People take photographs of Volvo Car AB’s EX30 electric sport utility vehicle during the Beijing Auto Show on April 25. Photo: BloombergTrade frictions between the EU and China have led to a barrage of anti-dumping probes against Beijing amid allegations of unfair subsidies. Turkey raised customs duty on Chinese EVs last year to support the country’s first domestically produced EV. However, German Chancellor Olaf Scholz spoke out against restricting automotive trade as the EU moves closer to slapping tariffs on EVs imported from China. Germany’s auto industry is benefiting from business in China and would be able to compete with the Asian country’s automakers if trade remains “fair and free,” Scholz said on Saturday.

Source: The Times June 09, 2024 17:15 UTC