In a significant move to ease rising trade tensions, Chinese Commerce Minister Wang Wentao met with German Vice Chancellor and Minister for Economic Affairs and Climate Action Robert Habeck in Berlin on Tuesday. The high-level discussion centered on the European Union’s proposed anti-subsidy probe into Chinese electric vehicles (EVs), a measure that threatens to disrupt the burgeoning EV market and strain Sino-European economic relations.
Minister Wang expressed deep concerns over the EU’s potential tariffs on Chinese EVs, emphasizing that such actions would not only harm China’s automotive industry but also have adverse effects on Germany’s economy. “The imposition of tariffs will seriously disrupt trade and investment cooperation between China and the EU, hurting both China and Germany,” Wang stated. He urged for a resolution aligned with World Trade Organization rules to prevent an escalation of economic and trade frictions.
Vice Chancellor Habeck echoed the sentiment for open trade, affirming Germany’s support for free trade principles. He underscored Germany’s openness to Chinese investment in its automobile and parts sectors. “Germany welcomes Chinese auto and parts companies’ investment and opposes the EU’s tariffs on electric cars from China,” Habeck declared. He assured that Germany would advocate within the European Commission to find an appropriate solution that avoids unnecessary trade conflicts.
The meeting highlights the intertwined nature of global supply chains and the importance of collaboration in the face of protectionist measures. Both leaders recognized the potential negative impact of the EU’s tariffs on the global EV market and affirmed their commitment to working together to find mutually beneficial solutions.
This dialogue comes at a critical time as the EU considers imposing tariffs to counter what it views as unfair subsidies in China’s EV sector. The outcome of these discussions could have far-reaching implications for international trade dynamics, especially in the rapidly growing EV industry.
The commitment from China and Germany to seek a balanced resolution underscores the significance of their bilateral relationship and the shared interest in maintaining stable economic ties. As the world shifts towards sustainable energy and transportation, cooperation between major players like China and Germany will be pivotal in shaping the future of the global economy.
Reference(s):
cgtn.com
