Volkswagen CEO Oliver Blume has urged the European Union (EU) to reconsider its planned tariffs on electric vehicles (EVs) manufactured in China, suggesting that the bloc should account for investments made in Europe by automakers. In an interview with Bild am Sonntag, Blume emphasized that instead of imposing punitive tariffs, the EU should provide “mutually giving credit for investments,” arguing that companies that invest in local operations and create jobs should receive benefits concerning tariff structures.
The EU has expressed its intent to implement tariffs of up to 45% on Chinese-made electric vehicles, which could impose significant financial burdens on car manufacturers seeking to import their vehicles into the bloc. This decision comes amidst growing tensions over trade relations with China, as the EU aims to address what it perceives as unfair subsidies provided by the Chinese government to its automotive industry. Despite opposition from Germany and its automakers, the EU Commission, which oversees trade policies, is pressing ahead with these tariffs, citing a year-long anti-subsidy investigation.
Blume warned that the implementation of these tariffs could provoke retaliatory measures from China, potentially harming European car manufacturers. He highlighted the delicate balance the EU must strike to protect its domestic industry while fostering constructive trade relations with one of its largest trading partners. As discussions continue between the EU and Beijing, the future of the proposed tariffs remains uncertain, raising concerns about the broader implications for the automotive industry and international trade relations.
