The European Commission plans to impose additional tariffs on electric cars from China. The reason is “unfair” state subsidies for Chinese vehicles. Brussels explains that this is harmful to competition on the market. It is difficult for European manufacturers to compete with companies strongly supported by the Chinese government.
The European Union wants to impose high tariffs on Chinese electric cars. We know the stakes
that individual duties will be:
- for BYD – 17.4 percent
- for Geely – 20 percent
- for SAIC – 38.1 percent
Other electric car manufacturers from China who cooperated with the European Commission’s investigation are to be charged a 21% customs fee. The announced duty rate for producers that did not participate in the investigation at all is 38.1%.
The commission is to talk to the authorities in Beijing on this issue. If the talks do not bring results, the new customs duties will come into force from the beginning of July. The investigation into this matter began on October 4, 2023. The Commission has 13 months to present its results. However, within nine months the EC may introduce appropriate measures to counteract such practices. This deadline is July 4. From that date, the Commission has four months to take final remedies.
China is looking for support against European Commission sanctions. Not everyone in the EU is happy either
In the European Union, not all countries like this decision, reports IAR. Germany is at the forefront of the dissatisfied people. However, to overturn Brussels’ decision, they must gather a majority of countries. Meanwhile, in the face of increasing sanctions, China plans to tighten cooperation within the BRICS group. A meeting of the heads of diplomacy of members of this group, including: China, Russia and Iran.
Director of the Office of the Central Foreign Affairs Commission of China, Wang Yi, touched on the politicization of economic issues, the unilateral imposition of sanctions and the introduction of technological barriers. Although his speech did not mention the name of any country, it is worth noting that China is becoming the target of increasing sanctions from the West. Sanctions are imposed on Chinese companies that did not stop cooperating with Moscow after the Russian aggression against Ukraine began.
Source: Gazeta
At 247 News Agency, Jason has covered a wide range of topics, from politics and business to crime and entertainment. He is highly respected by his colleagues and peers, and his articles are widely read and shared. With a passion for news and a commitment to accuracy, Jason Root is a valuable asset to the 247 News Agency team.
