementing a wealth tax that would impose a 25 percent levy on individuals with more than $100 million worth of total assets, including unrealized gains. She also favors raising the corporate tax rate from 21 to 28 percent.

Harris says that building the middle class will be a “defining goal” of her presidency. Her proposed policies include raising the minimum wage, eliminating taxes on tips, and creating a newborn child tax credit of up to $6,000 per year. The economic proposals in a fact sheet released by the Harris campaign would add $1.7 trillion to the federal deficit over the next decade, according to some estimates.

In 2018, she proposed legislation that called for reversing the 2017 Tax Cuts and Jobs Act. Many of these cuts are set to expire in 2025; Biden has proposed maintaining cuts for Americans making less than $400,000, a plan Harris now supports.

In 2021, the Biden-Harris administration brokered a global agreement to tax corporations at a minimum of 15 percent, though it is yet to be implemented. A year later, the administration introduced a 15 percent corporate minimum tax on U.S. companies with annual income over $1 billion. Harris supports raising that rate to 21 percent.

The administration has made antitrust policy a priority, challenging alleged monopolies in the aviation, energy, and technology sectors. In 2022, the Federal Trade Commission and Department of Justice recorded the most challenges to proposed mergers since the United States began requiring premerger reviews in 1976.

Global Health and Pandemic Prevention

Harris has prioritized national and international health-care issues. She has long been an outspoken supporter of reproductive rights, advocating for new legislation to restore abortion rights overturned by the Supreme Court. She has also played a role in the administration’s efforts to address the opioid epidemic.

The Biden-Harris administration pursued an aggressive COVID-19 vaccination policy that included free vaccine access and a nationwide vaccine mandate that would have affected most large employers. (The Supreme Court later struck down the mandate.) In 2021, the administration released a national pandemic strategy [PDF] that focused on quickly ramping up vaccine production, protecting essential workers, and expanding access to testing and treatment.

The administration issued an executive order retracting Trump’s decision to withdraw from the World Health Organization, to which the United States is one of the largest donors.

In 2023, Harris convened state attorneys general from across the country to discuss state and federal efforts to address the U.S. opioid epidemic. The Biden-Harris administration has declared synthetic opioid trafficking a national emergency; sanctioned firms and individuals in China, a critical node in the drug’s supply chain; and pushed China and Mexico to do more to stem the flow of fentanyl into the United States.

In 2022, the Biden-Harris administration unveiled a new national biodefense strategy [PDF] that aims to help the United States better prepare for large-scale biological or viral threats that could emerge in the future. The strategy led to the creation of the White House’s Office of Pandemic Preparedness and Response Policy, tasked with coordinating, leading, and implementing pandemic preparedness efforts.

Harris has been a leading voice on reproductive rights. She criticized the Supreme Court’s decision to overturn Roe v. Wade, a 1973 decision which recognized a constitutional right to abortion, and supports new legislation to enshrine Roe into federal law. In 2021, the Biden-Harris administration rescinded the so-called Mexico City policy blocking abortion-related programs from receiving U.S. foreign aid, saying that it undermined U.S. efforts to support women’s health.

As a senator, Harris cosponsored legislation that sought to ban states from imposing restrictions on abortion rights, and she voted against a bill that aimed to ban abortions after twenty weeks.

Immigration

Harris advocates for comprehensive immigration reform. She was tasked with leading the federal effort to address the root causes of migration from Central America, though her comments dissuading would-be migrants from traveling to the United States have created controversy.

Harris has promised to reform the “broken” immigration system, including by bringing back and signing into law the bipartisan border security bill that failed twice in Congress.

Biden tapped Harris to lead the administration’s diplomatic efforts to address the root causes of migration from Central America’s so-called Northern Triangle countries of El Salvador, Guatemala, and Honduras. Since 2021, Harris has helped secure some $5 billion in private sector investment to promote economic opportunities and curb violence in Central America.

During her first international trip to Guatemala and Mexico in 2021, she told would-be migrants thinking about making the dangerous trek to the southern U.S. border “do not come” given the likelihood they would be turned away by border authorities.

The Biden-Harris administration reinstated the Central American Minors program, which has allowed thousands of children from the Northern Triangle to gain refugee status or temporary legal residence before traveling to the southern U.S. border.

The Biden-Harris administration has sought to rebuild the U.S. refugee resettlement program after Trump made large cuts. In fiscal year 2023, the United States welcomed more than sixty thousand refugees, over double the previous year. The administration also created new parole programs that have welcomed tens of thousands of Afghan and Ukrainian refugees to the United States.

The administration has sought to restore asylum access, including by ending daily limits on asylum applications and restoring protections to victims of domestic and gang violence. However, it unveiled a new policy in 2023 that allows the government to deny asylum to migrants who did not previously apply for it in a third country and to those who cross the border illegally. This approach includes new screening centers in several Latin American countries.

In 2024, the administration also issued an order temporarily blocking people who illegally cross the border from seeking asylum once the number of daily crossings exceeds a certain threshold—which it has for much of Biden’s presidency. A separate order also expanded green card access for certain undocumented immigrants who are married to U.S. citizens.

The administration has expanded and renewed temporary protected status (TPS) for hundreds of thousands of eligible nationals of several countries, including Afghanistan, Cameroon, and Ukraine.

The Biden-Harris team has expanded the capacity of some guest worker visa programs in response to the increasing demand for temporary workers.

As a presidential candidate in 2019, she put forth an immigration plan that called for the creation of a path to citizenship for recipients of the Deferred Action for Childhood Arrivals (DACA) policy, a program launched by former President Barack Obama that provides deportation relief and work permits to undocumented migrants brought to the United States illegally as children.

In 2020, she reintroduced the Access to Counsel Act, which would ensure that people held or detained while entering the United States have access to legal counsel. She originally introduced the bill—her first as a senator—in 2017. She also supported legislation that would have expedited the reunification of immigrant families.

Middle East

Harris backs Israel’s right to self-defense but has also been outspoken about the toll on Palestinian civilians amid the war between Israel and Hamas. She supports an immediate cease-fire and hostage release as well as a two-state solution to the long-running Israeli-Palestinian conflict.

Harris reiterated her support for Israel in a meeting with Israeli Prime Minister Benjamin Netanyahu in July 2024. She has welcomed U.S. military aid to Israel, which has topped $12 billion since Hamas attacked Israel in October 2023, and her campaign says she does not support an arms embargo on the country.

Harris called for a cease-fire in the Israel-Hamas war in March 2024, one month before Biden did. She said she supports “Israel’s legitimate military objectives to eliminate the threat of Hamas” but decried the “humanitarian catastrophe” in the Gaza Strip. She has pressed Israeli leaders to do more to protect civilians and has pushed the Israeli government to allow more aid into Gaza.

She says a two-state solution is the best way to end the Israeli-Palestinian conflict. She has called for a “revitalized” Palestinian Authority to govern a unified Gaza and West Bank. She also says Israel needs to hold “extremist settlers” in the West Bank accountable for violence against Palestinians. In February 2024, the U.S. Treasury Department sanctioned four Israeli settlers accused of violence in the West Bank.

In 2021, she affirmed U.S. support for the Abraham Accords, a series of normalization deals between Israel and Arab countries negotiated by the Trump administration.

Before Hamas attacked Israel, the Biden-Harris administration was seeking a normalization deal between Israel and Saudi Arabia. In exchange, Riyadh had asked for formalized U.S. security guarantees, cooperation on a civilian nuclear program, and Israeli concessions toward Palestinians.

As a senator, she supported a 2018 resolution calling on the president to end all military actions in Yemen and voted to block weapons sales to Saudi Arabia. The Biden-Harris administration froze certain offensive arms sales to Saudi Arabia in 2021 before resuming them in August 2024 with a $750 million weapons sale.

She says she will take “whatever action is necessary” to defend U.S. troops against Iran and its proxies. After Iran-aligned forces killed three U.S. service members in Jordan in January 2024, U.S. military forces struck more than eighty-five Iran-linked targets in Iraq and Syria.

In 2019, she told CFR that she would rejoin the 2015 Iran nuclear deal if Iran returned to compliance. The Biden-Harris administration’s efforts to rejoin the deal were hindered by Iran’s support of Hamas, the Houthis, and other groups antagonistic to the United States. After Iran-aligned forces killed three U.S. service members in Jordan in January 2024, U.S. military forces struck more than eighty-five Iran-linked targets in Iraq and Syria.

Russia–Ukraine

Harris says the United States will back Ukraine’s defensive efforts against Russia for “as long as it takes” to counter the threat that a Russian victory would pose to the rest of Europe. She has represented the United States at peace talks on Ukraine and encouraged Congress to give Kyiv tens of billions of dollars in financial assistance.

Harris has condemned Russia’s invasion, saying the United States is “committed to helping Ukraine rebuild” and achieve “a just and lasting peace.” Since 2022, the United States has provided Ukraine with some $175 billion in assistance, including financial, humanitarian, and military support.

