Germany's transport minister opposes tariffs on Chinese EV

Germany's transport minister opposes tariffs on Chinese EV

BYD, a Chinese EV manufacturer, showcases its electric car seal at the Paris car show on Oct. 17. 2022 in Paris.

On Monday, the German transport minister spoke out against protective tariffs, which could be imposed on Chinese electric vehicles by the European Union.

Volker Wissing, the editor-in-chief of the Augsburger Allgemeine newspaper, told the paper that he t think much of erecting market barriers. s chemical products, and each individual step in itself makes the world poorer, he said.

Wissing, 50, said he was happy with his team's performance. The other hand, a trade war could quickly spread and cause massive economic damage, the German politician warned.

For the German car industry, which China is the biggest customer, the measures would be a threat, according to experts.

More than one in three of Germany's biggest car maker Volkswagen's vehicles went to customers in China in August, the company said.

Motor vehicles and parts were Germany's top selling product in China in the first quarter, according to official figures.

If Europe's biggest economy decoupled economically from China, its gross domestic product would drop by 2 percent. This would lead to annual losses of 57 billion euros, according to the latest study on behalf of the Foundation for Family Businesses.

In Munich, China EV makers show their products at the show.

China and the EU have a broad space for cooperation and common interests in the automotive industry, said a spokeswoman for China's ministry of commerce, adding that after years of development, they have formed a pattern of mutual support.

The company's brand Audi continues to expand its relationship with SAIC, its Chinese joint venture partner.

Other carmakers, such as Geely and Daimler, are also working closely together. Wissing said he had no idea what he meant by this, and he added: With this in mind, Wissing said.