The European Union is investigating China’s subsidies for electric vehicles that impact by lowering the price of such vehicles in the EU.
China hit back within hours, it will extend anti-subsidy duties on potato starch imports from the European Union for the next five years from Saturday. This tariff was first levied in 2011 and was extended in 2017.
China's vehicle exports are surging:
- In H1 of 2023 Chinese auto exports were up 75.7% y/y
- Will there be anything left of the German economy?