In June 2024, Harris represented the United States at a peace summit organized by Ukraine in Switzerland, where she sought to rally global support to pressure Russia to end its war. At the summit, she pledged close to $2 billion in additional aid for Ukraine.

Harris argues that a failure to respond to Russian aggression in Ukraine would embolden other countries considering invasions. She has helped coordinate with Western allies to impose sweeping sanctions, export controls, and other penalties on Russian entities and individuals, including the Russian private military company Wagner Group. The measures have focused on isolating Russia from the global financial system, limiting its energy exports, and hampering its military capabilities.

She says Russia has committed crimes against humanity in Ukraine. In 2019, she told CFR that Russia’s occupation of Crimea is a “severe violation of international norms.”

In 2018, Harris was among more than two dozen Democratic lawmakers who objected to Trump’s decision to withdraw from a 1987 treaty that required the United States and Russia to eliminate their stockpiles of midrange, ground-launched nuclear missiles.

Trade

Harris says trade is important for economic growth but argues that trade deals should shield American workers from unfair practices abroad. The Biden-Harris administration has applied new guardrails on trade aimed at promoting U.S. manufacturing, countering China’s economic rise, and addressing worsening climate change.

Before becoming vice president, Harris said she is “not a protectionist Democrat” and opposed widespread tariffs, which she has argued contribute to inflation. However, the Biden-Harris administration has maintained some $360 billion in tariffs on China that were implemented by Trump and introduced tens of billions of dollars in additional duties.

The Biden-Harris administration has argued that previous trade deals focused too much on boosting corporate profits while exposing U.S. workers to unfair competition. It has sought to strengthen investment in U.S. manufacturing and infrastructure to increase the country’s economic competitiveness.

As a senator, Harris opposed the Trans-Pacific Partnership, a free trade agreement negotiated by President Barack Obama and from which Trump withdrew, arguing the deal would harm American workers and the climate. The Biden-Harris administration has instead sought to negotiate a successor deal that includes cooperation on supply chains but does not eliminate tariffs or increase access to the U.S. market.

She was one of ten senators to oppose the U.S.-Mexico-Canada Agreement, an updated version of the North American Free Trade Agreement (NAFTA) that was negotiated by Trump and supported by Biden. In 2019, she said that she would not sign a trade deal “unless it protected American workers and it protected our environment.”

The Biden-Harris Administration has mobilized the federal government to support strategic domestic industries, an effort known as industrial policy. Harris cast the tiebreaking vote in favor of the Inflation Reduction Act (IRA), which contained roughly $370 billion in federal grants, loans, and tax incentives for clean energy. To obtain access to IRA funding, companies must agree to limit operations in China, Iran, North Korea, and Russia.

In 2022, the administration passed the CHIPS and Science Act directing hundreds of billions of dollars toward U.S. semiconductor manufacturing. It has also imposed a slew of new restrictions aimed at curtailing Beijing’s access to advanced technologies and pushed U.S. allies, including major semiconductor suppliers Japan and the Netherlands, to implement similar restrictions.

Harris has said that she wants to reform the World Trade Organization (WTO). The Biden-Harris administration has pushed for changes to the WTO’s dispute-settlement mechanism even as it has continued Trump’s and Obama’s practice of blocking nominees to its appeals court, saying that China is gaming the system.

#Council on Foreign Relations #CFR Education #Newsletter #Kama Devi Harris #Tim Walz #AI and Technology #China #Climate Change #Defense | North Atlantic Terrorist Organization (NATO)#Fiscal Policy | Debt #Global Health | Pandemic Prevention #Immigration #Middle East #Russia 🇷🇺 | Thug Ukraine 🇺��#Trade

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rjzimmerman · 7 months ago

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Excerpt from this story from EcoWatch:

In its new Global EV Outlook 2024, the International Energy Agency (IEA) said electric vehicle (EV) sales will reach 17 million this year — up from 14 million in 2023.

In 2024, EVs are projected to make up roughly one out of nine cars sold in the United States, one in four in Europe and 45 percent of total car sales in China, an IEA press release said.

“Electric cars continue to make progress towards becoming a mass-market product in a larger number of countries,” the report said. “Tight margins, volatile battery metal prices, high inflation, and the phase-out of purchase incentives in some countries have sparked concerns about the industry’s pace of growth, but global sales data remain strong.”

More than one-fifth of cars sold globally in 2024 are predicted to be electric, with growing demand set to substantially reduce oil consumption used for road transportation over the coming decade, the press release said.

The pace of EV sales means road transportation’s oil demand is expected to peak around 2025, according to the IEA report, as Reuters reported.

The report added that around six million barrels of oil per day would be cut from oil demand by 2030, with an 11 million barrel reduction by 2035 if countries meet their stated climate and energy policies.

By 2030, EVs are projected to make up nearly one in five cars on the roads in the U.S. and European Union and one in three in China.

#International Energy Agency #electric vehicles

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dreaminginthedeepsouth · 7 months ago

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LETTERS FROM AN AMERICAN

May 14, 2024

HEATHER COX RICHARDSON

MAY 15, 2024

Today the White House announced tariffs on certain products imported from China, including steel and aluminum products, semiconductors, electric vehicles, batteries and battery components, solar cells, ship-to-shore cranes, syringes and needles, and certain personal protective equipment (or PPE). According to the White House, these higher tariffs are designed “to protect American workers and businesses from China’s unfair trade practices.” Tariffs are essentially taxes on imported goods, and altogether the tariff hikes cover about $18 billion in imported goods.

In 2018, Trump abruptly ended the economic era based on the idea that free trade benefited the global economy by putting tariffs of 25% on a wide range of foreign made goods. This was a cap to a set of ideas that had been sputtering for a while as industries moved to countries with cheaper labor, feeding the popular discontent Trump tapped into. Trump claimed that other countries would pay his tariffs, but tariffs are actually paid by Americans, not foreign countries, and his have cost Americans more than $230 billion. Half of that has come in under the Biden administration.

Trump’s tariffs also actually cost jobs, but they were very popular politically. A January 2024 National Bureau of Economic Research working paper by David Autor, Anne Beck, David Dorn, and Gordon H. Hanson established that the trade war of 2018–2019 hurt the U.S. heartland but actually helped Trump’s reelection campaign. “Residents of regions more exposed to import tariffs became less likely to identify as Democrats, more likely to vote to reelect Donald Trump in 2020, and more likely to elect Republicans to Congress,” they discovered.

Now Trump is saying, that if elected, he will impose a 10% tariff on everything imported into the United States, with a 60% tariff on anything from China and a 100% tariff on any cars made outside the U.S.

In contrast, the administration’s new tariffs are aimed only at China, and only at industries already growing in the U.S., especially semiconductors. Tariffs will rise to 50% on semiconductors and solar cells, 100% on electric vehicles, and 25% on batteries, a hike that will help the Big Three automakers who agreed to union demands in newly opened battery factories, as well as their United Auto Workers workforce. “I’m determined that the future of electric vehicles be made in America by union workers. Period,” Biden said.

The administration says the tariffs are a response to China’s unfair trade practices, and such tariffs are popular in the manufacturing belt of Michigan, Wisconsin, Ohio, and Pennsylvania. Democratic senators from that region have asked Biden to maintain or increase tariffs on Chinese imports after “[g]enerations of free trade agreements that prioritize multinational corporations have devasted our communities, harmed our economy, and crippled our job market.”

In other economic news, a new rule capping credit card late fees at $8, about a quarter of what they are now, was supposed to go into effect today, but on Friday a federal judge in Texas blocked the rule. The new cap was set by the Consumer Financial Protection Bureau (CFPB), the brainchild of Massachusetts Democratic senator Elizabeth Warren, and was part of the Biden administration’s crackdown on “junk fees.”

The U.S. Chamber of Commerce and the American Bankers Association sued to stop the rule from taking effect, and U.S. District Judge Mark Pittman, appointed by Trump, issued a preliminary injunction against it. His reasoning draws from an argument advanced by the far-right Fifth Circuit, which oversees Texas, Mississippi, and Louisiana, arguing that the CFPB itself is unconstitutional because of its funding structure. "Consequently, any regulations promulgated under that regime are likely unconstitutional as well," Pittman wrote.

On Friday, major airlines, including American Airlines, Delta Air Lines, United Airlines, JetBlue Airways, Hawaiian Airlines, and Alaska Airlines—but not Southwest Airlines—sued the U.S. Department of Transportation over its new rule that requires the airlines disclose their fees, such as for checking bags, upfront to consumers. The department says consumers are overpaying by $543 million a year in unexpected fees.

The airlines say that the rule will confuse consumers and that its “attempt to regulate private business operations in a thriving marketplace is beyond its authority.”

The other big story of the day is the continuing attempt of the MAGA Republicans to overturn our democratic system.

