Frankfurt, Germany - Recent

Storyline:
Imposing provisional tariffs on imports of Chinese EVs will do no good to the development of European economy, according to a German expert.

The European Commission announced on Thursday its decision to impose provisional countervailing duties, ranging from 17.4 percent to 37.6 percent, on imports of battery electric vehicles from China starting Friday.

This has triggered wide opposition from many officials, industrial associations as well as auto enterprises.

In an interview with China Central Television (CCTV), Horst Lochel, professor of Frankfurt School of Finance and Management, believed that such tariff imposition is not good for Europe's economic development.

He then pointed out that experts from German political, business and educational circles reckon that enhancing competitiveness is the right way for mutual benefit.

Shotlist:
Frankfurt, Germany - Recent:
1. Various of building in Frankfurt School of Finance and Management;
2. Sign reading "Frankfurt School of Finance and Management";
3. SOUNDBITE (English) Horst Lochel, professor, Frankfurt School of Finance and Management (partially overlaid with shots 4-5):
"We struggle here with the economic development. We are also struggling still with inflation. So if the prices are rising, we have even again higher inflation. So I don't think this is really a good development for the European economy overall. If China reacts also with higher tariffs on European products, then, of course, the prices for the Chinese people will also rise. That means the demand is declining. That means we have less production and less exports to China, which is also then challenging the profit of the companies.";
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FILE: Yuyao City, Zhejiang Province, east China - Oct 23, 2022
4. Various of assembly line of new energy vehicles (NEVs) in operation, workers working;
FILE: Chongqing Municipality, southwest China - May, 2024
5. Various of complete cars in factory
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Frankfurt, Germany - Recent
6. Various of students, staff walking in corridor;
7. SOUNDBITE (English) Horst Lochel, professor, Frankfurt School of Finance and Management (partially overlaid with shot 8):
"Because we're already heavily invested in China, made a lot of joint venture with Chinese companies, and if we perhaps see also some investment of Chinese EV car companies here in Europe and Germany would be also fine. So the best way is to increase competitiveness. This is the sense of the market economy. If you are under pressure, you have to increase your competitiveness to get on the same level playing fields as your competitor. I think this is the most important thing to have a mutual beneficial trade.";
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FILE: Guangdong Province, south China - 2024
8. Aerial shots of parked new vehicles;
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FILE: Lianyungang City, Jiangsu Province, east China - April 25, 2024
9. Aerial shot of port, electric vehicles (EVs) for export;
10. EVs boarding cargo ship.

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