Hungary's prime minister says the European Union risks entering an “economic cold war” with China, and is pledging to vote against an EU plan to impose higher tariffs on the import of Chinese electric vehicles.

Hungarian Prime Minister Viktor Orban warned on Friday that the European Union was headed for an "economic cold war" with China as the bloc's leaders prepared for a pivotal vote on imposing tariffs on imports of Chinese-made electric cars (EVs).

The European Union is headed into an “economic cold war” if it opts to approve additional tariffs on Chinese electric vehicles, according to Prime Minister Viktor Orban.

The E.U. first announced that it would slap higher tariffs on Chinese electric vehicle imports in June, on the grounds that they benefit “heavily from unfair subsidies” and po

On October 4, 2024, the European Union officially voted to increase tariff rates on electric cars imported from China. However, not all countries agreed on this issue. The issue of tariffs on electric vehicles from China significantly divided European politicians.

On October 4, 2024, the European Union officially voted to increase tariff rates on electric cars imported from China. However, not all countries were in agreement on this issue. The issue of tariffs on electric vehicles from China significantly divided European politicians.

German carmakers on Saturday warned that consumers could face higher prices after the European Union paved the way for punitive tariffs on Chinese electric vehicles. Friday's decision could significantly damage Germany's automotive industry,