Reported 7 months ago
A batch of BYD electric cars prepared for export in Lianyungang, Jiangsu Province, China on June 14, 2024. The EU recently announced increased import tariffs on Chinese electric cars, set to take effect next month on July 4. Bloomberg reports that Germany is attempting to prevent or minimize the impact of these tariffs, believing that dialogue between the EU and China could lead to an agreement before the new tariffs are enforced. If Germany fails to stop the tariffs, they will strive to mitigate potential consequences. China has vowed to take necessary measures to protect its interests, including investigating EU imports of agricultural products. Additionally, China may retaliate by imposing tariffs on German imports of high-powered engines. German economy minister Robert Habeck expressed hope in halting a possible tariff retaliatory cycle, planning to discuss the issue during his upcoming visit to China next week.
Source: YAHOO