FRANKFURT (Reuters) – The European Union should consider adjusting planned tariffs against electric cars made in China to provide allocations for investments in Europe, the CEO of German car maker Volkswagen (ETR) said.
“Instead of punitive tariffs, it should be about giving reciprocal credit for investments,” Volkswagen CEO Oliver Blume said in an interview with Bild am Sonntag newspaper on Sunday. “Those who invest, create jobs and work with local companies should benefit.” When it comes to tariffs.”
The European Commission said on Friday that the European Union will go ahead with imposing tariffs on electric cars made in China, even after Germany, the bloc’s largest economy, and the German carmaker rejected those duties, revealing a rift over the largest trade dispute with Beijing in the world. A decade.
A proposed tariff on China-made electric vehicles of up to 45% would cost automakers billions of extra dollars to bring cars into the bloc, and is set to be imposed from next month for five years.
The Commission, which oversees the bloc’s trade policy, said it would address what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation, but also said on Friday it would continue talks with Beijing.
Volkswagen’s Blom told Bild am Sonntag newspaper that there was a risk that retaliatory tariffs by China could hurt European carmakers.