Tariff race is 'wrong' and will push up prices, says German economy minister
08/07/2024 14:00
STUTTGART, July 8 (Reuters) - Germany's economy minister
Robert Habeck criticised tariffs as damaging to the economy and
consumers, days after the European Commission proposed tariffs
of up to 37.9% on China-made EVs despite heavy protest from the
European car industry.
"A race via tariffs to protect and cut off economic areas
again is wrong," Habeck said, speaking at the inauguration of a
battery development centre at the Mercedes-Benz headquarters on
what it will take to build up competitive green industry in
Europe.
"Wrong for an export nation like Germany, wrong for an
automotive export nation like Germany, but ultimately also wrong
for consumers and for people ... everything will become more
expensive," he added.
(Reporting by Victoria Waldersee, Editing by Friederike Heine)
((Victoria.Waldersee@thomsonreuters.com;))