The European Union is considering imposing restrictions on Chinese electric cars due to concerns that imports are flooding the European market, threatening the continent's own production of such vehicles.

The EU's trade defense unit, led by Denis Redonnet, is discussing the possibility of launching an anti-dumping investigation that could lead to additional levies or restrictions on Chinese electric cars. French officials and car industry bosses have advocated for tougher restrictions against Chinese electric cars, citing unfair competition.

German officials, however, are concerned about potential retaliation and the impact on exports to China. Chinese brands such as BYD, Great Wall, and Ora have been rapidly gaining market share in Europe with high-quality and low-price electric vehicles. The EU is also expected to release a report warning of the risk of persisting dependency on high-risk suppliers like Huawei in terms of cybersecurity. In another development, the European Commission has made a historic decision to ask Google to divest part of its business in order to address competition concerns and end its "pervasive" reign over the online advertising sector.

Eurozone finance ministers are celebrating the 25th anniversary of the Eurogroup, but challenges such as inflation, constraints on growth, and the war in Ukraine persist. The Eurogroup president, Paschal Donohoe, expresses cautious optimism about the eurozone's economic performance.

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