Trade barriers placed by the United States and European countries against Chinese electric vehicles (EVs) are counterproductive and should be removed to restore free trade, said Eric Maskin, a Nobel laureate in economics, in an interview with China Central Television (CCTV) that was aired Friday.
China has been the global leader in EV for nine consecutive years, with both production and sales of its new energy vehicles exceeding 9 million units in 2023.
Maskin attributed China's current leading position in EV production to its notion of developing new quality productive forces, which follows the trend of the times.
"I think it makes a lot of sense. The technology that was dominant in the 20th century is being replaced by the technology of the 21st century. And it makes a lot of sense for China to be out in front of that and putting its investment and its resources into this new technology. For example, I mentioned electric cars. A while ago, China has become a world leader in the production of electric cars, which I think makes a lot of sense. They've made wise investment to go in that direction, because the world is going to need those electric cars," Maskin said.
The United States announced on May 14 this year a sharp increase in its Section 301 tariffs on Chinese EVs from 25 percent to 100 percent.
The European Commission, the executive arm of the European Union, introduced provisional duties of up to 37.6 percent on Chinese EVs in early July.
Calling these moves counterproductive, Maskin called for the removal of the barriers and the restoration of free trade.
"From the standpoint of international trade and cooperation, I think placing barriers to that trade is counterproductive, so that makes me unhappy to see this interference. My hope is that the barriers will be removed and we will have a, we will restore free trade once again. Perhaps I'm being over optimistic here, but that I think would be the happiest outcome. In other words, I see the interference with free trade as temporary rather than permanent," he said.
Western trade barriers against Chinese EVs counterproductive: Nobel laureate
Western trade barriers against Chinese EVs counterproductive: Nobel laureate
A high-level mediation team from the African Union (AU) Commission has been dispatched to Juba, capital of South Sudan, to try to ease the rising tensions between President Salva Kiir and First Vice President Riek Machar, and help resolve the current political crisis in the country.
Riek Machar and several senior officials have been detained since clashes erupted in January between the South Sudan People's Defense Forces and the opposition fighters.
Machar was accused of instigating violence in Nasir in the northern part of the country.
The mediation team says it plans to engage Machar, but that meeting is yet to take place.
The AU is urging South Sudanese political leaders to resolve the current disagreement through dialogue.
Machar heads the largest opposition group that has an armed wing in the country, known as SPLM/A-IO.
South Sudan's government says it's still investigating Machar for being allegedly involved in clashes between government troops and armed civilians affiliated to SPLM/A-IO in Nasir.
"The mandate of the RTGoNU (the Revitalized Transitional Government of National Unity) is simple; that we stop war, we form a revitalized government of national unity so that we return security, sustainable peace in the country," said Martin Elia Lomuro, South Sudan's Minister of Cabinet Affairs.
Meanwhile, Machar's party members are calling on president Kiir to order the release of their leader.
The group argues that the arrest of Machar means the 2018 peace deal which ended five years of violence in the country has partially collapsed.
The government reaffirms its commitment to the implementation of the 2018 peace deal.
It says Mr. Machar is in conflict with the law and that the implementation of the peace deal should not be used as cover to commit crime. However, until now, South Sudanese law enforcement agencies have not charged Machar with any offense in a court of law.
South Sudan, which became independent in 2011, signed a peace deal in 2018 that ended a civil war between forces loyal to Kiir and Machar. Nearly 400,000 people died in the civil war.
Relations between Kiir and Machar, who have dominated South Sudan's politics for decades, remain strained. The clashes and latest political tensions between the two leaders have unsettled many citizens and the international community.
AU dispatches Panel of Wise to address ongoing instability in South Sudan
