Habeck: There's still hope for avoiding EU penal tariffs towards China
Robert Habeck, Germany's Economy Minister, expressed hopes of avoiding penalties for Chinese electric cars. During a Berlin event on Wednesday, he stated that open dialogue should be prioritized over any potential penalties.
Habeck emphasized the importance of maintaining a free market and condemned new tariffs as a last resort, which are damaging to the economic prospects of both sides. However, he also acknowledged the need to address violations of fair trade, particularly when it comes to China's state subsidies.
The European Commission has proposed raising duties on electric vehicles from China by up to 38.1%. This exceeds initial expectations and is based on claims that Beijing's state subsidies distort the market.
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Habeck suggested that negotiations could be instrumental in mitigating the implementation of EU's proposed medium-level customs duties on Chinese electric vehicles. The escalation of EU punitive tariffs against China's electric car industry might further strain relations, considering Germany's significant involvement in both markets.
