Key insights
- China is pressuring Mercedes-Benz and Airbus to lobby the EU to ease trade restrictions, claiming they harm China-EU economic ties. This could lead to increased trade tensions if the EU doesn't comply, potentially impacting global supply chains and market sentiment, albeit with a limited direct impact on US equities.
Investing.com -- China’s Commerce Minister Wang Wentao called on Mercedes-Benz and Airbus to encourage the European Union to revise trade restrictions during separate meetings on Friday, according to a government statement.
Wang told Ola Kaellenius, Mercedes-Benz Group chairman and head of the European Automobile Manufacturers’ Association, that China hopes the automaker and Europe’s auto industry will speak out to urge the EU to revise improper rules.
The minister said EU trade restrictions with protectionist features have harmed China-EU economic ties.
In a separate meeting, Wang told Airbus CEO Guillaume Faury that China hopes the aircraft manufacturer will pursue broader growth through win-win cooperation.
Wang called on Airbus to play a constructive role in encouraging the EU to resolve differences via dialogue and consultation.
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