Tariffs Backfire as China Outmaneuvers Rivals with Global EV Investments

China is investing in EV factories, battery plants, and all sorts of other transition tech around the world. It is building EV factories and battery plants abroad to retaliate against a tariff push in the West that may prove to be just as counterproductive as sanctions on Russia. In June, the media reported that European governments were competing for Chinese financial attention. At the EU level, there was increasingly louder talk of import tariffs as the bloc tried to build its own transition supply chain very much from scratch in a bid to protect…