European automaker shares surged on Monday as China suggested that Germany’s luxury car manufacturers could benefit if the EU eliminates upcoming tariffs on Chinese electric vehicle exports, according to a Bloomberg report. This comes after a weekend discussion between Chinese and European trade negotiators.
On Saturday, Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Valdis Dombrovskis spoke via a video conference call about trade disputes between the EU and China surrounding the EU’s move to impose a tariff as high as 48% on EVs shipped from China as of July 4.
The Bloomberg report specified the ongoing economic chess game between the EU and China in resolving the upcoming EV tariffs: China floated lowering its existing tariffs on large-engine cars in return for scrapping planned EV levies on imports from the Asian nation , said the people, who spoke on condition of anonymity to discuss private talks. […]
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