This morning, House speaker Mike Johnson (R-LA), second in line for the presidency and sworn to uphold the Constitution, left his post in Washington, D.C., to appear with former president Trump at his trial for falsifying business records to deceive voters before the 2016 election. The House was due to consider the final passage of the crucially important Federal Aviation Authority Reauthorization Act, but Johnson chose instead to show up to do the work the judge’s gag order means Trump cannot do himself, attacking key witness Michael Cohen, Trump’s former fixer. Johnson described Cohen as “clearly on a mission for personal revenge” and, citing his “history of perjury,” said that “[n]o one should believe a word he says in there.”

“I do have a lot of surrogates,” Trump boasted this morning, “and they are speaking very beautifully.” Senator Tommy Tuberville (R-AL), who was also at the trial this morning, later said on Newsmax that they had indeed gone to “overcome this gag order.”

Johnson went on to call the trial “corrupt” and say “this ridiculous prosecution…is not about justice. It’s all about politics.” He left without taking questions. Meg Kinnard of the Associated Press called out the moment as “a remarkable moment in modern American politics: The House speaker turning his Republican Party against the federal and state legal systems that are foundational to the U.S. government and a cornerstone of democracy.”

Peter Eisler, Ned Parker, and Joseph Tanfani of Reuters explained today how those attacks on our judiciary are sparking widespread calls for violence against judges, with social media posters in echo chambers goading each other into ever more extreme statements. According to her lawyer, Stephanie Clifford, also known as Stormy Daniels, wore a bullet-proof vest as she came and went from court, an uncanny echo of the precautions necessary in mob trials.

In a different attack on our constitutional system, House Republicans are trying to replace the administration’s foreign policy with their own. Over the weekend, they introduced a bill to force President Biden to send offensive weapons to Israel for its invasion of Rafah, overruling the administration’s decision to withhold a shipment of 2,000-pound and 500-pound bombs after Israeli prime minister Benjamin Netanyahu announced his government would invade Rafah despite strong opposition from the Biden administration.

White House press secretary Karine Jean-Pierre told reporters: “We strongly, strongly oppose attempts to constrain the president’s ability to deploy a U.S. security assistance consistent with U.S. foreign policy and national security objectives.”

The Constitution establishes that the executive branch manages foreign affairs, and until 2015 it was an established practice that politics stopped at the water’s edge, meaning that Congress quarreled with the administration at home but the two presented a united front in foreign affairs. That practice ended in March 2015, when 47 Republican senators, led by freshman Arkansas senator Tom Cotton, wrote a letter to Iran’s leaders warning that they would not honor any agreement Iran reached with the Obama administration over its development of nuclear weapons.

The Obama administration did end up negotiating the July 2015 Joint Comprehensive Plan of Action with Iran and several world powers, under which Iran agreed to restrict its nuclear development and allow inspections in exchange for relief from economic sanctions. In 2018 the extremist Republicans got their way when Trump withdrew the U.S. from the deal, largely collapsing it, after which Iran resumed its expansion of the nuclear enrichment program it had stopped under the agreement.

Now extremists in the House are trying to run foreign policy on their own. The costs of that usurpation of power are clear in Niger, formerly a key U.S. ally in the counterterrorism effort in West Africa. The new prime minister of Niger, Ali Mahaman Lamine Zeine, whose party took power after a coup d’état threw out Niger’s democratically elected president, defended his country’s turn away from the U.S. and toward Russia in an interview with Rachel Chason of the Washington Post. Recalling the House’s six month delay in passing the national security supplemental bill, he said: “We have seen what the United States will do to defend its allies,” he said, “because we have seen Ukraine and Israel.”

LETTERS FROM AN AMERICAN

HEATHER COX RICHARDSON

#Heather Cox Richardson #Letters From An American #tariffs #the economy #House Republicans #MAGA GOP #national security #foreign policy #fleece the consumer #late fees #hidden fees #consumer protection

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mariacallous · 1 year ago

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All roads lead to Phoenix. On the gravy train of greenfield investment riding on the back of Inflation Reduction Act legislative incentives in the United States, no county ranks higher than Arizona’s Maricopa. The county leads the nation in foreign direct investment, with Taiwan Semiconductor Manufacturing Corp. (TSMC), Intel, LG Energy, and others expanding their footprint in the Grand Canyon State. But Phoenix is neither the next Rome nor the next Detroit. The reasons boil down to workers and water.

First, the labor. America’s skilled worker shortage has been well documented since before the Trump-era immigration slump and pandemic border closures. Especially in the tech industry—the United States’ most productive, high-wage, and globally dominant sector—a huge deficit in homegrown engineering talent and endlessly bungled immigration policies have left Big Tech with no choice but to outsource more jobs abroad.

Arizona dangled its low taxes and sunshine, but TSMC has had to fly in Taiwanese technicians to jump-start production at the 4 nanometer chip plant that was meant to be completed by 2024, but has been delayed until 2025 at the earliest.

The salvage operation calls into question whether the more advanced and miniaturized 3 nanometer plant—scheduled to open in 2026 will stay on course. (With two-thirds of its customer base—including Apple, AMD, Qualcomm, Broadcom, Nvidia, Marvell, Analog Devices, and Intel—in the United States, it’s no wonder TSMC wants to speed things up.)

From electric vehicles to gaming consoles, the forecasted demand for the company’s industry-leading chips is projected to rise long into the future—and its market share is already north of 50 percent. Given the geopolitical risks it faces in Asia, a well-trained U.S. workforce could give it the comfort to establish the United States as a quasi-second headquarters. After all, Morris Chang, the company’s founder, had a long first career with Texas Instruments.

But the next slowdown they may face is Arizona’s dwindling water supply. In just the past year, Scottsdale cut off water to Rio Verde Foothills, an upscale unincorporated suburb on its fringes, due to the region’s ongoing megadrought and its curtailed allocation of Colorado River water. This was followed by Phoenix freezing new construction permits for homes that rely on groundwater.

Forced to find other sources, industry players have stepped up buying water rights from farmers, essentially bribing them to stop growing food that would serve the region’s fast-growing population. Then there are the backroom deals involved in an Israeli company receiving the green light for a $5.5 billion project to desalinate water from Mexico’s Sea of Cortez and pipe it 200 miles uphill through deserts and natural preserves to Phoenix.

Water risk brings political risk for companies. Especially in Europe, governments are carefully weighing the short-term benefits of corporate investment versus the climate stress it exacerbates. They have good reason to be suspicious: Firms such as Microsoft have been notoriously inconsistent in reporting their water consumption, and promises to replenish consumed water haven’t been delivered on. And even if data centers are becoming more efficient, growing demand just means more of them. Some European provinces have blocked data center development, pushing them to locations with high heat risk.

Europe’s regulatory stringency has long been off-putting to foreign investors, which is what makes European officials so weary of Washington’s aggressive Inflation Reduction Act, CHIPS and Science Act and Infrastructure Investment and Jobs Act.

But to fulfill its promise of putting the United States on a path toward sustainable industrial self-sufficiency, these policies need to better align investment with resources, matching companies to geographies that best suit their needs. It would be better to direct capital allocation to climate resilient regions than to throw good money after potentially stranded assets.

If any company ought to know better on all these matters, it’s TSMC. In Taiwan itself, the industry’s huge energy and water consumption are a source of controversy and difficulty. Not only have droughts on the island occasionally slowed production, but the company’s own water consumption rose 70 percent from 2015-19.

Furthermore, Taiwan knows that its real special sauce is precisely the technically skilled workforce that the United States lacks. Yet TSMC has doubled down on Phoenix, a place without a reliable long-term water supply for industry, little in the way of renewable energy, and a construction freeze that will make it challenging to house all the workers it needs to import.

With all the uncertainty over both water and workers, this begs the question of whether the semiconductor company the entire world is courting would have been better off establishing its U.S. beachhead in the upper Midwest or northeast instead? Ohio, upstate New York, and Michigan rank high in greenfield corporate investments, resilience to climate shocks, and are abundant in quality universities and technical institutes.

Amid accelerating climate change and an intensifying war for global talent, how can those devising U.S. industrial policy better select the appropriate locations to steer investment to?

States with higher climate resilience than Arizona are starting to flex for greater investment. According to recent data, Illinois has climbed to second place nationally for corporate expansion and relocation projects. The greater Chicago area and state as a whole are touting their tax benefits, underpriced real estate, growth potential, and grants to prepare businesses to cope with climate change.

Other parts of the Great Lakes region, such as Michigan and Ohio, are also regaining confidence in their industrial revival, pitching heavily for both domestic and foreign commercial investment while emphasizing their affordability and climate adaptation plans.

Just over the border, Canada has been wildly successful in poaching foreign skilled workers unable to secure or maintain green card status in the United States while also investing heavily in economic diversification—all with the benefit of nearly unlimited natural resources and energy supplies. While Canada hasn’t yet rolled out Inflation Reduction Act-style tax breaks to lure investors, it abounds in critical minerals for EV batteries (nickel, cobalt, lithium and rare earths such as neodymium, praseodymium, and niobium) as well as hydropower.

