Mercedes CEO urges EU to find equitable solution to China-made EV tariff dispute
Mercedes-Benz CEO
Ola Kallenius
said on Wednesday the German automaker was urging the European Union to find an "equitable solution" to create a level-playing field for
China-made electric vehicles
in Europe.
A pure tariff barrier was the "crudest instrument" that could be applied, he told reporters on the sidelines of the
Shanghai auto show
.
"We need to seek win wins. A conversation about a level playing field in an open market is always legitimate. But a pure tariff barrier is the crudest instrument you can apply," he said.
"We have wished for the EU and negotiators on the Chinese side to come up with an equitable solution and from what I have read and heard, they are in discussions. History tells us that economies exposed to the full force of competition are the most innovative. That is what we would like."
The EU increased tariffs on Chinese-built EVs to as much as 45.3per cent last October, but Brussels and Beijing have floated the idea of lifting the tariffs through possible commitments to minimum prices, known as price undertakings for imported cars.
The European Commission has said it is willing to continue negotiating an alternative to tariffs with China, which included tariffs of 17.0per cent for vehicles made by BYD, 18.8per cent for Geely and 35.3per cent for SAIC, on top of the EU's standard car import duty of 10%.
The discussions to potentially find a truce over the longstanding spat, which has also roiled French cognac makers as Beijing took retaliatory trade action, come as U.S. President Donald Trump has embarked on a trade war with some of the United States' closest trading partners, including the EU and China.
Mercedes on Tuesday ahead of the opening of the Shanghai autoshow unveiled a new all-electric
luxury limousine van
series called "Vision V" with some of the vehicles to be produced in China.
Kallenius said on Wednesday he expected to see momentum build in the upper end of the segment for electric vehicles in the next 2-3 years. Plug-in hybrids would likely continue to co-exist with fully electric offerings, he added, at least until 2030.
Like many other foreign automakers, Mercedes-Benz's sales have dropped in China, hit hard by stiff competition from local rivals and as a sputtering economy saps consumer confidence.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
33 minutes ago
- Economic Times
US Army 250th Anniversary Parade: President Donald Trump's 79th birthday Celebration Cost, Parade Route, Timing, Tickets, How to watch Livestream, Military Preparations, No Kings Protests and Women's March
Why Was June 14 Chosen? Celebration Cost Parade Route and Timing Live Events Military Preparations Tickets and How to Watch Livestream Event Schedule and Locations No Kings Protests and Women's March FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The US Army will hold a public festival and parade in Washington, DC, on June 14 to commemorate its 250th anniversary. The day also falls on President Donald Trump's 79th birthday. The parade and events will take place on the National Mall and surrounding areas. Army officials say this is part of a broader plan to honor the Army's event is scheduled on June 14 because it marks the founding of the Continental Army. On this day in 1775, the Second Continental Congress established the Army to fight British forces. Congress appointed George Washington as commander in chief the following began nearly two years ago, but the parade was added earlier this year. Officials estimate the total cost of the event to be between $25 million and $45 million. Army Secretary Dan Driscoll told Congress that the event is meant to tell the Army's story and improve festival will run from 9:30 a.m. to 6 p.m. on the National Mall. The parade starts at 6:30 p.m., moving from 23rd Street NW to 15th Street NW along Constitution Avenue. The route ends around 7:30 p.m., followed by fireworks at 9:45 Army has placed metal plates along the parade route to protect roads from damage by heavy equipment like Abrams tanks. The tanks are fitted with rubber track pads to reduce impact. If damage occurs, the Army will pay for event will include about 6,600 soldiers, 150 vehicles and 50 aircraft. Historical and modern Army units will march in uniform. Equipment includes Abrams tanks, Bradley vehicles, helicopters and World War-era tanks and parade and festival are free to attend. People can RSVP through Livestream coverage will be available on US Army social media platforms for those who cannot attend in day will also include a wreath-laying at Arlington Cemetery, an enlistment ceremony led by Donald Trump, a parachute jump by the Golden Knights, a concert, and equipment are being organized across the US to oppose what some groups see as a political use of the event. Organizers plan 1,800 rallies nationwide. The 'No Kings' campaign and Women's March will be part of these actions. Officials expect hundreds of thousands at these 14 is the date the Continental Army was created in 1775. Congress formed it after fighting began at Lexington and officials estimate the event will cost between $25 million and $45 million, but they haven't shared exact figures for the parade portion.
