Mercedes CEO considers protectionism against China destructive for the European economy

Mercedes warns European Union politicians against protectionism in response to China's actions. According to UNN, this was said by the company's CEO Ola Kaellenius, quoted by Reuters.

Details

Any move by the European Union to increase protectionism against China would be devastating for an economic region like Europe, said Mercedes-Benz CEO Ola Kaellenius.

He made this statement immediately after the automaker published its quarterly results.

Recall

Earlier trade protectionist measures taken by the US and EU were criticized in China. Chinese Foreign Ministry spokesperson Mao Ning said that they would negatively affect their own long-term development and hinder progress and prosperity around the world. The United States is reportedly considering restricting imports of Chinese smart cars and their components through the use of non-tariff regulation. The European Union, for its part, has launched an anti-subsidy investigation into the import of electric vehicles from China.