The European Commission is poised to approve tariffs on electric vehicles (EVs) imported from China, aiming to address competitive pressures within the automotive industry. Daniel Gros, director of the Centre for European Policy Studies, shared this insight during an interview with CGTN at the 2024 Bund Summit in Shanghai.
Gros highlighted the European Union’s concerns over the growing market presence of Chinese EV manufacturers. “The European Commission will likely approve tariffs on Chinese EVs due to concerns about competing with China,” he stated. The move reflects apprehension about the balance of trade and the competitiveness of European manufacturers in the rapidly expanding EV market.
However, Gros expressed skepticism about the effectiveness of the tariffs in curbing the influence of Chinese EV makers. “The cost advantages of Chinese EV makers mean the tariffs’ impact will be limited,” he noted. Chinese manufacturers have been able to produce EVs at lower costs, allowing them to offer competitively priced vehicles in the global market.
The remarks come amid a broader discussion on international trade policies and the dynamics of the global EV market. The European Union’s potential implementation of tariffs signifies a strategic effort to bolster its own automotive industry while navigating complex trade relations with China.
The 2024 Bund Summit in Shanghai gathered experts and leaders to discuss economic trends and policies affecting Asia and the global economy. As the EV market continues to grow, the interplay between Chinese and European manufacturers remains a focal point for policymakers and industry stakeholders alike.
Reference(s):
European official: EU seeks tariffs to compete with Chinese EV makers
cgtn.com