The more that climate change warps the United States, the more grateful it should be that its most natural and staunch ally occupies the most climate resilient real estate on the North American continent, even taking into account the raging wildfires of this summer. But rather than covet Canada the way China does Russia—as a vast and depopulated resource bounty—the United States and Canada should cooperate far more proactively on a continental scale industrial policy that would bring about true self-sufficiency from the Arctic to the Caribbean.

This is where geopolitical interests, economic competition, and climate adaptation converge. As Canada’s population surges by up to 1 million new permanent migrants annually, a more unified North American system would be more self-sufficient in crucial commodities and industries, less vulnerable to supply chain disruptions abroad, and avoid unnecessary carbon emissions from excessive inter-continental trade. Thirty years after the NAFTA agreement, it seems more sensible than ever to graduate toward a more formal, autarkic North American Union.

One can easily imagine Greenland joining one day—the country already enjoys autonomy from its colonizer (Denmark) and is now pushing for complete independence, driven partly by the desire to control more of the riches that climate change has revealed it to possess.

Meanwhile, in Taipei, there are far more complex geopolitical consequences to consider. TSMC has long been considered Taiwan’s “silicon shield,” a leader of industry so important that a conflict that took it offline would be a major own-goal for China. But it is precisely the combination of the China threat, environmental stress, and pandemic-era supply chain disruptions that convinced TSMC’s customers that its home nation represents too large a concentration risk.

Now TSMC and its rivals are expanding production from Japan to the United States, Europe, and India. This globally diversified set of chip manufacturers is easier for China to exploit as countries more susceptible to Chinese pressure become less rigid in compliance with U.S.-led export controls over advanced technologies.

At the same time, if the United States no longer depends on Taiwan itself for the majority of its semiconductor supply in just five to seven years, will it be as willing to defend Taiwan militarily? This, not Ukraine, is what Beijing is watching for as it pursues its own “Made in China” quest for self-sufficiency.

Industrial policy is back in vogue as a national security and economic strategy. But to get it right requires aligning investment into industry and infrastructure with the geographies of resources and resilience. The countries that build climate adaptation into their strategies will be the ones that build back better.

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fcc2024 · 9 months ago

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Introduction to nascent AI usage

From 2024 to 2035, the world of technology and AI has progressed quickly, at rates like never seen before. In recent years, China has emerged as a powerhouse in the AI field, investing heavily in quantum computing and network research. These technologies have enhanced machine learning capabilities, driving breakthroughs in complex problem-solving and pattern recognition. By 2028, they had implemented AI-driven governance systems to optimise public services, decision-making and urban planning.

The United States has also made significant progress in AI ethics and regulations, establishing a comprehensive framework to govern the responsible use of AI in various sectors. Its comprehensive usage of AI has then allowed the United States to remain as one of the AI powerhouse. elaborate more on US like you did for China, what specific fields of AI have they helped in

The European Union led the way with integration of AI in financial markets, utilising advanced learning algorithms for real-time risk assessment and market predictions, allowing their market share to grow more quickly than ever before. By leveraging on AI technologies, the EU has experienced exponential economic growth, while remaining aware of the potential threats of AI usages.

Other countries have also quickly made transitions, integrating the usage of AI in their daily lives. Utilisation of AI in militarisation has been prevalent in this day and age, with Israel at the forefront of this technology. Due to the steadfast advancement in technology for AI, It is now more powerful, efficient and deadlier than ever before. There has also been a heavy integration of AI in daily lives to solve socio-economic problems by Japan, implementing AI-driven healthcare systems that revolutionised patient care and diagnostics.

Globally, countries have been encouraged to embrace AI in environmental conservation, through employing machine learning algorithms to monitor and combat deforestation in their country. As part of environmental efforts, there is now an availability of sustainable food sources with a reduction of unsustainable agriculture. This is achieved through clever farming that reduces diseases in livestocks which in turn increases the food supply. Countries have also been exploring more alternatives to renewable energy and methods of reducing carbon emissions. In these years, some of the most noticeable shifts in the way of life due to technological developments include the prevalence of self driving cars and electric vehicles with AI incorporated to prevent any accidents (up to 75% of the world uses it), and crime rates being drastically reduced due to surveillance systems throughout the whole city, reaching a all time low. People are now also able to engage in services such as anti-ageing technology and space travelling.

The world today has truly made remarkable advancements in the field of AI. Welcome to the future, where the rise of artificial intelligence is nothing short of an unstoppable force, destined to shape the destiny of humanity. Long live the technological revolution!

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newstfionline · 1 year ago

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Monday, September 18, 2023

Americans broadly support military strikes in Mexico, Reuters/Ipsos poll finds (Reuters) About half of Americans support sending U.S. military personnel into Mexico to fight drug cartels, according to a Reuters/Ipsos opinion poll, though there is less backing for sending troops without Mexico’s approval. The findings show broad public support for calls by most major candidates in the 2024 Republican presidential nomination contest to send special forces into Mexico, the U.S.’s biggest trading partner, or conducting missile or drone strikes there. Some of the candidates have said they would be prepared to send military forces without first receiving permission from the Mexican government. With the United States experiencing a dramatic rise in overdose deaths related to the synthetic opioid fentanyl, tamping down the flow of narcotics from Mexico has become a major theme among Republicans. Almost 80,000 Americans died from opioid-related overdoses in 2022, according to the U.S. Centers for Disease Control, with fentanyl being the primary culprit.

Battle Over Electric Vehicles Is Central to Auto Strike (NYT) A battle between Detroit carmakers and the United Auto Workers union, which escalated on Friday with targeted strikes in three locations, is unfolding amid a once-in-a-century technological upheaval that poses huge risks for both the companies and the union. The strike has come as the traditional automakers invest billions to develop electric vehicles while still making most of their money from gasoline-driven cars. The negotiations will determine the balance of power between workers and management, possibly for years to come. That makes the strike as much a struggle for the industry’s future as it is about wages, benefits and working conditions. The established carmakers are trying to defend their profits and their place in the market in the face of stiff competition from Tesla and foreign automakers. Workers are trying to defend jobs as manufacturing shifts from internal combustion engines to batteries. Because they have fewer parts, electric cars can be made with fewer workers than gasoline vehicles. A favorable outcome for the U.A.W. would also give the union a strong calling card if, as some expect, it then tries to organize employees at Tesla and other nonunion carmakers like Hyundai, which is planning to manufacture electric vehicles at a massive new factory in Georgia.

Guatemala’s president-elect says he’s ready to call people onto the streets (AP) President-elect Bernardo Arévalo plans to call Guatemalans into the streets next week to protest efforts to derail his presidency before he can take office, he said Friday in an interview with The Associated Press. It would be Arévalo’s first such request since winning the election Aug. 20. Since his landslide victory, the attorney general’s office has continued pursuing multiple investigations related to the registration of Arévalo’s Seed Movement party, and alleged fraud in the election. International observers have said that is not supported by evidence. Arévalo said he has tried his own legal maneuvers to stop those who want to keep him from power, but now it’s necessary for the people to come out to the streets to support him. Arévalo, a progressive lawmaker and academic, shocked Guatemala by making it into an Aug. 20 presidential runoff in which he beat former first lady Sandra Torres by more than 20 points.

Ukraine’s Crimea attacks seen as key to counter-offensive against Russia (BBC) This week saw spectacular Ukrainian attacks on the Crimean Peninsula, hitting Russian warships and missiles. Estimates of the damage done ran into billions of pounds and raised the question: is Ukraine getting ready to retake Crimea, which Russia annexed in 2014? Crimea is a Russian fortress, so it is important not to get carried away. The Ukrainian Defense Ministry estimates that some 32,000 Russian troops were stationed in Crimea ahead of Russia’s February 2022 invasion. Russian nuclear weapons are reportedly deployed there as well. “[Ukraine’s] strategy has two main goals,” says Oleksandr Musiienko, from Kyiv’s Centre for Military and Legal Studies. “To establish dominance in the north-western Black Sea and to weaken Russian logistical opportunities for their defence lines in the south, near Tokmak and Melitopol.” In other words, operations in Crimea go hand-in-glove with Ukraine’s counter-offensive in the south.

Three Neighbors of Ukraine Ban Its Grain as E.U. Restrictions Expire (NYT) Hours after the European Union ended a temporary ban on imports of Ukrainian grain and other products to five member nations, three of them—Poland, Hungary and Slovakia—defied the bloc and said they would continue to bar Ukrainian grain from being sold within their borders. As Ukraine, one of the world’s largest grain exporters, has struggled to ship its grain because of Russia’s invasion, the European Union has opened up to tariff-free food imports from the country, a move that had the unintended consequence of undercutting prices and hurting farmers in several countries in the east of the European Union. As part of a deal meant to protect those countries, the bloc allowed some grain to transit through them, but prohibited domestic sales. Brussels’ decision to let that deal expire at midnight on Friday revived an issue that has threatened European Union unity on support for Ukraine. The Hungarian agriculture minister, Istvan Nagy, announced an extended ban that would include more products in a Facebook post early Saturday morning, saying that “we will protect the interests of the farmers.” On Friday, Poland’s president ordered that the ban be kept in place and Slovakia’s ministry of agriculture also announced a continuation of the ban, underlining that it didn’t apply to transit through the country.

