automotive
German Chancellor Olaf Scholz is hoping that that punitive tariffs the EU has threatened to slap on Chinese electric vehicles can still be prevented in negotiations with Beijing. Scholz said he had been "firmly promised" that the EU's talks with Beijing would take place with this goal in mind, and that it was "the right way to go." He said the dispute could be resolved by the end of the month if all goes well. The European Commission, the EU's executive arm, threatened on Wednesday to impose import tariffs on Chinese electric vehicles of up to 38.1%, after an investigation found evidence of il...
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China has threatened to take the European Union to the World Trade Organization (WTO) over the high punitive tariffs it is considering on Chinese electric vehicles. "China reserves the right to file a complaint with the World Trade Organization and will take all necessary measures to firmly defend the legitimate rights and interests of Chinese companies," said He Yadong, a spokesman for the Commerce Ministry, on Thursday. The EU tariffs would not only "disrupt the mutually beneficial cooperation" in the field of electric vehicles, but also distort the global automotive industry and supply chai...
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The European Commission threatened on Wednesday to impose import tariffs on Chinese electric cars of up to 38.1%, after an investigation found evidence of illegal support from subsidies. The subsidies cause the "threat of economic injury" to electric car producers in the European Union, the commission said. The provisional tariffs on Chinese manufacturers could range from 17.4% on BYD, 20% on Geely and 38.1% on SAIC. Manufacturers that did not cooperate with the commission investigation could be hit with import tariffs of 38.1%. Existing EU tariffs on all non-EU manufacturers of cars stand at ...
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The head of German carmaker BMW criticized European Commission threats to impose punitive tariffs on imported Chinese electric vehicles. Tariffs are "the wrong way to go," BMW chief executive Oliver Zipse said on Wednesday. "The European Commission is damaging European companies and European interests." Zipse warned that trade protectionism could set a spiral in motion, with tariffs leading to new tariffs and isolation. "From the BMW Group's point of view, protectionist measures such as the introduction of import tariffs do not help us to compete on international markets," he said. BMW also bu...
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China's Ministry of Commerce has sharply criticized the European Union's threat of punitive tariffs on electric cars from the People's Republic and has hinted at countermeasures. Beijing will closely monitor the European side's further process and resolutely take all necessary measures to protect the rights and interests of Chinese companies, a spokesman for the ministry announced on Wednesday. China is very concerned and dissatisfied with the EU's behaviour and Chinese industry is disappointed, he said. The European Commission has threatened high provisional punitive tariffs on e-cars from Ch...
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German government ministers urged talks with China and warned of a potential trade escalation on Wednesday after the European Commission publicly warned of possible punitive tariffs on Chinese electric vehicle imports. Vice Chancellor Robert Habeck, a Green, backed negotiations with China to solve the trade impasse and credited the European Commission with presenting a nuanced report - but also cautioned that the European Union risked an escalating trade conflict. "It is crucial that we talk now," Habeck said on Wednesday in Berlin. "Tariffs are always only the last resort as a political measu...
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The European Commission threatened on Wednesday to impose import tariffs on Chinese electric cars of up to 38.1%, after an investigation found evidence of illegal support from subsidies. The subsidies cause the "threat of economic injury" to electric car producers in the European Union, the commission said. The provisional tariffs on Chinese manufacturers could range from 17.4% on BYD, 20% on Geely and 38.1% on SAIC. Manufacturers that did not cooperate with the commission investigation could be hit with import tariffs of 38.1%. Existing EU tariffs on all non-EU manufacturers of cars stand at ...
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The German Association of the Automotive Industry (VDA) on Wednesday criticized the European Commission's threat to impose high import tariffs on electric vehicles from China. The influential industry lobby group's president, Hildegard Müller, called such tariffs an obstacle to global cooperation and said the move would increase the risk of global trade conflicts. China is a major market, as well as a key production location, for a number of large German automakers. "It is also a fact that countervailing duties on electric cars imported from China are not suitable for strengthening the competi...
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The European Commission threatens to impose import tariffs on Chinese electric cars after an investigation finds evidence of illegal support from subsidies.
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German carmakers performed poorly compared to their competitors when it comes to sales since the start of the year, according to an analysis by the consulting firm EY. German car manufacturers overall saw a 1.7% drop in sales and a 25% slump in profits, EY's report showed on Wednesday. EY analysed the key financial figures of the 16 largest car manufacturers worldwide for the study. German carmakers Volkswagen, BMW and Mercedes-Benz generated a combined turnover of some €148 billion ($159 billion). This still marked the second-highest figure in a first quarter since the study began in 2011. In...
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