Oddbean

EU tariffs on China not a 'punishment', says German economy minister ========== Germany's Economy Minister Robert Habeck stated that proposed European Union tariffs on Chinese goods are not punitive measures, but rather intended to level the playing field. The EU is considering imposing hefty duties on imports of Chinese-made electric vehicles (EVs) to address what it sees as excessive subsidies. Habeck's visit to China is the first by a senior European official since the proposal was made. China has warned that escalating tensions over EVs could lead to a trade war. Habeck clarified that the EU does not use punitive tariffs like the US, Brazil, and Turkey, but rather employs countervailing duty measures to compensate for advantages granted to Chinese companies by Beijing. The European Commission has spent nine months examining whether Chinese companies have unfairly benefited from subsidies. Habeck made these remarks during a climate and transformation dialogue in Beijing, where he met with Zheng Shanjie, chairman of China's National Development and Reform Commission. #Eu #China #Tariffs #ElectricVehicles #Subsidies #TradeWar https://www.investing.com/news/economy-news/eu-tariffs-on-china-not-a-punishment-says-german-economy-minister-3492739