BMW (BMW) Urges German Opposition to EU Tariffs on Chinese EVs

BMW has joined other German automakers in urging the German government to oppose the EU's proposed tariffs on Chinese electric vehicles. BMW CEO Oliver Zipse stated that imposing tariffs would harm globally operating businesses and potentially ignite a trade conflict that benefits no one. He emphasized that the German government should take a clear stance.

EU member states are set to vote on whether to impose final tariffs of up to 45% on electric vehicle imports from China. To block the measure, 15 member countries representing 65% of the EU's population must vote against it.

German officials have indicated that the government plans to abstain rather than oppose the measure, with several other EU countries expected to follow suit. Germany has expressed a desire for the EU and China to reach a negotiated solution.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.