China has warned of the “negative impact” it believes will have from the European Union investigation into Chinese subsidies for electric cars, at a time when EU manufacturers worry about competition unfair.
This measure “taken in the name of + fair competition +” is “openly protectionism” and it “will have a negative impact on economic and commercial relations between China and the European Union”, criticized the Ministry of Foreign Affairs in a press release. Chinese Commerce. The President of the European Commission Ursula von der Leyen announced on Wednesday the opening of an investigation into Chinese public subsidies for electric automobiles, in order to defend the European industry in the face of “artificially low prices”.
France in particular has been pushing in recent months for a Europe that asserts itself more in the face of practices deemed protectionist by China. Other member countries of the European Union (EU), such as Germany, which rely more on international trade, however fear offending Beijing. European companies “are often beaten on price by competitors benefiting from enormous public subsidies. We have not forgotten how much our solar industry has suffered from China’s unfair trade practices,” the president of the European executive said on Wednesday. China has long been banking on electric engines in automobiles and has taken a lead over Europe, particularly in battery technologies. Its manufacturers rely on their immense domestic market, the first in the world, to now conquer Europe thanks to the strong economies of scale from which they benefit.
This article is originally published on trends.levif.be