China Calls on EU to Reconsider Tariffs on Chinese Electric Vehicles
China urges the European Union to rethink tariffs on Chinese electric vehicles, arguing that such actions protect the EU auto industry from competition. The response from China, European and Chinese car manufacturers, and industry groups shows opposition to the EU’s decision and a desire to de-escalate tensions.
China plans to defend its interests following the EU’s announcement of additional duties on Chinese electric cars. These tariffs could cost carmakers billions of euros, prompting China to consider retaliatory measures.
Collaboration between China and the EU is encouraged for economic and trade benefits. The EU’s move comes after the US also imposed higher duties on Chinese EVs, causing fluctuations in Chinese EV stocks.
Chinese EV Shares React Differently
While some Chinese EV stocks surged, European automakers faced declines amid fears of Chinese retaliation. European automakers view the influx of cheaper Chinese EVs as a challenge but prefer collaboration over tariffs.
China hopes the EU will reconsider its stance and avoid further clashes in trade and economic relations.