Tariffs on Chinese EVs and Central Banks' Interest in the US Dollar

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The European Union plans to impose a 25% import levy on Chinese electric vehicles, potentially escalating to generate around 2 billion euros annually, although Germany and EU carmakers are concerned about potential trade wars. Central banks are increasingly favoring the US dollar, with a recent survey revealing a significant rise from 6% to 18% of central banks planning to boost their exposure to the dollar in foreign currency reserves.

Shari Redstone has ended talks with Skydance Media over a deal to control Paramount, the number of central banks seeking to increase their exposure to the US dollar has increased sharply this year, the EU plans to put hefty tariffs on Chinese electric vehicles, and the UK Tories' manifesto lays out billions in tax cuts. Plus, the FT’s Christine Murray explains why Mexico's peso slid after president-elect Claudia Sheinbaum proposed reforms.

Mentioned in this podcast:

EU to impose multi-billion euro tariffs on Chinese electric cars

Global central banks plan to increase dollar reserves, survey suggests

Rishi Sunak pledges £17bn in tax cuts to revive Tory election bid

Mexico’s president-elect vows to press ahead with controversial judicial overhaul

Shari Redstone ends talks with Skydance Media over deal to control Paramount

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Read a transcript of this episode on FT.com

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