How Are Proposed EU Tariffs Impacting Trade Relations with China?
Sectors & Industries
China has warned the EU about a potential trade war over electric vehicle tariffs as Germany's economy minister visited Beijing.
Amid rising tensions, German exports to China fell while U.S. exports rose.
The proposed EU tariffs and China’s countermeasures have strained trade relations, impacting the German automotive industry and highlighting the need for strategic adjustments.
Trade experts say economic and political factors all increasingly favor the U.S.-German relationship.
Germany's 60 billion euros ($64 billion) of trade with China in the first quarter of 2024 was less than the 63-billion-euro total volume of U.S.-German trade. That snapped a trend that has ranked China as Germany's top trading partner for eight years in a row.
Official figures released on Friday underlined the shift: German exports to China fell 14% in May from a year ago while exports to the United States rose 4.1%.
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