Chinese President Xi Jinping seems to have Hungarian Prime Minister Viktor Orban on retainer as his European Union political prostitute. (Orban has even fooled a gullible former President Donald Trump into thinking he’s America’s friend.) Xi has also bought the support of Spanish Prime Minister Pedro Sanchez and German Chancellor Olaf Scholz. Unfortunately for communist China, though, the EU has now imposed tariffs to address Chinese dumping into its market.
The tariffs focus on Chinese electric vehicle manufacturers and will be imposed at rates between 17% and 35.3%, depending on the manufacturer. These rates were finalized Wednesday after the EU-China negotiations, which had been underway since July, failed to reach a compromise. The EU action is necessary because Chinese EV manufacturers are very heavily subsidized by the Chinese government.
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