Hungary rejects EU’s punitive tariffs on Chinese EVs
Minister of Foreign Affairs and Trade PΓ©ter SzijjΓ‘rtΓ³ said in New York late Monday that Hungary opposes the European Union’s punitive tariffs on Chinese electric vehicles.
Earlier, SzijjΓ‘rtΓ³ met with his Chinese counterpart, Wang Yi, to discuss the implementation of agreements signed in May, during a visit to Hungary by Chinese President Xi Jinping, the development of ties between Europe and China, and political steps on the global stage in the interest of peace, the Ministry of Foreign Affairs and Trade said.
“Hungary is a good example of the big economic benefits a civilised East-West cooperation can bring,” SzijjΓ‘rtΓ³ said, pointing to business partnerships between Western European and Chinese automotive industry companies to advance electromobility.
He said that the EU’s competitiveness could improve “dramatically” if it cooperated with China instead of “creating confrontation.”
In that context, levying punitive tariffs on Chinese EVs is “a very bad idea,” he said, adding that European automotive industry companies are “protesting the measure tooth and nail.”
“Hungary is against the tariffs and will vote against them. And we hope that in the coming years, a civilised, sensible economic cooperation based on mutual respect can be established with China,” he said.
Hungary “greatly appreciates” the Chinese-Brazilian peace initiative, SzijjΓ‘rtΓ³ said. He added that Hungary would continue cooperating closely with China to promote global pro-peace efforts.
Read also:
- VSquare: Hungary acts as middleman for Chinaβs EUR 500 million loan to OrbΓ‘nβs Balkan allies
- Audi unveils the CUPRA Terramar: new model to be manufactured in Hungary
Mr. SzijjΓ‘rtΓ³ really needs to speak with Mr. TrumpΒ΄s team – their BFF does not appear to have received the “China Good” message and is actually advocating for more (not less) tariffs in the world. All except for on Hungarian origin product, perhaps?
Hungary should be standing in solidarity with German automotive manufacturers on whom so many Hungarian jobs depend. To this day they represent a much bigger slice of the industrial landscape than all the Chinese battery manufacturers put together, even when the BYD plant in Szeged comes online. Chinese growth in the EU will be to the detriment of the incumbent automakers in Europe, the profits will flow back to China and Hungary’s role will be no more than an assembly plant, screwing together kits that arrive from China with little European content. German automotive makers presently perform a lot of high value added R&D in Hungary and source a great deal of the necessary components in the region whereas China is sufficiently enormous to not require any Hungarians minds, their products will be fully developed in China and they’ll be merely assembled in Hungary like a Lego set, taking advantage of Hungary’s EU location to then export to the rest of the continent tariff free. I could understand a country like Bulgaria with little manufacturing and next to know automotive industry chasing Chinese automakers, but with the Germans having such a sizeable (and growing) presence in Hungary, it feels counterproductive to encourage the Chinese to grow there. They’ll also rob precious manpower from German facilities at a time when Hungary has a chronic, near permanent labour shortage.
Forget your “Eastern Opening” for EVs Szijjarto and the rest of the Fidesz corrupt bandits. There is no way Europe is ever going to let China take over its’ automotive market with heavily state subsizidized EVs. It would be economic suicide for Germany, France and Italy. The Hungarian government is completely delusional with its’ plans.