There's a trade war happening with the EU & China particuluarly in Chinese EV and Chinese EV batteries imported into the EU .
On BEVs that has been increased last week from 35% to 45% Before that it was 35% (10% standard + 25%) . This is merely an addendum to the US tariff which is a crippling 110%.
IMO China is right in cancelling auto investment in Europe until this debacle is resolved. Keep in mind that European car manufacturers (particularly German) are highly relient in China for profit as is Tesla.
These punitive tariffs are contrary to WTO norms and IMO spells the end of the WTO just as the recent warmongering is spelling an end to the UN . In short the post WW2 global order instigated by the USA is in tatters and we are seeing a new system evolving .
IMO if China levies corresponding levies on US & European car manufacturers operating in China, we could see mass bankrupsies.
The question is can the Japanese and the Koreans steer clear of this economic "war"?. No doubt the US will compel then to shun China "or else" ???
