[CAAM refutes ‘overcapacity’ claims, warns of harm to China-EU trade]
On May 30, the China Association of Automobile Manufacturers (CAAM) responded to recent one-sided and false “overcapacity” accusations by some EU members, including calls for new trade tools. CAAM stated that such claims go against industrial facts and harm China-EU economic cooperation. Both sides should build on past cooperation, overcome challenges with mutual understanding and support, and pursue win-win innovation. CAAM noted that capacity is a market-driven outcome of matching competitiveness with demand, and trade and capacity issues should be viewed objectively, rationally, and with a development perspective.