June 23, 2024

Valley Post

Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

Germany vetoes the imposition of tariffs on Chinese electric cars by the European Union

Germany vetoes the imposition of tariffs on Chinese electric cars by the European Union

Volkswagen: Escalating trade dispute would fuel inflation and delay transition to a cleaner energy economy

German Chancellor Olaf Schulz The European Union opposed protectionist policies for the automobile industryThe European Union is moving to impose tariffs on electric cars imported from China.
the Auto industry from Germany Benefit from the partnership with China It will be able to compete with automakers in the Asian country if trade continues “fair and free”, Schulz said, Saturday, June 8, 2024, according to a Bloomberg report.
The European Union is expected to announce Assignments this month Targeting Chinese electric cars After investigating government support for electric cars in the country.
Beijing has made this clearIt is preparing to retaliate against big-engined cars made in the European Union, a move expected to hit German automakers Mercedes-Benz, Porsche and BMW hard.
“the Isolation and illegal tariff barriers – What they ultimately achieve is tAnd it always becomes more a“It is expensive and everyone is poorer.”Schultz said at an event she organized Opel Ha Stellantis Nevada In Rüsselsheim, Germany.
“We do not close our markets to foreign companies, because we do not want that for our companies either.”he added.

Competitiveness

Germany’s strong automobile industry He opposed tariffs, saying that Its trade relations with China ensure job opportunities in the country.
The escalating trade dispute will trIt would fuel inflation and delay the transition to a cleaner energy economy, its former CEO said earlier this month Volkswagen AG Herbert Dyess.
Brussels makes a decision on customs dutiesWhile electric car sales are slowing in Europe, Which led to the emergence of automobile manufacturers such as Volkswagen AG and Mercedes-Benz Group AG, to adapt their production.
The industry must continue to transform, Schultz said towards battery power to ensure it remains competitive for years to come.
“Questioning progress and delaying renewal and transformationIt will have bitter consequencesSchultz said.
“If we do this, others will surpass us.”


www.bankingnews.gr

See also  Made in Europe: The Big Plan