Hungary Prime Minister Viktor Orban said that the introduction of duties on Chinese electric vehicles can lead to an "economic cold war" between the European Union and China. According to Bloomberg, this statement was made on the eve of the vote of the EU Member States for possible introduction of duties of up to 45% on Chinese electric vehicles, which can exacerbate tense relations with Beijing.
Orban noted that additional duties are a "huge threat" to Hungary, as the country depends significantly on the export of German electric vehicles that Chinese batteries use. He stressed that the Hungarian government worked on the concept of "economic neutrality" for two days, the purpose of which is to preserve strong economic ties with such Eastern economies as China.
Victor Orban noted that these connections are planned to be preserved, even if the world economy is "blocked". These comments shed light on Hungary's strategy to maintain economic stability in the face of increasing international tension.
