China warns of ‘negative impact’ of European Union investigation

The day after the announcement by the President of the European Commission, Ursula von der Leyen, of the opening of an investigation into Chinese public subsidies for electric automobiles by the European Union (EU), China is retaliating. Beijing warned on Thursday, September 14, against” negative impact “ what this survey will have on the European economy.

This measure “taken in the name of “fair competition”” East “openly protectionism” and she “will have a negative impact on economic and trade relations between China and the European Union”castigated the Chinese Ministry of Commerce in a press release.

Ursula von der Leyen defended the opening of an investigation on Wednesday in order to defend European industry in the face of “artificially low price” of Chinese electric vehicles, denouncing unfair competition.

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European companies “are often beaten on price by competitors benefiting from enormous public subsidies. We have not forgotten how much our solar industry has suffered from China’s unfair trade practices.”she said during her State of the Union address.

France, which is trying to reindustrialize the automobile sector and is investing in electrical manufacturing, has been pushing in recent months for the EU to ert itself more in the face of practices deemed protectionist by China. Other member countries which rely more on international trade, such as Germany, however fear offending Beijing.

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China has long invested in electric motors in automobiles and has taken a lead over Europe, particularly in battery technologies. Its manufacturers rely on their immense domestic market, the first in the world, to now conquer Europe thanks to the strong economies of scale from which they benefit.

The World with AFP

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