Reported 5 months ago
China's Chamber of Commerce to the European Union has indicated a potential increase in tariffs on imported large-engine vehicles to a maximum of 25%, in response to the Biden administration's announcement of tariffs on Chinese electric vehicles and other imports. This move is seen as a possible tit-for-tat escalation in trade tensions between the two nations, with implications for global vehicle imports, particularly affecting German carmakers like BMW and Mercedes.
Source: YAHOO