Bankinter | The EU confirms the imposition of tariffs of up to 45% on imports of electric vehicles from China. The proposal was approved at the beginning of October with the favourable vote of 10 members (France and Italy, among them), the opposition of 5 (Germany being the most notable) and the abstention of 12 (Spain, for example). This decision allows the European Commission to implement the tariffs for a…
Alicia García Herrero (Natixis) | The tone of European Union-China relations changed radically in 2019. The EU moved beyond engagement to competition and even rivalry. China has become Europe’s largest competitor in third markets and increasingly even in the EU single market. This aggressive competition is the result of a complicated mix of China’s greater competitiveness, massive Chinese industrial policy underpinned by subsidies, and the Chinese market not offering sufficient…
Banca March | Following the arrival in power of Labour’s Keir Starmer, the EU is once again demanding that the United Kingdom fully implement the Brexit agreement for Northern Ireland, as well as respecting the rights of EU citizens with a view to improving relations with its European partners. Thus, the EU’s list of demands to the UK includes the implementation of the agreement designed for Northern Ireland – permanence…
Link Securities | The European Automobile Manufacturers Association (ACEA) yesterday reported that European Union (EU) passenger car registrations rose 13.7% year-on-year in April (-5.2% in March) to 914,000 units, driven by solid increases in all major markets. Sales in most EU markets recorded gains, including Spain (23.1%), Germany (19.8%), France (10.9%) and Italy (7.7%). In turn, electric car registrations in the EU grew by 14.8% to 108,500 units and their…
Alicia García Herrero (Natixis) | President Xi Jinping’s European tour, his first in five years, has shown how much EU member states, at least those in the core of Europe, need a reality check. Not only has Xi taken quite some time to visit the continent but in doing so he chose to visit his staunchest European allies, Serbia and Hungary, beyond France. President Emmanuel Macron was an important target…
Banca March : Charles Michael, the current President of the Council, is standing as a candidate in the European Parliament elections in June. If elected, he would have to resign before being sworn in as an MEP on 16 July, bringing his term of office to an end more than four months early. If no replacement were to be found, the Hungarian prime minister would be able to act as…
Banca March : The European Union adds steel manufacturers to its list of anti-subsidy investigations into Chinese products. On 4 October, the EU began this process on electric vehicles from China; three days ago, it considered the study on windmills; and since yesterday, on steel mills. Washington has asked to create a common front with the European bloc, which would implement greater scrutiny on China, in exchange for avoiding the…
Banca March: The European Union’s legislative chamber has finally approved the European Chip Law, with which the EU aims to double semiconductor production to 20% of its global production and thus reduce the trend of Taiwan and South Korea with respect to this technological component. The law is organised in three pillars and aims, in addition to increasing Europe’s chip manufacturing capacity, to consolidate its leadership in semiconductor research and…
Banca March: The European Union is about to confirm that it is raising its renewable energy consumption target from 22% to 42.5% by 2030, a commitment that is expected to boost investment in clean generation sources. The agreement, which updates the current legal target of 32%, is based on a political negotiation concluded in the spring and although it is not yet final, as it will also have to be…
Banca March : According to press reports, a provisional draft is circulating that suggests Brussels is backtracking on plans to ban asset managers and insurers from paying financial advisers for recommending their investment products. The aim of the ban was, according to Brussels, to eliminate any conflict of interest and to improve the outcome for the end-investor but it now appears that the measure will not be implemented, limiting the…