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Fed Warns “China Shock 2.0” as Semiconductor Exports Double

8/26/2026

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Summary

Story summary

Apollo chief economist Torsten Slok says China is exporting high-tech goods that compete with U.S. firms.
Semiconductor exports doubled in the Jan-July period.
BYD delivered 2.26 million EVs in 2025, overtaking Tesla’s 1.6 million.
Federal Reserve economists warned the shift signals a new “China Shock 2.0” phase.
The Biden administration imposed a 100% tariff on BYD cars, limiting competition with American automakers.

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Story summary

Apollo chief economist Torsten Slok says China is exporting high-tech goods that compete with U.S. firms.
Semiconductor exports doubled in the Jan-July period.
BYD delivered 2.26 million EVs in 2025, overtaking Tesla’s 1.6 million.
Federal Reserve economists warned the shift signals a new “China Shock 2.0” phase.
The Biden administration imposed a 100% tariff on BYD cars, limiting competition with American automakers.