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The EU investigation into electric car subsidies in Beijing aims to protect European carmakers from an influx of cheap Chinese cars. But if it leads to reciprocal tariffs,
This was reported by Bloomberg, according to a report from Ukrinform.
According to analysts, the automakers most at risk of being harmed if the trade dispute between the EU and China escalates are Mercedes-Benz Group AG, BMW AG and Porsche AG.
Since September 13, when the EU announced the investigation, Porsche shares have fallen 7.6%, while BMW and Mercedes-Benz shares have fallen more than 1%.
According to experts, revenues from the Chinese market account for more than 25% of the underlying net profit of German automakers. In 2022, China accounted for more than a third of global sales of BMW 7 Series models and Mercedes S-Class models.
The EU’s chief trade negotiator, Valdis Dombrovskis, confirmed on Monday the bloc’s “stronger” stance on trade with China.
“If China decides to retaliate with import duties, the ‘Made in Germany’ label, long considered a sign of sophistication, could be a disadvantage,” the release said. The statement was included.
European Trade Commissioner Valdis Dombrovskis is visiting China, Ukrinform reported. He will insist on the removal of restrictions on the activities of European companies in the Chinese market and will need to clarify some of the European Commission’s actions in Beijing that are considered anti-China.
Source: Ukrinform
As an experienced journalist and author, Mary has been reporting on the latest news and trends for over 5 years. With a passion for uncovering the stories behind the headlines, Mary has earned a reputation as a trusted voice in the world of journalism. Her writing style is insightful, engaging and thought-provoking, as she takes a deep dive into the most pressing issues of our time.
