2024-10-22 23:55:08
Automotive
Business

Mercedes CEO Advocates Dialogue Over Tariffs

Image used under license from Shutterstock.com

Mercedes CEO Ola Källenius has urged the European Union to delay proposed tariffs on Chinese electric vehicles, advocating for negotiations with China instead. The EU's plan to impose tariffs, supported by a majority of member states, aims to counteract Chinese subsidies perceived to harm European industry. These tariffs could be implemented as soon as November, unless diplomatic solutions are achieved.

The European automotive sector, employing 13.8 million people and contributing over 7% to the EU's economic output, could face significant impacts from these measures. Critics argue that the tariffs, which range from 7.8% to 35.3%, are necessary to ensure fair competition, as Chinese carmakers benefit from substantial subsidies that reduce their prices in Europe.

Germany, among a few other countries, has expressed concerns about a potential trade war, voting against the tariffs. The EU might escalate the situation to the World Trade Organization if needed. Meanwhile, the broader automotive market remains on edge, with German manufacturers like BMW and Volkswagen navigating additional challenges due to external trade pressures, including those from the US. The ongoing debate underscores the intricate balance between protecting local industries and maintaining global trade relations.

handelszeitung
21. Oktober 2024 um 12:48

Mercedes CEO is against EU tariffs on Chinese electric cars

Economy
Politics
Mercedes CEO Ola Källenius is calling for a postponement of the planned EU tariffs on Chinese electric cars in order to enable negotiations with China. A majority of EU countries voted for the tariffs, which could come into force in early November. The EU Commission complains that China's subsidies threaten to damage the European industry. If a solution with China is reached in time at the negotiating table, the tariffs can be stopped.
EuroNews
22. Oktober 2024 um 15:00

EU DECODED: Pros and cons of tariffs on Chinese electric vehicles

Politics
Economy
Finance
EU to raise tariffs 7.8-35.3% on Chinese EVs to level playing field. EC found subsidies let Chinese undercut prices. Germany opposed, fears trade war. EU can take case to WTO.
EuroNews
22. Oktober 2024 um 15:00

EU DECODED: The Pros and Cons of Tariffs on Chinese Electric Vehicles

Politics
Economy
Finance
The EU is increasing tariffs on Chinese electric cars to level prices; the European Commission is investigating subsidies; trade issues between the EU and China.
EuroNews
22. Oktober 2024 um 15:00

EU DECODED: Advantages and Disadvantages of Tariffs on Chinese Electric Vehicles

Politics
Economy
Chinese electric car sales in the EU have quadrupled; the EC will apply higher tariffs to rebalance the trade balance; the goal is to avoid illegal subsidies and have fair competition conditions; China could take countermeasures but Germany has voted against the measure for fear of a trade war.
CW

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