The EU has imposed tariffs of up to 38% on imported Chinese cars. German car manufacturers are now worried about retaliation:
As for the EU this shows a fault in the EU. In an attempt to protect all members they risk seriously damaging a single member’s economy - apparently German car sales to China account for 30% of their car companies bottom line.
This guy read my posts yesterday! Fiat and Renault have pulled out of China, and Peugeot sells ten times as many cars in the EU as in China. But BMW, Audi and Mercedes sell as many cars in China as in the EU, and VW sells twice as many cars in China as in the EU. The German automakers would be slaughtered if they lost their Chinese profits.
Steve
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