Viktor Orban Sounds Alarm on EU-China Trade Tensions

Hungarian Prime Minister Viktor Orban warns of an impending 'economic cold war' with China as the EU considers tariffs on Chinese electric vehicles. With the key vote looming, Orban emphasizes Hungary's desire for economic neutrality amidst the growing trade tensions between the EU and China.

Hungarian Prime Minister Viktor Orban has issued a stark warning about the European Union's potential trade conflict with China, as leaders are set to vote on tariffs for Chinese electric cars.

The proposed EU tariffs, which could be as high as 45% for the next five years, focus on imports of Chinese-made electric vehicles. This significant trade case risks provoking retaliation from Beijing. Germany, being the EU's largest economy and Hungary's main trading partner, is expected to vote against these tariffs, sources informed Reuters.

Orban, in his state radio interview, criticized the potential strategy, describing it as an "economic cold war." He stressed Hungary's position of wanting to maintain trading relationships with both global blocs and questioned the feasibility of the EU's economic strategy.

(With inputs from agencies.)