German economy minister's China trip features low-key business delegation amid EV clash
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 18 2024
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Source: reuters
- German Delegation to China: German renewables firm Enpal and metal processing group Schoder will join Economy Minister Robert Habeck's trip to China amid tensions over EV tariffs.
- Delegation Composition: The delegation includes companies like Voss, Sartorius, Enpal, and Schoder, with no German carmakers participating in this trip.
- Trade Tensions: The visit comes as the European Commission proposed tariffs on electric vehicle imports from China, impacting economic relations between Europe and China.
- Impact on German Carmakers: Potential counter-tariffs could harm German carmakers like Volkswagen, Porsche, Mercedes-Benz, and BMW, which heavily rely on the Chinese market.
- Previous Trips: Earlier trips by Chancellor Olaf Scholz included large cap firms like Mercedes-Benz, BMW, BASF, Bayer, and Merck, highlighting the importance of economic ties between Germany and China.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
