Scholz set to side with Beijing over Brussels’ tariffs on electric cars

German Chancellor Olaf Scholz has opposed imposing trade tariffs on Chinese electric vehicles (EVs), highlighting significant political divisions within the European Union.

In a key vote this morning, Berlin voted against additional taxes on imported Chinese EVs, challenging the European Commission’s measures introduced over the summer.

These tariffs followed an EU investigation that found China’s electric car industry had benefited from “unfair” state subsidies, allowing Chinese manufacturers to undercut European competitors on price.

Previously, Germany had abstained from a non-binding vote on the matter. However, after intense lobbying from both Beijing and the German car industry—heavily reliant on exports to China—Scholz voted against the tariffs in a meeting of EU member states today, according to Reuters.

Despite this, Germany faces an uphill struggle to overturn the decision.

The European Commission’s proposal can only be blocked if a qualified majority of 15 EU countries, representing 65% of the bloc’s population, vote against it. However, France, Greece, Italy, and Poland are expected to vote in favor, providing enough support for the commission’s plan to succeed. Together, these countries represent 39% of the EU’s population.

The German government has declined to comment on the Reuters report.


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned
Share via
Copy link