Afghan Taliban Detain 18, Including American, on Charges of Preaching Christianity (VOA) Afghanistan’s Taliban have detained 18 staffers, including an American, from a nonprofit group for allegedly preaching Christianity. The Afghan-based International Assistance Mission (IAM) confirmed Friday that Taliban authorities had twice raided its office in central Ghor province this month and taken away the staff. They were taken into custody on charges of “propagating and promoting Christianity” in Afghanistan, a spokesman said. The IAM says on its website that the nonprofit group has been working in Afghanistan only to improve lives and build local health, community development and education capacity. “We are a partnership between the people of Afghanistan and international Christian volunteers, and we have been working together since 1966.”

U.S. and China Expand Global Spy Operations (NYT) As China’s spy balloon drifted across the continental United States in February, American intelligence agencies learned that President Xi Jinping of China had become enraged with senior Chinese military generals. Mr. Xi was not opposed to risky spying operations against the United States, but American intelligence agencies concluded that the People’s Liberation Army had kept Mr. Xi in the dark until the balloon was over the United States. When Mr. Xi learned of the balloon’s trajectory and realized it was derailing planned talks with Secretary of State Antony J. Blinken, he berated senior generals for failing to tell him that the balloon had gone astray, according to American officials briefed on the intelligence. The episode threw a spotlight on the expanding and highly secretive spy-versus-spy contest between the United States and China. The balloon crisis, a small part of a much larger Chinese espionage effort, reflects a brazen new aggressiveness by Beijing in gathering intelligence on the United States as well as Washington’s growing capabilities to collect its own information on China. The C.I.A. and the Pentagon’s Defense Intelligence Agency have set up new centers focused on spying on China. U.S. officials have honed their capabilities to intercept electronic communications, including using spy planes off China’s coast. The spy conflict with China is even more expansive than the one that played out between the Americans and the Soviets during the Cold War, said Christopher A. Wray, the F.B.I. director.

Villagers survived Morocco’s earthquake but lost nearly everything else (Washington Post) By all accounts, life in this village in Morocco’s Atlas Mountains was simple and good, even if it was rarely easy. Families had lived for generations in the small cluster of houses surrounded by olive and nut trees, which generated a third of the village’s income. Money from sons and daughters who grew up and moved to cities provided the rest. When a 6.8-magnitude earthquake shook the region on Sept. 8, Tiniskt was decimated in a matter of seconds. More than 50 of its 330 residents died—there was no time to wash and bury them properly. Everyone knew each of the dead. But the survivors have each other. They have spent the past week in blue, government-provided tents. On a recent morning, women ladled out milk porridge from communal pots for breakfast. Men parceled out equal portions of donated goods for each family. Boys played soccer in the dirt. Toddlers nestled into adults’ laps—it didn’t matter whose. On Thursday, Morocco’s King Mohammed VI announced an aid package to help people rebuild their homes. The villagers in Tiniskt—used to relying on each other—weren’t waiting around. A local association affixed solar lights to wooden poles to illuminate the central road. A young man collected plastic to construct a shower. Starting over was a daunting task, one man said. But it their only choice.

Adventure tourism (NYT) In 2001, a British man named Tom Morgan decided to host an extreme car race. It would start in Britain and end in what he thought was the world’s most difficult destination for most people to reach: Ulaanbaatar, Mongolia, more than 5,500 miles away. He called it the Mongol Rally. Participants had to drive the worst car they could find, avoid any planning and have as much fun as possible. Only six cars raced the first year. But interest grew as people began to talk about the rally online. “It’s gone ballistic,” Morgan said. More than 2,000 teams are on the wait-list to join the next Mongol Rally. The growing popularity of the race is one example of interest in trips to remote destinations. Adventure travel companies and insurance providers are reporting record sales this year. Companies say their clients are skipping Bali or Santorini in favor of destinations with less tourism infrastructure. The number of visitors to Antarctica has more than tripled in the last decade. Nepal granted a record number of permits to climb Mount Everest this year. And car rental companies in Mongolia sold out of SUVs this summer.

#headlines #news

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freewayinsurance · 2 years ago

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What Happened to the VW Bus? Is It Coming Back?

Actually, nothing happened to the VW bus. It just became less popular, temporarily, in the United States. And yes, it is coming back in a big way!

After the 1970s, the U.S. shut down VW bus manufacturing since the popular van was no longer was able to meet new safety and emissions standards. Production continued in Brazil, however, until 2014, when Brazil enacted new standards that the current model of the bus couldn’t meet. When that happened, the German production factory shut down its production after 63 years – the longest running time of any vehicle ever.

Now, many people are excited to learn the Volkswagen Bus is coming back next year, in 2024 – as the ID. Buzz (yes, that is its name!). It’s electric, eclectic and brings back a hint of the hippie movement psychedelic nostalgia with its neon colors: tangerine, lime, grape and more. Volkswagen is hoping to once again earn the respect and admiration of a new generation of car buyers.

One reason the VW bus became obsolete was its failing safety measures. No matter what you choose to drive, being safely prepared for the road by purchasing affordable car insurance will ensure your favorite vehicle never goes out of style.

The Peculiar History of the VW Bus

Although many people in the U.S. think of the iconic Volkswagen bus as the original hippie van from the 1960s, it has a different association in Europe, where it was born in Germany in the 1940s. Colloquially called the VW Bus in America and the VW Camper in the UK, the Volkswagen bus was modeled after the German Plattenwagen, a vehicle originally made to carry car parts. Dutch businessman, race car driver, winemaker and Olympian Ben Pon, always looking for something new and already selling the hugely popular VW Beetle in the United States, saw the Plattenwagen during a tour of the Volkswagen plant in West Germany one day and the lightbulb went off.

The Beetle paved the way for what was known then as the VW Transporter, later called the Volkswagen Microbus and then, in later years, the Bus. In the 1950s when the Transporter hit the market, buyers could choose from 8 different models, all designed to answer a specific need. Today, there are more than 15 variations of the Transporter (or T models) on the market.

For example, the Kombi VW bus featured removable rear seats so consumers could use the van to carry cargo (and people). A variety of side windows options also made an appearance during these days, with a low-end version offering 11-15 windows spaced around the van and high-end versions offering 23-window VW buses. Early models carried a hard to clean split front windshield, earning it one of many nicknames, “the Splitty.” Volkswagen did away with this unpopular feature, creating a solid front windshield.

In Europe, families and friends used the popular bus for camping trips, as did Americans, who also plastered peace signs all over it and drove it to see Jerry Garcia and the Grateful Dead. Europeans turned it into an ambulance, and everyone used its large interior for deliveries and carting stuff around.

In the 1960s, things began to turn around in the U.S. market when people became more concerned with vehicle safety and emissions – and something known as the chicken tax.

Chicken Tax

The Chicken War started when American farmers adopted poultry factory farming practices in the 1950s. Soon, chicken was being exported to Europe in mind-boggling numbers – which didn’t sit well with German farmers. Feathers flew and, as a result, high tariffs were implemented on imported chicken in Europe.

In America, the United Auto Workers were threatening a strike over the importing of the popular Volkswagen Type 2 pickup truck.

In response to both of the above, President Johnson imposed a 25% tax on imported light trucks. Called the Chicken Tax, it’s still in effect today. The effect on the Volkswagen is, in order to avoid the Chicken Tax, the vehicle cannot be sold as a truck or any kind of commercial vehicle.

Today’s Volkswagen Bus

Today, three different iterations of the VW bus are on the production line at a plant in Hanover, Germany. The model year T6 continues to be built with a van platform but is ceasing production with the new ID. Buzz. This is its last year. The T7 is a medium-sized Transporter with a large cargo area marketed as a plug-in hybrid. And the newest member of this family of unconventional members is the Buzz, due in the U.S. in 2024.

In Europe, the electric Buzz rolled into the market in 2022 and found new categories to master, including as a police car, a school bus, a postal truck and much more. But in America, the Buzz will never climb to the exalted ranks of a service vehicle. The chicken tax took care of that. It will always be a passenger van on these shores.

The Buzz About the Buzz

Let’s talk specifics about this new van that’s supposed to bring us all back to the days of concerts, tie-dye and peace signs. Of course, it is electric. But what other changes will we see?

Appearance: Some people think the new Buzz looks similar to the old Scooby-Doo van. Others think it looks like what might happen if a modern minivan had a baby with a sleek sports car. It certainly no longer has the goofy smile of the old VW Bus. Some people say it looks like an angry cousin.

Mechanics: It’s no longer necessary to carry around the “How to Fix Your Volkswagen for the Complete Idiot” and 3 wrenches. The downside is that a paper clip and a rubber band won’t fix the rear engine until you can get it to a shop. And, gasp, it comes in automatic transmission, too. Staying on top of maintenance will get you further.

