Yesterday Donald Trump announced that due to the ongoing talks with China over the recent trade tensions making ‘substantial progress’, he will be delaying the planned rise in tariffs later this week. As usual the leader of the free world behaved like a teenager by posting his announcement first and foremost on social media (I wonder if he’s allowed his phone at the dinner table?) In two China-related tweets he said ‘I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues. As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!’ As it stands the US has imposed a 25% tariff on USD50bn of Chinese goods and 10% on USD200bn worth. The plan was that if there was no deal by the 1st March, one day later all duties would rise to 25%. Ahead of the talks, there were reports that China had agreed to buy USD1.2tn in goods from the US, however so far there have been no details as to the makeup of the goods.
Also, BMW and Porsche, along with a consortium of industry partners, have developed a prototype 450kW FastCharge unit that they say can give electric cars a 62 miles range with just 3 minutes of charging, with an 80% charge taking only 15 minutes. The new charger is more than triple the capacity of Tesla’s Supercharger network and promises to ‘make charging electric vehicles as fast and convenient as fuelling with petrol’. To give you an idea of the leap the new charger would have over the current ones, at the moment most home charging wall boxes deliver electricity at between 2.6 and 22 kW, with most public chargers delivering 50kW.
The biggest problem that new charger would have is that even the newest electric cars can only receive 150kW, however as technology moves forward, so will charge rates. In the meantime, the FastCharge has the capability of automatically detecting the charge rates of the vehicles plugged into it and adjusting its rates accordingly, so not to overheat the battery and damage the capacity of lithium-ion EV batteries.