Reuters: Big German companies pressure Lithuania to make concessions with China (17:14) – 20220121 – Instant Financial News

The dispute stemmed from Lithuania allowing Taiwan to set up a representative office in the name of “Taiwan”. China has pressured several multinational companies to cut ties with Lithuania. Some of the affected companies have reportedly asked Lithuanian political leaders to de-escalate the dispute or face companies leaving Lithuania.

In a letter from the German-Baltic Chamber of Commerce to the Minister of Foreign Affairs and Economy of Lithuania, the import of machinery and parts from China, as well as the sales of Lithuanian products to China, has been suspended; the Chamber of Commerce said that the basic business model of enterprises is facing difficulties, and some have no choice It can only shut down the production line in Lithuania; it also called on Lithuania to seek “constructive solutions” to restore relations with China.

German car companies are among the sectors most affected by the dispute. The report quoted another person familiar with the matter as saying that the industry as a whole lost hundreds of millions of euros.

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