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Sunday, November 19, 2023

U.S. Subsidies Fuel Boom in Global Auto Trade - The Wall Street Journal

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Chinese-made cars await export at the port of Yantai, Shandong province. China’s auto exports were up 71% in the third quarter compared with average monthly exports in 2021.Photo: Cfoto/Zuma Press

SINGAPORE—Auto exports from Europe and Asia are surging as the U.S. and other countries lavish subsidies on electric vehicles and dealers replenish inventories that even now aren’t back to prepandemic levels. 

The boom in autos contrasts with broader

weakness in exports as the global economy slows. The trend offers a glimpse of how the West’s embrace of industrial policies aimed at stimulating domestic manufacturing and reducing the use of fossil fuels is causing wrinkles in patterns of world trade. 

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November 19, 2023 at 09:01PM
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U.S. Subsidies Fuel Boom in Global Auto Trade - The Wall Street Journal
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