00:00What China is doing is they're making electric cars for the benefit of the people of China.
00:07And they're priced at the price that they ought to be to get the attention of the market.
00:13That's standard marketing, whether it's America or Europe or China.
00:18So what the Chinese are doing is offering that.
00:20So when the Europeans put on the tariff, what do the Chinese say?
00:24Hold on a second, we've given your car companies a fortune in access to the Chinese market.
00:29We didn't put tariffs on them.
00:31You put tariffs on us, we'll put tariffs on you.
00:33And all the car companies in Europe said, don't put the tariffs on.
00:37But these rather silly people in the EU bureaucracy, following American advice,
00:42want to try and make life difficult for China.
00:45It's involved in a battle with China, which I don't think it will win.
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