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China urges EU to resolve EV anti-subsidy case and send positive signal amid uncertainty
Trade wars will result in ‘lose-lose situation’, Commerce Minister Wang Wentao tells BMW chairman ahead of China Development Forum
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Frank Chenin Shanghai
Beijing has urged the European Union (EU) to become a pillar of the multilateral trade system by resolving its anti-subsidy case targeting Chinese electric vehicles (EVs) amid global economic uncertainty stemming from US tariff policies.
On Saturday, Commerce Minister Wang Wentao said it was important to properly resolve the dispute to send a clear and positive signal to the world, given a complex international situation marked by unilateralism and protectionism.
He made the comments while meeting BMW Group chairman Oliver Zipse in Beijing ahead of the China Development Forum. The two-day forum from Sunday will be attended by more than 80 executives of global multinational companies and top Chinese officials.
“History has proved many times that tariff wars and trade wars can only result in a lose-lose situation,” Wang told Zipse.
Wang said both China and the EU could inject certainty and stability into the world despite the complex and severe situation. He added that he hoped BMW would continue to play an active role to encourage Brussels to reach a solution acceptable to both sides as soon as possible.
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The EU raised tariffs on China-made EVs to as much as 45 per cent at the end of October after an anti-subsidy investigation.
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