World: Europe Provokes The Wrath Of Beijing, Key Sectors Threatened!

The escalation of trade tensions between the European Union and China regarding tariffs on electric vehicles threatens to shake the global economy. While Brussels has voted in favor of these measures, Beijing is preparing its response, casting the shadow of targeted reprisals on the European countries most supportive of this decision.

European supporters of tariffs in the crosshairs

The recent decision of the EU to impose tariffs on Chinese electric vehicles has sent shockwaves through the international business world. Among the 27 member states, 10 voted for, 5 against, and 12 abstained.

China, quick to react, has already threatened targeted reprisals, notably on European brandy, pork, and dairy products.

The European automotive industry, particularly German, finds itself in a delicate position. Although Germany voted against these tariffs, luxury brands like Audi, Porsche, or Lamborghini could be the first victims of a Chinese backlash.

Oliver Blume, CEO of Volkswagen, has also expressed his concerns about the potential impact on the German automotive industry.

European sectors vulnerable to China’s reaction

China has a wide range of options for retaliation, targeting key sectors of the European economy. The pork industry, already under an anti-dumping investigation, could be the first victim. Spain, Denmark, and the Netherlands, main suppliers to the EU, risk suffering the heaviest consequences.

The dairy sector is not spared, with the Netherlands, France, and Ireland particularly exposed.

Faced with this tense situation, the EU and China continue to negotiate, notably exploring the possibility of a mechanism to control prices and export volumes as an alternative to tariffs.

However, experts remain pessimistic about the outcome of these talks. Henry Gao, a professor at Singapore Management University, believes that “the likelihood of reaching an agreement is quite low” and does not rule out a strong reaction from China if the negotiations fail.

This trade conflict between the EU and China will undoubtedly have repercussions far beyond their borders, affecting the global economy as a whole.

Fenelon L.

Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.

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