Prime Minister Viktor Orban of Hungary will host Chinese President Xi Jinping on a three-day visit starting Wednesday. Xi knows Orban’s utility.
He knows that the European Union, of which Hungary is a member, will almost certainly impose large tariffs against Chinese EV imports. In turn, China will make significant new investments in Hungary. This will allow Xi to skirt tariffs by having Chinese goods shipped from Hungary to the other countries of the Union. EU states are not allowed to put tariffs on another member state’s exports. Xi will sign multiple economic agreements including funding for two electric vehicle manufacturing plants and one EV battery plant. China’s BYD, the world leader in EV production, will open its first European EV production factory this year in southern Hungary.
On Monday, it was confirmed on Hungarian state television that Xi and Orban will…
