The Globe and Mail reports in its Thursday, April 3, edition that President Donald Trump's "reciprocal tariffs" risk igniting a global trade war. The Globe's guest columnist Dimitry Anastakis writes that Mr. Trump is contributing to inflation, increasing economic uncertainty and market volatility, hindering the U.S. auto sector at a critical time. Since the 2000s, we have been experiencing Industry 4.0, characterized by robotics, advanced production, digitization, artificial intelligence and new materials. The electric vehicle revolution is vital for competing with China. If Mr. Trump's goal is to ensure that America loses the race for the fourth industrial revolution, he is doing a masterful job.
It began with the President attacking the EV measures passed by the last administration through the Inflation Reduction Act. Mr. Trump is completely hamstringing essential government support for this transition -- one that is akin to the greatest tech upgrade in history. Unravelling the economic support for EV and battery manufacturing in the U.S. will only widen the gap with China. Companies like BYD already dominate the global EV market, while China's impressive patent output reflects its technological lead in the sector.
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