The decision taken by the European Commission on maintain tariffs on Chinese electric cars This will have unintended consequences. This can greatly affect the pig sector in Spain, but there may be third country beneficiaries.
“There are European companies which are relocated to China and therefore are affected by these prices“, explained Javier Santacruz, economist and financial analyst at Sexta Noticias.
Although the mantra is clear, the data tells us that some countries could benefit from it. “The greatest beneficiary is probably the one who is not in this contest that the United States is“, detailed Santacruz, who believes that “we have already seen it between 2016 and 2020 between China and the United States”. “In this case it was the European Union and now it will be the opposite” , added the expert.
At that time, the former American president Donald Trump increase in tariffs on Chinese photovoltaic panels and devices. This benefited Vietnam and Mexico, which saw sales growth in the United States. In the European case, China is the main partner in the automotive sector and renewable energiesbut it will also harm other sectors like pork.
“The pig sector is an impact that we have already calculated a few months ago at 1,000 million euros” Santacruz reminded, because so far this year we have already exported more than 250,000 tons of pork to China.
