Chinese automakers seek retaliatory tariffs on EU cars, state media reports
In a closed-door meeting yesterday also attended by European automakers, Chinese car companies and industry groups suggested authorities hike tariffs on large gasoline-powered vehicles imported from the European Union. — Reuters pic
Wednesday, 19 Jun 2024 2:34 PM MYT
BEIJING, June 19 — Chinese automakers have urged Beijing to retaliate against Brussels’ decision to place curbs on Chinese electric vehicle exports by raising tariffs on imported European gasoline-powered cars, the state-backed Global Times newspaper said today.
In a closed-door meeting yesterday also attended by European automakers, Chinese car companies and industry groups suggested authorities hike tariffs on large gasoline-powered vehicles imported from the European Union, the report said.
EU trade policy is turning increasingly protective owing to concerns China’s production-focused, debt-driven development model could see the 27-member bloc flooded with cheap goods, including EVs, as Chinese firms look overseas due to weak domestic demand.
The European Commission’s June 12 announcement that it would impose anti-subsidy duties of up to 38.1 per cent on imported Chinese EVs from July follows the United States hiking tariffs on Chinese cars in May, and opens a new front in the West’s trade war with Beijing, which began with Washington’s initial import tariffs in 2018.
The Global Times first reported late last month that a Chinese government-affiliated auto research centre was suggesting China raise its import tariffs on large gasoline-powered cars to 25 per cent, citing an industry expert.
China’s current import tariff for cars is 15 per cent.
Chinese authorities have previously hinted at possible retaliatory measures through state media commentaries and interviews with industry figures.
The same newspaper last month also hinted that Chinese firms planned to ask authorities to open an anti-dumping investigation into European pork products, which China’s commerce ministry on Monday announced it would undertake. It has also urged Beijing to look into EU dairy imports. — Reuters
Wednesday, 19 Jun 2024 2:34 PM MYT
BEIJING, June 19 — Chinese automakers have urged Beijing to retaliate against Brussels’ decision to place curbs on Chinese electric vehicle exports by raising tariffs on imported European gasoline-powered cars, the state-backed Global Times newspaper said today.
In a closed-door meeting yesterday also attended by European automakers, Chinese car companies and industry groups suggested authorities hike tariffs on large gasoline-powered vehicles imported from the European Union, the report said.
EU trade policy is turning increasingly protective owing to concerns China’s production-focused, debt-driven development model could see the 27-member bloc flooded with cheap goods, including EVs, as Chinese firms look overseas due to weak domestic demand.
The European Commission’s June 12 announcement that it would impose anti-subsidy duties of up to 38.1 per cent on imported Chinese EVs from July follows the United States hiking tariffs on Chinese cars in May, and opens a new front in the West’s trade war with Beijing, which began with Washington’s initial import tariffs in 2018.
The Global Times first reported late last month that a Chinese government-affiliated auto research centre was suggesting China raise its import tariffs on large gasoline-powered cars to 25 per cent, citing an industry expert.
China’s current import tariff for cars is 15 per cent.
Chinese authorities have previously hinted at possible retaliatory measures through state media commentaries and interviews with industry figures.
The same newspaper last month also hinted that Chinese firms planned to ask authorities to open an anti-dumping investigation into European pork products, which China’s commerce ministry on Monday announced it would undertake. It has also urged Beijing to look into EU dairy imports. — Reuters
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ReplyDeleteVW has just doubled it's auto investment network in China features 39 plants, 90,000 employees and around 50 million customers who drive a Group brand vehicle.
DeleteSo tutup kedaiby what?
Know nothing fart of inconsequential!
VW targets to invest 2.5 billion euros ($2.68 billion) in China 2024, to expand its production and innovation hub in the city of Hefei in Anhui Province.
ReplyDelete