Spain’s Rejection of EU Tariffs on Chinese EVs and Its Implications
China sanctions 10 individuals and 4 entities in EU
Ten individuals sanctioned by the Chinese government include Reinhard Bütikofer, chair of the European Parliament’s delegation for relations with China, and Michael Gahler, chair of European Parliament-Taiwan Friendship Group, in addition to some members of the European Parliament affiliated with the parliaments of EU member countries such as Germany, Belgium, Lithuania and the Netherlands.
German scholar Adrian Zenz, an infamous anti-China pseudo-researcher who has been spreading rumors about Xinjiang and stepping up a disinformation campaign against China, The Political and Security Committee of the Council of the European Union, Subcommittee on Human Rights of the European Parliament, the Mercator Institute for China Studies in Germany, and the Alliance of Democracies Foundation in Denmark have also been sanctioned by the Chinese government.
China EU’s No.1 trading partner
China surpassed the US becoming the EU’s No.1 trading partner in 2020, the EU statistics agency Eurostat said on Monday. This was due to an increase in imports (+5.6%) and exports (+2.2%) with China. With the EU-China CAI making progress while the future of transatlantic trade remains unclear.
China-EU bilateral investment treaty BIT
12-30-20 China-EU bilateral investment treaty BIT is a comprehensive, balanced and high-level deal marked by concrete rules and institutional openness, China’s Ministry of Commerce said at a briefing after the two sides announced Wed they had completed BIT negotiations on schedule.
Largest trade partner of the EU
China replacing the US to become largest trade partner of the EU in Q3 is good news for both China and the EU, reflecting resilience and potential bilateral economic and trade relationship.
Tesla exports Made-in-China Model 3 to Europe
The Made-in-China model 3 vehicles are ready to leave the port in Shanghai next Tuesday to be exported to Germany, France, Italy and other European countries, although CEO Elon Musk said the company did not plan to export when building its Gigafactory in Shanghai.
In the near future, Tesla hopes the Made-in-China vehicles can benefit global consumers not only through China manufacturing but China design, research and development, Song Gang, manufacturing and operations head of Tesla’s Gigafactory in Shanghai said, according to media reports on Monday.
Auto analysts tied the reason for exports to robust capacity at the Shanghai factory, competitive costs of “Made-in-China” products, and the complete supply chain in the Chinese auto sector.
Tesla is not alone. BMW and Polestar are making electric vehicles (EVs) in China and selling them to Europe.
China overtakes US as EU’s largest trading partner
According to data released by Eurostat on Sept. 16. In the first seven months of 2020, China overtook the US as the EU for the first time as largest trading partner: From January to July, year-on-year imports from China increased by 4.9% , while imports from the U.S. decreased by 11.7% .
EU’s exports to China fell by 1.8%, while exports to the U.S. fell by 9.9%.
China remains the EU’s top source of imports, third largest exporter of goods
The share of the market position was 21.9% and 10.3%, respectively.
The EU is now sticking together in the dispute over Nord Stream 2
24 EU member states turn to the US government with a protest note. They criticize the US interference in the construction of the Nord Stream 2 pipeline in the Baltic Sea.
The European Union delegation sent a “note of protest” to the United States State Department during the videoconference, but the report does not mention the level of the protest or which three countries refused to join the protest. European diplomatic sources said, “We can confirm that the EU Delegation took diplomatic action against the US sanctions policy at a meeting with the US State Department on August 12, which was held in video format with the participation of 24 member states.”
In terms of content, the protest note reiterates the statement made by EU High Representative for Foreign Affairs and Security Policy Borrelli on 17 July about the sanctions imposed by the United States against European companies, including those involved in the Nord Stream-2 and Turkey Creek projects. The EU is deeply concerned by the increasing frequency of such sanctions. EU countries consider the extraterritorial sanctions to be a violation of international law. On 11 August, German Foreign Minister Heiko Maas expressed his disagreement with the extraterritorial restrictions imposed by the United States on the Nord Stream-2 project, noting that decisions on European energy policy were made jointly by European countries and in Brussels. EU can decide independently where to buy energy.
However, Estonian Foreign Minister Urmas Reinsalu said in a media interview that the US plan to impose sanctions on European companies involved in the Nord Stream-2 project is in Estonia’s interests. He noted that there is no consensus within the European countries on the construction of the gas pipeline, but Estonia agrees with the initiative taken by the United States. He added that he understood the logic of the United States. On August 5, several U.S. senators ( Ted Cruz of Texas, Tom Cotton of Arkansas, and Ron Johnson of Wisconsin ) demanded that
Faehrhafen Sassnitz , the German operator of Port Mukran on the island of Rügen,
(the logistical hub for the completion of the pipeline) stops supporting the construction of the Nord Stream-2 pipeline, otherwise the United States will financially “destroy” the company. They threatened Port Mukran with “crushing” economic and legal sanctions if it continued to allow ships to be equipped for the pipeline project.
“The Nord Stream-2 project plans to build a gas pipeline with an annual capacity of 55 billion cubic meters from the Russian coast across the Baltic Sea to Germany, supplying gas directly to Europe. Most EU countries support the project and are involved in its implementation. The United States, the Baltic States, Ukraine and Poland oppose it. Ukraine and Poland insist that the Baltic Sea pipeline will mean they lose out on billions in transit fees from the pipelines that run through their countries.
China and EU to speed up negotiation on investment agreement
China and the European Union will accelerate negotiations in order to conclude a China-EU investment agreement by the end of this year, Chinese Vice Premier Liu He said on Tuesday.
China and the EU will also continue to strengthen macro economic policy adjustments and implement effective fiscal and monetary policies to push forward global economic recovery, Liu said in a statement published by China’s ministry of commerce.
Liu was speaking after an online meeting with European Commission executive vice president Valdis Dombrovskis.
On fighting the coronavirus pandemic, which has killed more than 650,000 people around the globe, China and the EU will work on virus prevention, vaccine development and exchanges of professionals through further bilateral cooperation, the statement said.
China and EU will further expand trade in agricultural products, the statement said.
China and EU lead the way, leaving United States behind. Reform WTO, WHO. Dedollarization.