BMW CFO Walter Mertl warns against the introduction of punitive tariffs on Chinese vehicles in the EU and fears countermeasures in the People’s Republic. These would probably have a greater impact than the punitive tariffs themselves, Mertl said on Friday. “This will affect everyone who does business in China.”
History shows that it is often not just unilateral tariffs, but that there are often counter-reactions that have a much greater impact. Only companies that do not do business in the other country are protected. “But for all the rest, the backlash can be like a boomerang bigger than what was originally imagined.” The EU Commission sees the domestic car industry at risk from cheap electric cars from China and is therefore examining anti-dumping tariffs. The investigation is expected to take a good year. The government in Beijing criticized this step harshly. The German Chamber of Industry and Commerce (DIHK) expressed concern about a trade war. For BMW and the other German car manufacturers, China is now the most important single market.