US penalties on Chinese imports elicits concerns over possible harm in Europe.
The upcoming American increase in tariffs on Chinese goods has raised concerns in Brussels. Bernd Lange, Chair of the Trade Committee in the European Parliament, spoke about the potential for "collateral damage, especially for Europe." He worries that more Chinese electric cars could end up in the EU as a consequence of the US's punitive tariffs.
Lange labeled the US actions as "protectionist" and characterized their approach towards China as "confrontational." Europe's supply chain connections with China, Lange argued, are far greater than those of the US. As a result, "we must also act strategically independently and not allow ourselves to be yoked to foreign carts."
Michael Bloss, a Green MEP, expressed his worry that "even more Chinese dumping products could reach us." Bloss highlighted that this situation could particularly harm European climate protection technologies, such as electric cars, solar cells, and semiconductors.
The EU Commission stated that they were monitoring the US announcement and were evaluating any potential impacts on Europe. A spokesperson from the Brussels authority noted that a competition investigation was launched at the end of 2023, as Beijing was suspected of offering illegal subsidies for electric cars. If Beijing was indeed found guilty of violating international trade law, the EU could impose punitive tariffs on Chinese vehicles.
German car manufacturers cautioned against imposing such measures. They have made considerable investments in China over the years and fear reprisals from Beijing. The US tariff increases apply to numerous Chinese products, such as electric cars, batteries, chips, and various raw materials. The White House estimated that Chinese imports worth $18 billion (€16.7 billion) are at stake.
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The reproach of protectionism towards the US from European leaders is growing due to their punitive tariffs on Chinese imports, which could lead to collateral damage in Europe. The fear of increased Chinese imports, such as electric cars, as a result of the US tariffs is causing concern among European manufacturers and policymakers. China could potentially face punitive tariffs from the EU if they are found to be offering illegal subsidies, as suggested by the EU Commission's competition investigation.
Source: www.ntv.de
