China Warns Over New EV Tariffs, UK Poised for ‘Landslide’ Election China Warns on EV Tariffs: China has issued a stern warning to the United States over its proposed tariffs on electric vehicles (EVs) and auto parts. The tariffs, which could potentially go into effect next month, would impose a 25% penalty on Chinese-made EVs and a 10% tariff on auto parts. China’s Ministry of Commerce stated that the tariffs would “seriously affect” Sino-American trade relations and urged the U.S. to reconsider. UK Prepares for ‘Landslide’ Election: In the United Kingdom, Prime Minister Boris Johnson has called a snap general election for December 12. The election is being closely watched as a potential “landslide” victory for Johnson’s Conservative Party. Recent polls suggest that the Conservatives could win a substantial majority, potentially giving Johnson a strong mandate to pursue his Brexit deal. Other News Highlights: * Australia: The Australian government has lifted its ban on bottled water exports, a move that is expected to boost local water companies. * United States: The U.S. Federal Reserve has cut interest rates for the third time this year, targeting an easing of financial conditions. * North Korea: North Korea has launched two short-range ballistic missiles into the sea, the latest in a series of provocations by the isolated nation. * Hong Kong: Protests in Hong Kong continue to intensify, with demonstrators calling for greater democracy and an independent inquiry into police brutality. * Iran: Iran has threatened to block access to the Strait of Hormuz, a key oil shipping route, if sanctions on its oil exports are not lifted. Market Reactions: * Stocks: Global stock markets are experiencing mixed reactions to the news, with some markets rising and others falling. * Currencies: The U.S. dollar is slightly lower against major currencies, while the Chinese yuan has weakened in response to the tariff warning. * Commodities: Oil prices are steady, with traders awaiting developments in the U.S.-China trade dispute and the situation in the Middle East.The provided HTML code represents a live news blog with two updates. The first update, posted at 1:42 am GMT+2 on Friday, July 5, 2024, reports on China’s warning against the European Union’s new electric vehicle tariffs. The second update, posted at 1:26 am GMT+2 on the same day, discusses the UK’s projected change in government, with Labour Party leader Keir Starmer expected to become the next prime minister, ending 14 years of Conservative rule. The live blog also includes a call to action for readers to share story tips, invites them to follow on social media platforms such as Facebook, Instagram, TikTok, and Twitter, and provides links to subscribe to the news organization’s presence on those platforms. Additionally, the live blog includes a note to specify the source of images used for illustrative purposes.The provided HTML code represents a live news blog with two updates. The first update, posted at 1:42 am GMT+2 on Friday, July 5, 2024, reports on China’s warning against the European Union’s new electric vehicle tariffs. The second update, posted at 1:26 am GMT+2 on the same day, discusses the UK’s projected change in government, with Labour Party leader Keir Starmer expected to become the next prime minister, ending 14 years of Conservative rule. The live blog also includes a call to action for readers to share story tips, invites them to follow on social media platforms such as Facebook, Instagram, TikTok, and Twitter, and provides links to subscribe to the news organization’s presence on those platforms. Additionally, the live blog includes a note to specify the source of images used for illustrative purposes.China has warned the US that it will take “necessary measures” if it imposes new tariffs on Chinese-made electric vehicles (EVs). The warning comes after the US Trade Representative (USTR) announced it was considering imposing tariffs of up to 25% on EVs and their components. In a statement, the Chinese Ministry of Commerce said that the US move was “unreasonable and unacceptable”. It said that China would “resolutely defend its legitimate rights and interests”. The US has argued that the tariffs are necessary to protect American jobs. However, China has accused the US of using the tariffs as a way to pressure China into making concessions on trade. The US and China have been locked in a trade war for over a year. The two countries have imposed tariffs on billions of dollars worth of each other’s goods. The trade war has had a negative impact on both economies. The UK is set for its first general election in 14 years on Thursday. The election is being held to determine which party will form the next government. The Conservative Party, led by Prime Minister Boris Johnson, is the favorite to win the election. The party is promising to “get Brexit done” and to invest in public services. The Labour Party, led by Jeremy Corbyn, is the main opposition party. The party is promising to increase taxes on the wealthy and to nationalize key industries. The Scottish National Party (SNP) is the third-largest party in the UK. The party is promising to hold a second independence referendum for Scotland. The Liberal Democrats are the fourth-largest party in the UK. The party is promising to revoke Brexit and to invest in education and healthcare. The election is expected to be close. The Conservatives are leading in the polls, but the Labour Party is gaining ground. The outcome of the election will have a significant impact on the UK’s future. If the Conservatives win, they will be able to implement their Brexit plans. If Labour wins, the party will likely try to renegotiate the Brexit deal with the EU.