The additional tariffs the European Union imposed on the electric vehicles (EVs) imported from China are harmful to export-dependent economies like China and Germany which need free markets, said a German business chamber leader.
Maximilian Butek, executive director of the German Chamber of Commerce in China - East China, made the statement in an interview with China Global Television Network (CGTN) on the sidelines of the AHK Greater China Xceleration Days 2024, which is taking place in Beijing from Nov 13 to 15.
"The tariffs are against carmakers who produce in China and deliver to Germany. And this also hits companies like Tesla or BMW. So, we positioned ourselves on behalf of our companies against tariffs because our economy is quite similar to the Chinese economy. We are highly export-dependent. So, we need free markets, and having implemented tariffs will not promote the idea of free markets. We need an open discussion because if the economy is continuing to slow down, we will not have a good winner out of that," he said.
Last month the European Commission announced the imposition of anti-subsidy tariffs on Chinese EVs. Starting Oct. 31, these tariffs will remain in place for five years with varying rates: 17 percent for BYD, 18.8 percent for Geely, and 35.3 percent for SAIC, among China's leading automakers. Additional firms that cooperated in the investigation will be subject to a 20.7-percent duty, while non-cooperative companies will incur the maximum 35.3-percent rate.
Butek also noted that German companies are committed to exploring the overseas market like China and the United States by creating jobs, bringing technologies and boosting innovation, thus urging the two economies not to decouple in case of taking a toll on consumers of both sides.
"Chinese companies have future advantages. German companies have future advantages. We German companies, we really love to be in China, to be very committed to our employees here. And we have more than one million employees in China to continue bringing technology, knowledge, innovation into China. And we also like to do that in the States. So, I believe that the tensions between U.S. and China, those two powers have to resolve that. And we, in the ideal world, try to work in both systems. And we just can urge both sides: don't decouple, because if you decouple, it's the consumers in China and in the U.S. will pay for it," he said.
As the flagship business event organized by AHK Greater China, the AHK Xceleration Days attract thousands of business leaders, executives, and representatives of international organizations, aiming to promote bilateral economic and trade exchanges and cooperation between China and Germany and to accelerate their business development in China.
EU tariffs on Chinese EVs harm export-dependent economies: business chamber leader
EU tariffs on Chinese EVs harm export-dependent economies: business chamber leader
Iran has surprised its foes with the extent of its military power and resilience in the conflict with Israel and the U.S., Egyptian analysts in Cairo said.
With the conflict in its fourth week, Iran has shown that while it may lack the strong military muscle of the U.S. and Israel, it can strike effectively at Israeli cities and U.S. Gulf allies.
Iran's military capabilities are perhaps proving stronger than previously anticipated.
As soon as Israel and the U.S. attacked Iran on February 28, Tehran responded with barrages of missiles targeting Israel as well as U.S. military facilities in the six Gulf Cooperation Council countries and Jordan.
As the war began to stretch, Iran has expanded the list of its targets to include a total of 10 countries, and among them is a British base in Cyprus used by the United States.
Last week, a reported Iranian attack on another British military base on Diego Garcia Island in Mauritius signaled Tehran's possible capability to strike targets up to 4,000 kilometers away from its shores, bringing most of Europe within its radius of reach.
Walid Atlam, a researcher at the National Center for Studies, said Iran managed to use its military power to seize the global economic artery, the Strait of Hormuz, to exert pressure on the U.S. and Israel.
"The Iranian tactical strike on southern Israel, including the one near the Dimona nuclear facility or on Arad is the most effective qualitative attack during this war. It is also the deepest hit yet inside Israel. Another success for Iran is the closure of the Strait of Hormuz -- though only a partial one. In doing so, Iran managed to pressure a pillar of the global economy by disrupting energy markets and global supply chains. These effects will be felt even after a ceasefire," he said.
Iran does not match the U.S. and Israel in military might. For Tehran, surviving the war is the ultimate goal. Until then, it aims to inflict maximum damage -- not only militarily but also politically.
Mohamed al Shahawy, former chief of staff of military chemical warfare of the Egyptian Armed Forces, said Iran has surprised its foes with its military capabilities.
"Iran's resilience in fighting into the fourth week is the biggest surprise, so is its ability to target U.S. military bases with new generations of missiles. The U.S.-Israeli objective in this war, including overthrowing the regime in Iran, destroying Iran's ballistic missiles program and its nuclear facilities, and seizing Iran's enriched uranium, has failed," he said.
Atlam said the ongoing conflict seems to be undermining U.S. dominance and straining the close relations with its European allies.
"I think this war has created a kind of doubt about the United States and its foreign policy. The most significant sign is perhaps a clear European desire to reduce its dependence on the U.S., both militarily and economically. This was evident when many European countries refused to get directly involved in this war or join a coalition to secure navigation in the Strait of Hormuz," he said.
Iran's strike reveals military power, resilience against US: experts
