Although EU tariffs are supposed to support the auto industry, German automakers are saying, 'No, thanks'
BMW CEO Oliver Zipse says the German auto industry doesn't need protection in the form of EU tariffs against Chinese components. Mercedes ' CEO agrees, claiming that, if anything, import duties for the Asian superpower should be reduced. The EU is set to make a final decision on tariffs in November.
Read: Mercedes Boss Pleads With EU To Reduce, Not Increase, Tariffs On Chinese EVs However, BMW and Mercedes both operate manufacturing plants in China, and they argue that introducing import tariffs on Chinese-made cars and components could slow Europe's transition to electric vehicles. We don't think that our industry needs protection, BMW CEO Oliver Zipse said this week, per Reuters. There is no Green Deal in Europe without resources from China.
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