{"id":1565,"date":"2024-08-20T09:59:00","date_gmt":"2024-08-20T09:59:00","guid":{"rendered":"https:\/\/saddlebrown-scorpion-975628.hostingersite.com\/?p=1565"},"modified":"2026-04-23T10:44:51","modified_gmt":"2026-04-23T10:44:51","slug":"world-economy-2024-trade-tensions-and-strategic-confrontations-between-the-us-eu-and-china","status":"publish","type":"post","link":"https:\/\/ib-association.com\/uk\/world-economy-2024-trade-tensions-and-strategic-confrontations-between-the-us-eu-and-china\/","title":{"rendered":"\u201cWorld Economy 2024: Trade Tensions and Strategic Confrontations between the US, EU and China\u201d"},"content":{"rendered":"<p>In 2024, the global economy has undergone significant changes, especially in the context of<br>trade relations between the European Union (EU), the United States of America (US) and<br>China. The main developments include:<br>US-China trade relations:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tariff increases: In May 2024, President Joe Biden&#8217;s administration increased tariffs on<br>Chinese goods, including electric vehicles, solar panels, steel, and aluminum. Tariffs on<br>electric vehicles increased to 100%, on solar panels to 50%, and on steel and aluminum to<br>25%.<\/li>\n\n\n\n<li>China&#8217;s response: China retaliated by imposing its own tariffs on U.S. goods and restricting<br>exports of critical rare earths, which are key to electronics manufacturing.<br>EU-China relations:<\/li>\n\n\n\n<li>Tariffs on electric vehicles: In June 2024, the EU imposed tariffs on imports of Chinese<br>electric vehicles, which caused tensions between Brussels and Beijing.<\/li>\n\n\n\n<li>Subsidy investigations: In March 2025, the European Commission initiated an investigation<br>into the possible receipt of unfair government subsidies by the Chinese automaker BYD,<br>which could distort competition in the European market.<br>Economic indicators and forecasts:<\/li>\n\n\n\n<li>US trade deficit: In 2024, the US trade deficit with China amounted to $295.4 billion, up<br>5.8% from 2023. The deficit with the EU also increased by 12.9%, reaching $235.6 billion.<\/li>\n\n\n\n<li>EU economic growth: Real GDP growth in the EU is projected at 0.9% in 2024, with an<br>expected increase to 1.5% in 2025.<\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>In 2024, the global economy has undergone significant changes, especially in the context oftrade relations between the European Union (EU), the United States of America (US) andChina. The main developments include:US-China trade relations:<\/p>","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1565","post","type-post","status-publish","format-standard","hentry","category---en"],"_links":{"self":[{"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/posts\/1565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/comments?post=1565"}],"version-history":[{"count":1,"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/posts\/1565\/revisions"}],"predecessor-version":[{"id":1566,"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/posts\/1565\/revisions\/1566"}],"wp:attachment":[{"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/media?parent=1565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/categories?post=1565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ib-association.com\/uk\/wp-json\/wp\/v2\/tags?post=1565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}