Time of India
43 minutes ago
- Time of India
US Army 250th Anniversary Parade: President Donald Trump's 79th birthday Celebration Cost, Parade Route, Timing, Tickets, How to watch Livestream, Military Preparations, No Kings Protests and Women's
The US Army will celebrate its 250th anniversary on June 14 with a large parade and festival in Washington, DC. About 6,600 soldiers, 150 vehicles and over 50 aircraft will participate. The event includes multiple ceremonies, military displays and a fireworks show. Large-scale protests are also expected nationwide. Tired of too many ads? Remove Ads Why Was June 14 Chosen? Celebration Cost Parade Route and Timing Tired of too many ads? Remove Ads Military Preparations Tickets and How to Watch Livestream Event Schedule and Locations No Kings Protests and Women's March FAQs The US Army will hold a public festival and parade in Washington, DC, on June 14 to commemorate its 250th anniversary. The day also falls on President Donald Trump's 79th birthday. The parade and events will take place on the National Mall and surrounding areas. Army officials say this is part of a broader plan to honor the Army's event is scheduled on June 14 because it marks the founding of the Continental Army. On this day in 1775, the Second Continental Congress established the Army to fight British forces. Congress appointed George Washington as commander in chief the following began nearly two years ago, but the parade was added earlier this year. Officials estimate the total cost of the event to be between $25 million and $45 million. Army Secretary Dan Driscoll told Congress that the event is meant to tell the Army's story and improve festival will run from 9:30 a.m. to 6 p.m. on the National Mall. The parade starts at 6:30 p.m., moving from 23rd Street NW to 15th Street NW along Constitution Avenue. The route ends around 7:30 p.m., followed by fireworks at 9:45 Army has placed metal plates along the parade route to protect roads from damage by heavy equipment like Abrams tanks. The tanks are fitted with rubber track pads to reduce impact. If damage occurs, the Army will pay for event will include about 6,600 soldiers, 150 vehicles and 50 aircraft. Historical and modern Army units will march in uniform. Equipment includes Abrams tanks, Bradley vehicles, helicopters and World War-era tanks and parade and festival are free to attend. People can RSVP through Livestream coverage will be available on US Army social media platforms for those who cannot attend in day will also include a wreath-laying at Arlington Cemetery, an enlistment ceremony led by Donald Trump, a parachute jump by the Golden Knights, a concert, and equipment are being organized across the US to oppose what some groups see as a political use of the event. Organizers plan 1,800 rallies nationwide. The 'No Kings' campaign and Women's March will be part of these actions. Officials expect hundreds of thousands at these 14 is the date the Continental Army was created in 1775. Congress formed it after fighting began at Lexington and officials estimate the event will cost between $25 million and $45 million, but they haven't shared exact figures for the parade portion.
Time of India
44 minutes ago
- Time of India
Amazon and Microsoft-backed startup to build Recycling Plant of rare earths in Canada, the 'rare minerals' that analysts say gives China upper hand in trade war with the US
Cyclic Materials , a startup supported by Amazon, Microsoft, and BMW Group, plans to invest $25 million in a rare-earths recycling plant and research center in Ontario, Canada, according to a statement reported by Bloomberg. The facility, set to begin operations in the first quarter of 2026, aims to bolster North America's supply of critical minerals amid rising global demand and China's dominance over rare-earth markets. Cyclic's technology extracts rare earths from end-of-life products like wind turbines, data-center hard drives, and electric vehicle components, addressing supply chain vulnerabilities highlighted by China's export restrictions in retaliation to U.S. tariffs, Bloomberg noted. The company already operates a demonstration facility in Kingston and a processing site in Arizona. What is the rare earth minerals tussle between US and China The rare earth minerals issue between the U.S. and China centers on a trade dispute over critical minerals essential for advanced technologies, including defense systems, electric vehicles, semiconductors, and renewable energy. China mines about 70% of the world's rare earth elements (17 metallic elements with unique properties) and processes over 90%, giving it significant control over global supply chains. They also produce 85% of rare earth magnets used in electric motors and other tech. 'Rare-earth elements are a $20 billion to $30 billion market globally, but they unlock multi-trillion-dollar industries,' Ahmad Ghahreman, CEO of Cyclic Materials, told Bloomberg. 'We are creating a secure, local supply for these critical metals.' The Kingston plant is designed to process 500 metric tons of feedstock annually, producing rare-earth oxides for magnets used in EV motors, wind turbines, and consumer electronics. Feedstock will be sourced from Cyclic's Arizona facility and a network of partners, with output supplied to companies like Solvay SA. The project aligns with Canada's push to become a hub for critical minerals, supported by government incentives and growing interest from automakers and tech giants. Cyclic's initiative could reduce reliance on Chinese rare earths, which account for over 80% of global supply, per Bloomberg. The research center will also develop advanced recycling techniques, positioning Cyclic to meet surging demand for sustainable mineral sources in industries critical to the green energy transition.
