Joe Biden on the China tariff: On China, he said he would not act immediately to remove the 25 % tariffs that Trump imposed on about half of China’s exports to the United States — or the Phase 1 agreement Trump inked with China that requires Beijing to purchase some $200 billion in additional U.S. goods and services during the period 2020 and 2021 — which China has fallen significantly behind on. “I’m not going to make any immediate moves, and the same applies to the tariffs,” he said. “I’m not going to prejudice my options.” He first wants to conduct a full review of the existing agreement with China and consult with our traditional allies in Asia and Europe, he said, “so we can develop a coherent strategy.” Source: New York Times
Some Cadillac dealers choose not to invest for EV future: About 150 Cadillac dealers are choosing to take buyouts from General Motors Co. rather than invest thousands to support electric vehicles, the Wall Street Journal reported Friday. Cadillac’s 880 U.S. dealers were told in September they needed to invest $200,000 to transition dealerships for coming electric vehicles. The dealer network had until Nov. 30 to make the decision if they wanted to take a buyout. About 17% of Cadillac dealers took the buyout offer, the Journal reported Friday citing anonymous sources. Cadillac, GM’s flagship electric brand, is aiming to sell more vehicles powered by electricity than by fossil fuels by the end of the decade. Source: The Detroit News
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