Germany BMW boss calls for rejection of punitive tariffs on electric cars from China
Brussels and Beijing have been arguing for months about tariffs on electric cars from China. German car manufacturers warn of the consequences.
02.10.2024, 05:15
SDA
Ahead of the EU member states' vote on punitive tariffs on Chinese electric cars, BMW CEO Oliver Zipse has called on the German government to say a clear "no".
Germany's prosperity depends on open markets and free trade, he said. Additional tariffs would harm globally active German companies and could "provoke a trade conflict that ultimately only knows losers", said Zipse. "The German government should therefore take a clear stance and vote against the introduction of additional tariffs in the EU."
The EU Commission has investigated competition-distorting subsidies for Chinese e-cars and is planning punitive tariffs of up to 36 percent.
However, the final decision now lies with the 27 member states. The Chinese government accuses the EU of protectionism and is threatening to take countermeasures.
According to the industry association VDA, the German automotive industry exported vehicles and parts worth 26.3 billion euros to China last year.
Cars and components worth 6.8 billion euros were imported from China. According to the VDA, the potential damage of punitive tariffs for the German automotive industry is greater than the potential benefit.