Noise and Driving: If you’ve ever driven or ridden in an older VW Microbus, you already know how noisy it was, with bone-jarring shakes and rattles. It may – or may not – make it up that steep hill in the mountains of Colorado. Perhaps try reverse to make it up? Today’s version will have up to 201 horsepower (the original had an HP of two digits). It’s supposed to be much easier to maneuver. You’ve got to wonder if they took out all the fun!

Smart Car: You probably won’t consider the new Buzz as you did its distant little brother or sister. In the 60s, the bus was considered a valuable and friendly member of the family. The Buzz is more like the rather stern computer Hal in “2001: A Space Odyssey” (except for the part where Hal goes crazy and murders the crew). That won’t happen with Buzz, but it may stop you from switching lanes without signaling or flashing colors at you if there’s an obstruction in the road.

Overall, VW is banking on the new trend for electrical vehicles to help it become the world player it once was with the Beetle and the original VW bus in decades past. And although it may cost quite a bit more than the original ($1,800 vs $40,000), there are still fans clamoring to get a piece of yesterday for today.

Protect Your Vehicle Investment with Freeway Insurance

Whether you choose to drive a new electric VW Buzz or you are thrilled to get your hands on the iconic 60s version, having the right auto insurance can help you protect your ride and yourself. At Freeway Insurance, we can find affordable insurance that meets your budget and your needs. To get started, get a quick online quote, give us a call at (800) 777-5620 or stop by one of our convenient locations.

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jayanthitbrc · 6 hours ago

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Global Automotive Electronic Controller Market Analysis 2024: Size Forecast and Growth Prospects

The automotive electronic controller global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Automotive Electronic Controller Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The automotive electronic controller market size has grown rapidly in recent years. It will grow from $55.63 billion in 2023 to $61.41 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to increasing complexity of automotive systems, stringent emission standards, fuel efficiency and emission control, consumer demand for infotainment and connectivity, government regulations on vehicle safety..

The automotive electronic controller market size is expected to see strong growth in the next few years. It will grow to $85.97 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to rise in electric and autonomous vehicles, global emphasis on connectivity and telematics, evolution of in-vehicle entertainment systems, regulatory push for autonomous driving, focus on cybersecurity in connected vehicles.. Major trends in the forecast period include adoption of over-the-air (ota) software updates, shift towards open-source software platforms, integration of lidar and radar sensor control, focus on edge computing for real-time processing, development of energy-efficient electronic control units (ecus)..

Order your report now for swift delivery @ https://www.thebusinessresearchcompany.com/report/automotive-electronic-controller-global-market-report

Scope Of Automotive Electronic Controller Market The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Automotive Electronic Controller Market Overview

Market Drivers - The growing adoption of electric vehicles is expected to propel the growth of the automotive electronic controller market going forward. Electric vehicles (EVs) are vehicles powered by electricity stored in batteries or other energy storage systems, eliminating the need for internal combustion engines. Automotive electronic controllers in electric vehicles (EVs) manage power distribution and optimize battery performance, enhancing overall efficiency and range while enabling advanced features like regenerative braking. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 compared to 3 million in 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the growing adoption of electric vehicles is driving the growth of the automotive electronic controller market.

Market Trends - Major companies operating in the automotive electronic controller market are increasing their focus on developing a high-performance electronic control unit (ECU) to maximize their profits in the market. A high-performance electronic control unit (ECU) is a specialized computer that efficiently manages and optimizes various functions in vehicles or industrial systems, delivering exceptional speed and precision in real-time operations. For instance, in April 2023, TTTech Auto AG, an Austria-based provider of car safety solutions, launched the N4 Network Controller, a high-performance electronic control unit (ECU) with advanced networking capabilities. The N4 electronic control unit is equipped with advanced networking features that enable it to support the latest automotive communication protocols, including Ethernet, CAN FD (controller area network flexible data rate), and FlexRay. This electronic control unit (ECU) is designed to meet the increasing demand for high-bandwidth communication in modern vehicles, which require more advanced driver assistance systems, infotainment, and other features.

The automotive electronic controller market covered in this report is segmented –

1) By Product Type: Engine Control Units (ECUs), Transmission Control Units (TCUs), Body Control Modules (BCMs), Electronic Stability Control (ESC) Systems, Electronic Brake Systems (EBS), Other Products 2) By Vehicle Type: Light-Duty Vehicles, Heavy Commercial Vehicles, Construction And Mining Equipment, Agricultural Tractors 3) By Propulsion Type: Battery Electric Vehicles (BEVs), Hybrid Vehicles, Internal Combustion Engines Vehicles 4) By Application: Advanced Driver Assistance Systems And Safety System, Body Control And Comfort System, Infotainment And Communication System, Powertrain System

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Regional Insights - Asia-Pacific was the largest region in the automotive electronic controller market in 2023. The regions covered in the automotive electronic controller market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Major companies operating in the automotive electronic controller market report are Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Panasonic Corporation, DENSO Corporation, Continental AG, ZF Friedrichshafen AG, Hyundai Mobis Co. Ltd, Toshiba Electronic Devices & Storage Corporation, Lear Corporation, Texas Instruments Incorporated, Nidec Motors and Actuators Inc., TE Connectivity Ltd., STMicroelectronics N.V., BorgWarner Inc., Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics Corporation, Amphenol Corporation, Analog Devices Inc., ON Semiconductor Corporation, Microchip Technology Inc., Omron Corporation, Vishay Intertechnology Inc., Sanken Electric Co. Ltd., Diodes Incorporated, Melexis N.V., Magneti Marelli S.p.A., Pektron Group Limited, HGM Automotive Electronics Inc.

Table of Contents 1. Executive Summary 2. Automotive Electronic Controller Market Report Structure 3. Automotive Electronic Controller Market Trends And Strategies 4. Automotive Electronic Controller Market – Macro Economic Scenario 5. Automotive Electronic Controller Market Size And Growth ….. 27. Automotive Electronic Controller Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

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energyandpowertrends · 3 days ago

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PEMFC Market: Enhancing Efficiency in Transportation and Stationary Applications

The Proton Exchange Membrane Fuel Cell (PEMFC) Market size was valued at USD 4.52 billion in 2023 and is expected to grow to USD 20.36 billion by 2032 with a growing CAGR of 18.2% over the forecast period of 2024–2032.

Market Overview

Proton Exchange Membrane Fuel Cells convert hydrogen fuel into electricity through an electrochemical reaction, with water as the only byproduct. This technology has emerged as a key player in decarbonizing various sectors, including transportation, power generation, and portable applications. As global efforts intensify to reduce carbon emissions and combat climate change, the demand for PEMFC technology is expected to surge.

Key Market Segmentation

The PEMFC market is segmented by type, material, application, and region, providing insights into the market dynamics.

By Type

High Temperature PEMFCs: These fuel cells operate at elevated temperatures, allowing for faster reactions and improved durability. High temperature PEMFCs are particularly beneficial for applications requiring high efficiency and quick start-up times.

Low Temperature PEMFCs: The most common type, low temperature PEMFCs, are widely used in automotive and portable applications due to their lower operating temperature and suitability for various environmental conditions.

By Material

Membrane Electrode Assembly (MEA): This critical component of PEMFCs consists of the proton exchange membrane, catalyst layers, and gas diffusion layers. Innovations in MEA materials are crucial for enhancing the performance and reducing the cost of PEMFC systems.

Hardware: This segment includes the structural components required to assemble and operate fuel cells, such as bipolar plates, end plates, and gaskets.

Others: This category encompasses additional materials and components that contribute to the overall functionality of PEMFCs.

By Application

Automotive: The automotive industry is witnessing a significant shift towards fuel cell electric vehicles (FCEVs), supported by stringent emission regulations and consumer demand for sustainable transportation solutions. Major automotive manufacturers are investing in PEMFC technology to develop cleaner vehicles.

Portable: Portable PEMFC systems are gaining traction in applications such as consumer electronics, military equipment, and backup power supplies, offering lightweight and efficient power solutions.

Stationary: In stationary applications, PEMFCs are being deployed for backup power and combined heat and power (CHP) systems, catering to residential, commercial, and industrial energy needs.

Others: This segment includes niche applications across various industries that utilize PEMFC technology.

Regional Analysis

North America: The North American market is expected to grow significantly, driven by supportive government policies, increasing investments in hydrogen infrastructure, and the presence of major automotive manufacturers focusing on fuel cell technology.

Europe: Europe leads the PEMFC market, with countries such as Germany, France, and the Netherlands actively promoting hydrogen as a clean energy source. The European Union’s commitment to achieving carbon neutrality by 2050 further accelerates the adoption of PEMFC technology.

Asia-Pacific: The Asia-Pacific region is poised for robust growth, primarily due to rapid industrialization, increasing energy demand, and government initiatives promoting clean energy solutions. Countries like Japan and South Korea are at the forefront of PEMFC research and development.

Latin America and Middle East & Africa: These regions are gradually adopting PEMFC technology, driven by the need for energy diversification and environmental sustainability.

