TECH - Xi Jinping's Representative Slams EU For 'Unfair' Probe Into EV Subsidies: 'Mostly Targeted At China' | Benzinga
In a recent development, China has criticized the European Union’s (EU) investigation into Chinese electric vehicle (EV) manufacturers over state subsidies, warning that the probe could strain trade relations.
What Happened: Xi Jinping‘s representative to the EU, Fu Cong, has labeled the EU’s investigation into Chinese EV manufacturers as “unfair,” Bloomberg reported. He cautioned that the EU’s actions could lead to further trade investigations into European products.
Fu Cong highlighted the EU’s subsidies to its own companies and suggested that if China adopted a similar approach, it could trigger numerous investigations. Despite this, China is cooperating with the EU’s probe to avoid resorting to trade measures against each other.
Fu said the measures are "mostly targeted at China."
"Everything seems to be harming the EU's security."
"But the question is, where do you draw the line and where are the boundaries and how do you strike a proper balance between economy and the security?" he said.
Trade tensions have been escalating since the EU initiated its EV investigation, and China, in response, launched an anti-dumping probe into brandy sales. The EU is set to unveil a series ...