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German Chamber in China Says EU Tariffs Won’t Protect Automakers

Livemint

Livemint · 1y ago

German Chamber in China Says EU Tariffs Won’t Protect Automakers

The German business chamber is urging the European Union (EU) to invest in becoming more competitive instead of imposing tariffs on electric vehicles (EVs) from China. The EU has decided to increase levies on EVs imported from China by up to 48% due to accusations of market distortion through state subsidies. The German government is working to prevent or reduce these tariffs to avoid potential retaliation from Beijing. German companies in China have identified price pressures and overcapacity as key challenges, and believe competitiveness is crucial for survival.

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EU investigators to inspect China's BYD, Geely and SAIC in EV probe

Reuters · 1y ago

EU investigators to inspect China's BYD, Geely and SAIC in EV probe

The European Commission is set to inspect Chinese automakers, including BYD, Geely, and SAIC, as part of an investigation into whether to impose punitive tariffs to protect European electric vehicle (EV) makers. The probe, launched in October, aims to determine if cheaper Chinese-made EVs unfairly benefit from state subsidies. The visits are for verification work, checking the automakers' responses to questionnaires. China considers the investigation protectionist, which has further strained tensions between Beijing and the EU. Chinese-made vehicles currently hold an 8% share of the EU's EV market.

VW CEO: Chinese automakers should be allowed to avert tariffs by investing in EU

Livemint

Livemint · 10m ago

VW CEO: Chinese automakers should be allowed to avert tariffs by investing in EU

- VW CEO, Oliver Blume, suggests a shift from punitive tariffs to mutually beneficial credit for investments. - The European Union plans to impose tariffs on China-made electric vehicles, despite opposition from Germany and its carmakers. - The proposed tariffs could cost carmakers billions of dollars and would be implemented from next month for a period of five years. - The move highlights a significant trade dispute between the EU and China, marking the largest in a decade. - The EU aims to protect its own car industry and create a level playing field by imposing these tariffs.

China voices dissatisfaction after EU's formal launch of EV subsidy probe

Economic Times

Economic Times · 1y ago

China voices dissatisfaction after EU's formal launch of EV subsidy probe

China has expressed dissatisfaction with the European Union's demand for consultations on its investigation into subsidies for Chinese electric vehicles. The Chinese commerce ministry stated that the investigation lacked evidence and violated World Trade Organization rules. China urged the EU to protect the global supply chain and the strategic partnership between the two. The European Commission recently launched the investigation to assess whether tariffs should be imposed on cheaper Chinese electric vehicle imports that allegedly benefit from state subsidies.

Computer chip group SEMI says EU needs assertive industrial policy

Economic Times

Economic Times · 8m ago

Computer chip group SEMI says EU needs assertive industrial policy

SEMI Europe, an industry group, called for the European Commission to adopt recommendations made by Mario Draghi and launch a European Chips Act 2.0 to bolster Europe's competitiveness against the US and China. The group supports the centralised EU budget proposed by Draghi, along with a fast-track approval process for high-tech projects and increased spending to strengthen the European semiconductor ecosystem. As the US and China impose export restrictions on chip technology, SEMI Europe urges the EU to make quick decisions on its own export policy to protect strategic interests and assert a strong global presence.

Germany slams Donald Trump tariffs, US tech titans in crosshairs

Economic Times

Economic Times · 4m ago

Germany slams Donald Trump tariffs, US tech titans in crosshairs

German Chancellor Olaf Scholz criticized new US tariffs as "fundamentally wrong," warning that the European Union might retaliate by targeting American tech giants. The tariffs, unveiled by President Trump, could harm global trade and economies. Economy Minister Robert Habeck mentioned potential EU tax measures against US tech firms. As Germany faces significant impact due to its major exports, business groups decried the tariffs as a threat to international trade and economic stability.

Centre Mulling Stringent Norms For Investment Under New EV Policy

Inc42 · 1y ago

Centre Mulling Stringent Norms For Investment Under New EV Policy

India has reduced import duties on electric vehicles (EVs), sparking concerns over a potential trade imbalance with China in the auto sector. India currently imports around 25% of auto components from China. Meanwhile, foreign automakers based in countries sharing a border with India, such as China, will face increased scrutiny under the new EV policy. Existing companies in India will not be required to establish a new subsidiary to apply under the policy, and they can apply for an import license after making investments in the country. The reduction in tariffs is expected to benefit Chinese automakers looking to expand into new markets.

German data protection official wants Apple, Google to remove DeepSeek from the country's app stores | TechCrunch

TechCrunch · 1m ago

German data protection official wants Apple, Google to remove DeepSeek from the country's app stores | TechCrunch

A German data protection official reported the AI app DeepSeek to Apple and Google for illegal data transfers to China, urging removal from app stores. The app failed to show compliance with EU data protection laws, risking personal data access by Chinese authorities. Previously banned by Italy, DeepSeek’s operations and data storage are based in China. Apple and Google must decide on app removal, as DeepSeek ignored compliance requests.

EU eyes deeper trade ties with India, Asia-Pacific amid looming US tariffs

Economic Times

Economic Times · 25d ago

EU eyes deeper trade ties with India, Asia-Pacific amid looming US tariffs

The European Union seeks to strengthen trade ties with India and other Asia-Pacific nations in response to potential U.S. tariffs, according to EU competition chief Teresa Ribera. The EU aims to finalize free-trade talks with India by year-end amidst the backdrop of U.S. tariff threats. Ribera, visiting Beijing for climate discussions, emphasizes the importance of building resilience and partnerships with allies. The EU also engages in trade and climate discussions with China amid reciprocal tariff tensions.

China says EU's 'unfair' EV subsidies probe risks damaging ties

Reuters · 1y ago

China says EU's 'unfair' EV subsidies probe risks damaging ties

China's ambassador to the European Union, Fu Cong, has criticized the EU's investigation into Chinese electric vehicle (EV) manufacturers over state subsidies, calling it "unfair". He stated that China is cooperating with the probe to avoid resorting to trade measures. Cong mentioned that the EU also provides subsidies to its own companies and suggested that if China adopted a similar approach, it could lead to investigations. Tensions between China and the EU have been rising, partly due to China's closer ties with Russia following the Ukrainian invasion. The EU is aiming to decrease its dependence on China for materials and products.

EU antitrust chief says Trump has upended Europe-US relations

Economic Times

Economic Times · 5m ago

EU antitrust chief says Trump has upended Europe-US relations

The EU's competition chief criticized former US President Trump's approach, saying it strained EU-US relations and urged Brussels to focus on stability. Despite the critique of Trump's policies and tariffs, the EU remains committed to its principles, values, and laws. The EU plans to make significant regulatory decisions on tech giants Apple and Meta, amidst ongoing trade tensions. The EU seeks a predictable and stable business environment, contrary to the unpredictability perceived from Trump's administration.

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