Reported 8 months ago
During German Economy Minister Habeck's visit to China on June 22, it was revealed that the EU plans to impose punitive tariffs of up to 48% on Chinese electric cars starting July 4 to counter China's subsidies. Beijing is trying to persuade European companies, mainly German, to pressure the EU to halt the tariffs and is willing to reduce tariffs on large-displacement European imported cars in return. Beijing's retaliatory measures are focused on high-displacement, expensive European imported cars, targeting primarily German vehicles to drive a wedge within the EU. Despite calls from China and implications of a trade war, the EU is unlikely to stop the tariffs before the French parliamentary elections, with experts believing it would require significant concessions from Beijing.
Source: YAHOO