VDA President regarding EU-China Summit

"The EU-China summit is particularly important in light of the trade and geopolitical challenges. The EU and China share a responsibility to strengthen the WTO-supported international trade order and accelerate the transformation to climate-neutral and digital mobility. The exchange must also be used to discuss contentious issues and find solutions as quickly as possible:

For the German automotive industry, faster approval of exports of rare earths and permanent magnets is particularly important at the moment. Companies need planning security to ensure stable supply chains and smooth production.

Furthermore, a negotiated solution must be reached quickly regarding the EU countervailing tariffs on electric cars produced in China. The tariffs, which particularly affect German manufacturers, have been and remain wrong tools. They are not suitable for strengthening the competitiveness of the European automotive industry. Rather, the European Union must improve its own locational conditions. However, it is also up to China to approach Europe with constructive proposals and to consistently and quickly put a stop to anti-competitive behavior.

In general, the current trade and geopolitical differences must not obscure the fact that economic relations between the EU and China have been mutually beneficial over the past five decades. Economic relations with China have created growth, prosperity, and added value, particularly in Germany, but also in Europe as a whole. It is now all the more crucial to resolve conflicts and continue to work together successfully with joint, constructive approaches to solutions."