E-Cars: Fight against the China shock - EU plans anti-China alliance for the automotive industry
The EU wants to exclude China from subsidies, along with Japan, Korea, and Great Britain. New punitive tariffs are also reportedly being prepared, according to information from the Handelsblatt.
The EU Commission is working on a new economic alliance with the UK, Japan, and South Korea to shield their auto industries from Chinese overcapacity. The partnership aims to keep markets open among the four partners, coordinate subsidies, and collaborate on critical raw materials to reduce dependence on China. The EU is also developing a new protection instrument against Chinese hybrid cars, similar to EU steel tariffs, that would spare traditional trading partners.
The goal is to protect European, British, Japanese, and Korean industries from China's export surge without restricting trade among themselves. The alliance could be expanded to other countries, such as Canada and Australia, with which the EU has free trade agreements.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
