BMW CEO Sees Manageable EU-US Car Tariff Deal with Netting Mechanism as 30% U.S. Tariffs Loom; China Chamber Raises EV Tariff Concerns

BMW Chief Executive Officer Oliver Zipse expressed optimism that the European Union and the United States will soon reach a "manageable" agreement on car import tariffs. The potential deal may include a netting mechanism to offset imports with exports, which could help mitigate the impact of tariffs on prices and production for consumers. However, despite these hopes, the U.S. administration confirmed that a 30% tariff on European auto imports will take effect on August 1, 2025. Meanwhile, the China Chamber of Commerce engaged in discussions with the EU Auto Group, emphasizing that the EU's tariffs on Chinese electric vehicles contradict climate goals and called for fair market access for Chinese EV companies in Europe. The Chamber also voiced concerns about rising EU policy risks for foreign companies and investments, highlighting the potential spillover effects of global trade tensions on EU policy direction. Both sides anticipate positive outcomes from ongoing China-EU automotive discussions.