"Protectionism is not the solution," Nagy said in a statement issued by his ministry. "Instead of limiting competition among manufacturers with punitive tariffs, support and assistance to strengthen the global competitiveness of the European EV industry is necessary," he added.
Nagy noted that the punitive tariffs announced on Wednesday would add another 17.4%-38.1% to the existing 10% import duty on EVs manufactured in China. He added that the measure discriminated both against China and against specific manufacturers in an "unprecedented" manner.
Nagy said that the punitive tariffs were not supported by the European Round Table for Industry (ERT), a position ERT leaders had affirmed at a meeting with Prime Minister Viktor Orbán on Tuesday.
In the framework of Hungary's upcoming presidency of the Council of the European Union, he said the country would present an action plan on accelerating the pace of EV adoption and boosting competition at a meeting of the Competitiveness Council on July 8-9.
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