German Chancellor Olaf Scholz has urged the European Union (EU) to quickly resolve its tariff dispute with China over electric vehicles (EVs). He emphasized the need for productive negotiations, stating that conflicts are unhelpful. China also expressed willingness to settle trade frictions through dialogue and called for progress on a price commitment plan for Chinese EVs.
Scholz further called on the EU Commission to relax financial penalties for automakers failing to meet stricter CO2 emission targets set for 2025. He argued that such penalties would strain automakers’ finances at a time when they need to invest in electric mobility and modern vehicles.
The European Green Deal aims for climate neutrality by 2050, including a 90% reduction in transport emissions. Automakers exceeding 2025 limits could face fines totaling €15 billion, with Volkswagen particularly vulnerable.
Source – CGTN
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