Volkswagen Opposes Proposed EU Tariffs on Chinese Electric Vehicles

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Oct 02, 2024

Germany's largest automaker, Volkswagen, has voiced its opposition to proposed tariffs on Chinese electric vehicles (EVs). A company spokesperson stated that the tariffs are a misguided approach and called for Germany to vote against the European Union's plan to implement them. Volkswagen believes such tariffs will not enhance the competitiveness of the automotive industry.

According to sources cited by Reuters, France, Greece, Italy, and Poland are expected to vote in favor of imposing tariffs up to 45% on Chinese-made EVs. This support is likely sufficient for the EU proposal to pass, potentially escalating trade tensions with China.

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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.