The EU imposed tariffs on electric vehicles made in China – and the reactions followed promptly. In other news, the largest rare earth producer outside the People’s Republic posted figures for the past quarter, and the International Energy Agency released a report on clean energy technologies.
EU Tariffs on Chinese EVs: Criticism From Both Sides
Since Wednesday, the EU’s import tariffs on Chinese electric vehicles have been in effect. The measure is justified by claims of unfair competitive advantages due to state subsidies. Massive criticism is coming not only from China, which accuses the EU of protectionism, but also from the German auto industry.
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IEA: Market Size of Clean Energy Technologies Closing in on Crude Oil
According to the International Energy Agency (IEA), the market size of clean energy technologies is expected to almost triple from $700 billion today to $2 trillion in 2035. In its latest report titled Energy Technology Perspectives 2024, the agency sheds light on how the six most adopted and manufactured clean energy technologies are shaping global trade and manufacturing.
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Revenue Decline at Rare Earth Specialist Lynas
The largest producer of rare earths outside China, the Australian company Lynas, published results for the first quarter of the 2025 financial year on Wednesday. The company reported a revenue decline of nearly six percent compared to the same period last year, amounting to roughly $79 million.
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China Pledges to Boost Renewables Further
On Wednesday, the Chinese government published guidelines on replacing fossil fuels with renewable energies. The regulations outline how the People’s Republic seeks to boost its clean energy sector to achieve the self-proclaimed carbon peak target in 2030. Key provisions of the guidelines include a ramp-up of solar, wind, and other clean energy technologies.
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