Oliver Blume, the CEO of Volkswagen, has voiced his opinion that the European Union should modify its planned tariffs on electric vehicles (EVs) manufactured in China, advocating for a system that rewards investments made within Europe.
In an interview with Bild am Sonntag, Blume stated, “Instead of punitive tariffs, this should be about mutually giving credit for investments. Those who invest, create jobs, and collaborate with local companies should benefit when it comes to tariffs.”
The EU has confirmed its intent to implement tariffs on Chinese-made EVs, which could soar as high as 45%. This decision, which is set to take effect next month and will remain in place for five years, comes in response to concerns about alleged unfair subsidies from China.
The European Commission, overseeing trade policy in the bloc, conducted a year-long investigation that led to this move, although it remains open to ongoing discussions with Beijing.
Blume warned that retaliatory measures from China could adversely impact European car manufacturers, adding to the tensions surrounding this trade dispute.
The controversy represents a significant challenge in EU-China relations, marking the most considerable trade conflict between the two sides in a decade.
