The boss of Mercedes-Benz wants the European Union to cut tariffs on Chinese electric cars, which he argues will force European companies to make better vehicles.
In an interview with the Financial Times published on Tuesday, Ola Källenius rallied against protectionism and said lawmakers in Brussels should reduce, not raise, duties on Chinese EV makers such as BYD.
Chinese cars face 10% tariffs in Europe, which is lower than the 15% levy imposed on European cars sold in China.
“Don’t raise tariffs,” he told the FT. “I’m a contrarian, I think go the other way around: take the tariffs that we have and reduce them … that is the market economy. Let competition play out.”
“It has been opening up markets that has led to wealth growth, especially in the economic wonder of China, that has lifted hundreds of millions of people out of poverty,” Källenius added. “If we believe protectionism is the thing that gives us long-term success, I believe history tells us that is not the case.”
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