German car industry urges EU to drop planned tariffs on China-made EVs [Globe and Mail, The (Toronto, Canada)]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
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Source: Globe and Mail, The
Listen to this article Log in or create a free account to listen to this article. Germany's VDA auto association has urged the European Commission to drop its planned tariffs on China-made electric vehicles in a last-ditch effort to influence negotiations ahead of the tariffs kicking in on Thursday. The association said in a statement on Wednesday the tariffs would hurt European and U.S. car makers exporting from China and risked retaliation by China with counter-tariffs, which would hit the German industry hard given its high volume of exports to China. The value of passenger car exports from Germany to China last year was more than three times the value of imports from China, and the value of exports by component suppliers was four times as much as the value of imports, according to the VDA. The Commission should instead focus on securing access to critical raw materials – many of which are controlled by China – for Europe's EV industry, reducing barriers to market access
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