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EV legislation sees more vehicles hit roads to battle cost of living

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In a pivotal step for environmental sustainability, the government announced fuel efficiency standards on Sunday, targeting cost-of-living benefits.

Despite lagging behind other countries, these standards aim to boost lower CO2 vehicle supply, especially EVs, with a goal of reducing CO2 emissions by 60% by 2029. Major car companies currently prioritise cleaner models for nations with strict CO2 targets, leaving Australia with less efficient options.

The proposed standards, effective from January 1, 2025, received broad support but faced mixed industry responses. While the EV lobby endorsed it, the dealer group expressed concerns about swift implementation.

The motor trades association sought a middle ground, emphasising EV technician training, and the car company representative body had reservations.

The delay in adoption is criticised, citing that 85% of global vehicle sales adhere to similar standards. It has been highlighted that there will no doubt be challenges for companies, especially with larger vehicles, foreseeing potential price increases. Despite hurdles, the author stresses the need to avoid becoming a dumping ground for inefficient vehicles.

 

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Gold plunges 5% in biggest drop since 2013

Gold prices plummet over 5%, raising global market concerns as investors react, says Chris Weston from Pepperstone.

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Gold prices plummet over 5%, raising global market concerns as investors react, says Chris Weston from Pepperstone.


Gold prices have crashed over 5% in a single day, sparking concerns across global markets and sending investors scrambling.

Chris Weston from Pepperstone breaks down the causes and implications.

#Gold #Markets #Investing #Commodities #GoldCrash #PreciousMetals #ASX #GlobalMarkets #Finance #Trading


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Trump and Xi set for high-stakes APEC showdown

Trump and Xi to meet at APEC, seeking to ease trade tensions and revive dialogue amid tariff threats.

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Trump and Xi to meet at APEC, seeking to ease trade tensions and revive dialogue amid tariff threats.


President Trump and President Xi Jinping will meet for the first time in six years at the APEC summit, aiming to ease trade tensions and revive dialogue amid tariff threats.

#Trump #XiJinping #APEC #Trade #China #USPolitics #Economy #Tariffs #AsiaPacific #GlobalSummit


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Trump to meet Xi at APEC amid trade tensions

Trump to meet Xi at APEC summit as trade tensions escalate and tariffs loom

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Trump to meet Xi at APEC summit as trade tensions escalate and tariffs loom

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In Short:
– Trump will meet Xi Jinping at the APEC summit in South Korea later this month amid trade tensions.
– China has reshuffled its trade team, appointing Li Yongjie as the new WTO representative.
President Donald Trump confirmed he will meet Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation summit later this month in South Korea.
It marks their first face-to-face encounter in six years amid ongoing trade tensions.Trump expressed hope about achieving a “fantastic deal,” despite escalating disputes. He is prepared to impose significant tariffs on Chinese imports if no agreement is reached. Current U.S. tariffs on Chinese goods average 55%, with a potential increase to 155% looming.

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Trump mentioned that he believes an excellent trade deal would benefit the U.S., China and the global economy. He acknowledged the importance of the negotiations, stating that China respects the U.S. but is always seeking advantages in trade.

China’s Trade Reshuffle

China has reshuffled its trade negotiation team. Li Chenggang has been removed from his position as the representative to the World Trade Organization, while retaining his role as vice minister of commerce. This change aligns with Beijing’s strategy to adjust its trade diplomacy amid tensions.

Li Yongjie has been appointed as the new WTO representative. This team transition comes after scrutiny from U.S. officials and reflects China’s commitment to recalibrating its approach within the ongoing trade discussions.

The upcoming APEC summit will gather leaders from 21 economies, representing a significant portion of global GDP. It serves as a pivotal platform for dialogue, despite the backdrop of intensified trade negotiations.


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