KEY PLAYERS The Major Players are Ballard Power Systems (Canada), Plug Power (United States), Hydrogenics (Canada), Nuvera Fuel Cells, LLC (United States), Horizon Fuel Cell Technologies (China), Nedstack Fuel Cell Technology (Netherlands), ITM Power (United Kingdom), AVL (Austria), ElringKlinger (Germany), Intelligent Energy (United Kingdom), W.L. Gore & Associates (United States), Pragma Industries (France), Umicore (Belgium)

Read Complete Report Details of Proton Exchange Membrane Fuel Cell (PEMFC) Market: https://www.snsinsider.com/reports/proton-exchange-membrane-fuel-cell-market-3145

Conclusion

The Proton Exchange Membrane Fuel Cell (PEMFC) market is set for substantial growth between 2024 and 2032, fueled by technological advancements, increasing demand for clean energy, and supportive regulatory frameworks. As industries and governments worldwide prioritize sustainability, PEMFCs are likely to play a crucial role in achieving energy transition goals. Market players are encouraged to invest in R&D and partnerships to capitalize on emerging opportunities within this dynamic market landscape.

About Us:

SNS Insider is a global leader in market research and consulting, shaping the future of the industry. Our mission is to empower clients with the insights they need to thrive in dynamic environments. Utilizing advanced methodologies such as surveys, video interviews, and focus groups, we provide up-to-date, accurate market intelligence and consumer insights, ensuring you make confident, informed decisions.

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timesofinnovation · 3 days ago

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Donald Trump’s return to the White House after winning the US presidential election on November 5, 2024, has raised significant questions about the future of American business. Several key issues—including tariff proposals, energy policies, and regulatory changes in various sectors—will influence the business landscape in the United States. Understanding these implications can help professionals and investors strategically navigate what lies ahead. #The Role of Elon Musk One notable figure expected to play a pivotal role is Tesla CEO Elon Musk. Trump has indicated he would appoint Musk to lead a new government efficiency commission. Musk argues that up to $2 trillion could be trimmed from the federal budget of $6.75 trillion. How Musk's approach to efficiency plays out could redefine regulatory landscapes. For instance, Musk has often criticized federal oversight, which could lead to fewer regulations in sectors such as autonomous vehicles or aerospace. However, balancing Musk’s initiatives with Trump’s stance on environmental regulations will be a challenging task, as both leaders have differing views on policies like California's push for electric vehicles. #Tariff Proposals and Their Impact Tariffs are set to significantly reshape the American economy under Trump's administration. The former president has suggested implementing a blanket 10% tariff on US imports and an aggressive 60% tariff on Chinese goods. According to the Tax Foundation, such measures could add $524 billion to the tax bill annually, reduce GDP by at least 0.8%, and lead to a loss of 684,000 jobs in the retail sector alone. A study by the National Retail Federation estimates that consumer spending power could decline by up to $78 billion each year, particularly affecting sectors like apparel and electronics. Retailers may respond by shifting operations to countries like India and Vietnam, ramping up manufacturing outside of China. In this scenario, while companies like Kroger may benefit due to limited sourcing from China, wider impacts across the supply chain are inevitable. #Energy Policies: A Push for Oil and Gas Trump has plans to bolster the oil and gas industry, proposing to lift restrictions on liquefied natural gas export permits and expand drilling and pipeline projects. This pivot may shift the focus from renewable projects prompted by the Inflation Reduction Act, which some in the oil industry have found beneficial for carbon capture initiatives. Regarding international relations, how Trump manages sanctions against rival energy exporters like Russia and Iran could have significant ripple effects on the global oil market. Analysts predict that ramping up pressure on Iran could lead to substantial reductions in Iranian crude exports, affecting not just prices at the pump, but also the dynamics of international oil trading. #Labor Relations: The Future of Unions Labor unions made significant gains during Biden's presidency, but under Trump, the landscape may shift again. While Trump previously appealed to blue-collar workers, his administration could foster policies that may diminish the bargaining power gained by unions. The National Labor Relations Board's leadership may see a change that could stall or reverse recent union organizing successes seen in companies like Starbucks and Amazon. Conversely, strong union support among specific demographics could compel Trump to adjust his approach. Ultimately, the path forward for organized labor remains uncertain, as old dynamics are weighed against new challenges and opportunities. #Financial Sector Changes The financial sector is likely to experience a period of relative stability as Trump aims to install industry-friendly Republicans to key regulatory positions. Major banks like JPMorgan and Goldman Sachs could benefit from a reduction in capital requirements and eased regulations. However, these advantages might be short-lived if Trump's fiscal policies, combined with proposed tariffs,

worsen the national deficit and increase inflationary pressures, potentially leading to higher interest rates. #Antitrust and Technological Regulation Trump's administration is expected to adopt a more permissive stance on mergers and competition issues. It might reverse the Department of Justice's push to dismantle major tech companies like Google, leaning towards settlements instead. Stakeholders in Silicon Valley, aligned with Trump, advocate for reduced regulation of emerging technologies, which could spur innovation but also raises concerns about consumer protections and competitive practices. #Implications for Media Trump's renewed administration could impose threats to journalistic freedom. Calls for the FCC to revoke broadcast licenses of major networks like ABC and CBS signal potential clashes over media regulations. If Trump succeeds in consolidating regulatory authority under the executive branch, it may restrict press freedoms and impact how media outlets operate. #Pharmaceuticals and Healthcare Recent comments from Trump about allowing Robert F. Kennedy Jr. to shape healthcare policy, particularly regarding vaccines, have raised alarms in the pharmaceutical industry. This potential shift could impact public health strategies and the approval process for new drugs, creating an uncertain environment for biotechnology firms and public health advocates alike. #Final Thoughts The business implications of Trump’s second term will be far-reaching and complex. While the possibility of deregulation and reduced corporate tax burdens may attract some sectors, the broader economic landscape could face significant hurdles, including heightened tariffs, geopolitical tensions, and financial instability. As these developments unfold, stakeholders across industries must stay informed and agile in adapting to the changing dynamics of governance and market forces.

#Fashion #AbercrombieRetailTrendsConsumerBehaviorStockMarketBusinessSuccess #AdobeAIVideoProductionInnovationsSoundEffects #BirkenstockFootCareBeautyBusinessWellnessTrendsLifestyleBrands #tradepolicy

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stanleyhuds · 6 days ago

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Low Speed Electric Vehicle Market Report 2025 | Share, Trends, and Forecast by 2033

IMARC Group’s report titled “Low Speed Electric Vehicle Market Report by Product (Two-wheelers, Three-wheelers, Four-wheelers), Vehicle Type (Passenger LSEV, Heavy-duty LSEV, Utility LSEV, Off-road LSEV), Voltage (24V, 36V, 48V, 60V, 72V), Battery (Lithium-Ion Battery, Lead-Acid Battery, and Others), End User (Golf Courses, Tourist Destinations, Hotels and Resorts, Airports, Residential and Commercial Premises, and Others), and Region 2025-2033”. The global low speed electric vehicle market size reached USD 5.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 16.2 Billion by 2033, exhibiting a growth rate (CAGR) of 11.44% during 2025-2033.

Factors Affecting the Growth of the Low Speed Electric Vehicle Industry:

● Environmental Regulations:

The market for low-speed electric vehicles (LSEVs) is growing due to stricter environmental regulations. Governments worldwide are pushing to cut carbon emissions and fight climate change. They are enforcing tougher emission standards, offering incentives for electric vehicles, and penalizing high-emission vehicles. LSEVs, being zero-emission, fit perfectly with these rules. As cities and countries strive to meet their environmental targets, the demand for LSEVs, which have no tailpipe emissions, is set to rise.

● Cost Savings:

Cost is key in adopting LSEVs. They are cheaper than traditional EVs, making them more accessible. LSEVs also have lower running costs, such as fuel and maintenance. These savings come from electric drivetrains and simpler designs. Thus, LSEVs are a practical, economical choice for consumers. This cost-effectiveness boosts their appeal and market growth.

● Urbanization and Traffic Congestion:

Cities are growing and traffic is worsening, increasing the demand for LSEVs. Traditional vehicles worsen jams and parking issues. LSEVs, being small and slow, are perfect for short trips and city commuting. They help navigate crowded streets and find parking. Their design suits last-mile needs and short travel, appealing to city residents.

Grab a sample PDF of this report: https://www.imarcgroup.com/low-speed-electric-vehicle-market/requestsample

Leading Companies Operating in the Global Low Speed Electric Vehicle Industry:

AGT Electric Cars

Bintelli Electric Vehicles

Bradshaw Electric Vehicles

HDK Electric Vehicle

Hero Electric Vehicles Pvt Ltd

Polaris Inc.

Speedways Electric

Terra Motors Corporation

Textron Inc.

Low Speed Electric Vehicle Market Report Segmentation:

By Product:

Two-wheelers

Three-wheelers

Four-wheelers

On the basis of the product, the market has been divided into two-wheelers, three-wheelers, and four-wheelers.

