On the precipice of an all-out trade war with the European Union, China is panicking and dangling perks for German carmakers to try to bring things back from the brink.
The world’s second-biggest economy proposed lowering its existing 15% tariff on imported large engine vehicles from EU countries in an effort to convince Germany to get the EU to scrap tariffs announced last week of up to 38.1% on Chinese EVs, Bloomberg reported, citing people familiar with the discussions.
