- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Spurs star Maddison eyes return to England squad
- Eight Israel soldiers dead as Hezbollah claims to repel incursion
- French luxury goods giant LVMH in F1 sponsorship deal
- Juve's injury-hit Milik undergoes more knee surgery
- Pochettino gives chance to USA squad to prove their worth
- NBA legend Jordan files anti-trust lawsuit against NASCAR
- Bridgestone latest Japanese firm to end Olympics sponsorship
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- McIlroy hopeful golf's civil war will be over by end of 2024
- Oil prices pare strong gains, stocks waver on Middle East worries
- Buttler returns as England captain for West Indies tour
- Biden, Harris travel to areas hit hard by Hurricane Helene
- First deaths as Israeli ground forces clash with Hezbollah
- Macron backs Chinese EV tariffs as Scholz calls for dialogue
- Study reveals long-term death toll of cyclones as world battered
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Russia opens 'extremist' trial of four independent journalists
- Alcaraz 'got the joy back' after dramatic Beijing title win
- How will Israel react to Iranian missile attack?
- British jets 'played their part' in defending Israel: UK
- Carter beloved in hometown, but many voting for Trump
- Oil prices rise further, stocks waver on Middle East worries
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Israel, Hezbollah in deadly fighting on Lebanon border
- Boys out of critical condition after Zurich stabbings
- EU queries Snapchat, TikTok, YouTube over 'harmful' content risks
- Battling Alcaraz outlasts Sinner in thriller to win China Open
- Barca lure goalkeeper Szczesny out of retirement
- Blasts, shooting around Israeli embassies in Nordic capitals
- Spain logs record summer tourism as inflow draws protests
- Hedi Slimane quits as Celine's artistic director
- Oil prices extend rally on Iran attack
- Britain's Starmer in Brussels to flesh out EU 'reset' pledge
- Pope opens new debates on Catholic Church future
- Ukraine withdraws from eastern town of Vugledar
- Weeping families mourn Thai school bus crash victims
- Pride and fear in Iran after missile attack on Israel
- Spain welcomed record number of tourists this summer
- Newest China tennis hope Bu takes hard path to face world's best
- France says coming tax hikes on the wealthy to be 'temporary'
- Why are Thailand's roads so deadly?
- 'Humiliated' profession - Afghan media says abuses rising
- Biden, Harris to visit Hurricane Helene disaster zone
- Oracle to invest $6.5 bn in Malaysian cloud services region
- Parkrun marks 20 years of a free weekly jog, run... or walk
- Thousands march in India as doctors resume strike
- Africa roads among world's deadliest despite few cars
CMSC | -0.04% | 24.76 | $ | |
RYCEF | 1.42% | 7.03 | $ | |
RIO | -0.13% | 71.065 | $ | |
RBGPF | -2.18% | 59.5 | $ | |
BCC | -0.26% | 141.02 | $ | |
CMSD | -0.04% | 24.93 | $ | |
SCS | -1.93% | 12.95 | $ | |
GSK | -2.12% | 39.465 | $ | |
RELX | 0.03% | 47.355 | $ | |
NGG | -1.62% | 68.93 | $ | |
AZN | 0.87% | 79.36 | $ | |
VOD | -2.31% | 9.725 | $ | |
JRI | -0.12% | 13.514 | $ | |
BTI | -1.43% | 35.935 | $ | |
BCE | -1.29% | 34.385 | $ | |
BP | 0.28% | 32.18 | $ |
Macron backs Chinese EV tariffs as Scholz calls for dialogue
French President Emmanuel Macron reaffirmed his support for EU tariffs on Chinese electric vehicles, during a visit to Berlin on Wednesday.
Macron had earlier met with Chancellor Olaf Scholz, whose government fears a trade war with China that could hurt Germany's crucial auto sector.
Brussels plans to levy additional duties of up to 36 percent on electric vehicles imported from China, with member states expected to vote on the issue on Friday.
The European Commission announced the tariffs in July, following the conclusion of an anti-subsidy probe which found China was dolling out unfair state aid to carmakers.
"I do support the European Commission on that," Macron said when questioned about the issue at the Berlin Global Dialogue event.
European manufacturers had to "compete with some carmakers producing in China with an existing advantage", Macron said.
The Chinese subsidies introduced a "bias" into the market, Macron said.
If a level playing field was not reestablished with Chinese manufacturers in this area, he warned that this could imperil hopes to "produce and preserve your industrial footprint in Europe".
Speaking earlier on Wednesday, Scholz pleaded to keep an open dialogue with China over the issue of electric cars.
"We have to protect our economy from unfair trade practices," Scholz said in a speech at the German Federal Association of Wholesale, Foreign Trade, Services.
Scholz also echoed the need for a level playing field but said that the EU's response "must not lead to us harming ourselves".
"That is why negotiations with Beijing on electric vehicles must continue," Scholz said, adding that action was needed where China was "actually damaging our economy, such as steel".
Germany's all-important auto manufacturers have come out in force against the EU tariffs, for fear of retaliation from China that could hurt sales in the key Asian market.
Speaking at the same event as Macron in Berlin, the head of Mercedes-Benz, Ola Kallenius, said tariffs were a "crude instrument".
And BMW CEO Oliver Zipse said in a statement that the German government should "vote against the introduction of additional tariffs".
Import taxes "harm globally active companies in this country and could provoke a trade dispute from which no one gains", Zipse said.
G.Schulte--BTB