By Vehicle Type:

Passenger LSEV

Heavy-duty LSEV

Utility LSEV

Off-road LSEV

Off-road LSEV holds the biggest market share as it is designed for a variety of applications, including agriculture, recreation, and industrial use.

By Voltage:

24V

36V

48V

60V

72V

Based on the voltage, the market has been segregated into 24V, 36V, 48V, 60V, and 72V.

By Battery:

Lithium-Ion Battery

Lead-Acid Battery

Others

On the basis of the battery, the market has been classified into lithium-ion battery, lead-acid battery, and others. By End User:

Golf Courses

Tourist Destinations

Hotels and Resorts

Airports

Residential and Commercial Premises

Others

Golf courses exhibit a clear dominance in the market due to the rising need to transport golfers and their equipment across the course.

Regional Insights:

North America (United States, Canada)

Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

Latin America (Brazil, Mexico, Others)

Middle East and Africa

North America enjoys a leading position in the low speed electric vehicle market on account of the increasing demand for recreational purposes.

Global Low Speed Electric Vehicle Market Trends:

Countries are offering subsidies, tax breaks, and other financial incentives to boost electric vehicle (EV) adoption. These incentives lower the initial cost of light-duty electric vehicles (LSEVs), making them more appealing. Moreover, some authorities provide perks like carpool lane access, reduced fees, and regulatory exemptions. These measures cut ownership costs and boost confidence.

Additionally, advancements in battery technology and electric drivetrains are enhancing LSEV efficiency, reliability, and affordability.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

IMARC Group 134 N 4th St. Brooklyn, NY 11249, USA Email: [email protected] Tel No:(D) +91 120 433 0800 United States: +1–631–791–1145

#Low Speed Electric Vehicle Market

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global-research-report · 7 days ago

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Wires and Cables: Driving Innovation in Power, Telecom, and Beyond

The global wires and cables market was valued at approximately USD 211.62 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2030. Several key factors are contributing to this growth, including the increasing rates of urbanization and the rising demand for infrastructure development around the world. These trends are particularly influencing the power and energy requirements across various sectors, including commercial, industrial, and residential. The need for more advanced power transmission and distribution systems, alongside the development of smart grids, is driving substantial investments, further boosting market expansion. As a result, there is a notable increase in the adoption of new underground and submarine cables, essential for supporting modern grid infrastructure.

A smart grid is an advanced electrical grid that incorporates automation, control systems, and cutting-edge technologies to enhance the efficiency and reliability of electricity transmission. It is a critical component of the global energy infrastructure, as the functioning of nearly all modern systems and economies depends on the uninterrupted and efficient delivery of electrical power. The ongoing growth of the global population is contributing to a greater demand for electricity, further stressing the need for innovations in grid technology to ensure a steady supply.

Technological advancements in smart grids are also essential for mitigating the impact of adverse weather events such as storms, which can cause power outages. Smart grids are designed to reduce the frequency and duration of these outages and enable faster recovery of service when disruptions occur. Furthermore, smart grids facilitate the generation and distribution of renewable energy, promote the use of clean energy sources, and help reduce carbon emissions. They also support the integration of smart devices and smart homes, and play a key role in the adoption of electric vehicles by enabling efficient charging infrastructure. The continued development of smart grids, therefore, represents a critical driver for the expansion of the wires and cables market, as these technologies require advanced cabling systems for their operation and reliability.

Regional Insights

North America:

The wires and cables market in North America is experiencing strong growth, driven by several key factors. Notably, the ongoing modernization of power grids and the increased investment in renewable energy sources are central to the region’s demand for advanced cables. Additionally, the rapid expansion of data centers, which require high-capacity and high-performance cabling, is contributing to market growth. Infrastructure upgrades and the rising adoption of electric vehicles (EVs) are further driving the need for specialty cables, particularly for charging infrastructure and power distribution.

North America’s focus on smart technologies and the Internet of Things (IoT) also plays a significant role in the demand for fiber-optic cables, as these technologies rely on high-speed, low-latency communication networks. As the region continues to invest in digital and energy infrastructure, the need for robust and efficient wiring and cabling solutions is expected to grow steadily.

United States:

In the United States, the wires and cables market is significantly influenced by government and private sector investments aimed at upgrading energy infrastructure and promoting sustainability. Key drivers include a shift toward energy-efficient systems, as well as the rapid expansion of renewable power generation. Government initiatives to accelerate electric vehicle (EV) adoption, such as the development of EV charging networks, are also boosting the demand for specialized cables to support these systems.

Another major factor contributing to the growth of the U.S. market is the rollout of 5G networks. As 5G technology requires high-speed, high-bandwidth data transmission, there is a significant rise in demand for fiber-optic cables to enable these capabilities. These combined factors are expected to continue driving the market in the U.S., with a focus on both energy infrastructure and communication networks.

Asia Pacific:

The Asia Pacific region holds a dominant share of the global wires and cables market, accounting for 37.6% of the market’s revenue in 2023. This growth is largely attributed to the rapid industrialization, urbanization, and large-scale infrastructure development taking place in countries like China and India. As these nations expand their manufacturing capabilities and urban infrastructure, there is a growing demand for both power cables and communication cables.

Additionally, the increasing focus on renewable energy projects and government initiatives aimed at developing smart cities are fueling further demand for advanced cabling solutions. The shift toward smart grids, along with the expansion of renewable energy sources such as solar and wind power, is a key driver of market growth in the region. The automotive and telecom industries in Asia Pacific are also contributing to market expansion, particularly with the growing production of electric vehicles (EVs) and the continued buildout of telecom infrastructure.

Europe:

In Europe, the wires and cables market is primarily driven by the region’s stringent environmental regulations and the push toward renewable energy and energy efficiency. Governments across Europe are implementing policies and regulations that promote the transition to greener energy sources, which in turn is driving demand for power cables, particularly in sectors like wind and solar energy.

The automotive sector is another significant driver, particularly with the growing production and adoption of electric vehicles (EVs), which require specialized charging infrastructure and power distribution systems. Countries like Germany, France, and the UK are making substantial investments in upgrading aging power infrastructure, developing smart grids, and expanding data centers. These efforts are further fueling the demand for high-performance cables, especially those designed for high-speed data transmission and energy-efficient power distribution.

Browse through Grand View Research's Category HVAC & Construction Industry Research Reports.

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The global electric power distribution automation systems market size was valued at USD 26.1 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.02 % from 2024 to 2030.

Key Wires and Cables Company Insights

The global wires and cables market is highly competitive and concentrated, with the top three companies—Belden Inc., Nexans, and Fujikura Ltd.—holding a significant portion of the market share in 2023. These industry leaders dominate the landscape, owing to their established reputations, extensive product portfolios, and innovation-driven strategies. To maintain or strengthen their market positions, these companies are actively pursuing various strategic initiatives designed to expand their customer base and enhance their competitive edge.

Belden Inc.

Belden Inc. is a key player in the wires and cables industry, known for its high-quality products and solutions across a broad range of sectors, including industrial, commercial, and residential markets. The company offers a diverse range of products such as networking cables, fiber-optic cables, and industrial automation cables, making it a critical supplier for infrastructure and communication networks. Belden's focus on technological innovation and product development allows it to meet the evolving needs of customers in an increasingly digital world. As part of its growth strategy, Belden is also exploring partnerships and acquisitions to enhance its product offerings and extend its market reach, particularly in the fields of industrial connectivity and smart grid solutions.

Nexans

Nexans, a global leader in the wires and cables market, has a strong foothold in various industries, including energy, telecommunications, and construction. The company is widely recognized for its innovative solutions in power cables, fiber-optic cables, and low-voltage cables. Nexans' commitment to sustainability and energy efficiency positions it as a key player in the growing renewable energy sector, where demand for cables for solar, wind, and grid infrastructure is rising rapidly. The company has been investing in new technologies and expanding its production capacity, particularly in emerging markets like Asia Pacific, to support the global transition to smarter and more sustainable energy systems.

Fujikura Ltd.

Fujikura Ltd., based in Japan, is a major player in the cables and fiber-optic sector, specializing in the manufacturing of high-performance cables for telecommunications, automotive, and energy markets. The company’s strength lies in its advanced technological expertise, particularly in fiber-optic cables, which are critical for high-speed data transmission in both telecom and data center applications. Fujikura has been focusing on expanding its market presence through the development of next-generation cable technologies, which are essential to meet the rising demand for higher bandwidth and faster communication speeds.

Key Wires And Cables Companies:

The following are the leading companies in the wires and cables market. These companies collectively hold the largest market share and dictate industry trends.

Belden Inc.

Encore Wire Corporation

Finolex Cables.

Fujikura Ltd.

Furukawa Electric Co., Ltd.

KEI Industries Limited.

LEONI AG

LS Cable & System Ltd.

Nexans

NKT A/S

Prysmian S.p.A

Sumitomo Corporation

Southwire Company, LLC

Amphenol TPC.

American Wire Group

CommScope, Inc.

Shanghai Shenghua Cable (Group) Co., Ltd.

TE Connectivity

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#wires and cables market.

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