Report: EU to impose tariffs of up to 25pc on Chinese EVs
Analysts have said they expect tariffs of between 10 per cent and 25 per cent on Chinese EVs, a move likely to prompt possible retaliation from Beijing. — AFP pic
Wednesday, 12 Jun 2024 3:48 PM MYT
NEW YORK, June 12 — The European Commission will notify car makers on Wednesday that it will provisionally apply additional duties of up to 25 per cent on imported Chinese electric vehicles from next month, the Financial Times (FT) reported, citing people familiar with the matter.
Analysts have said they expect tariffs of between 10 per cent and 25 per cent on Chinese EVs, a move likely to prompt possible retaliation from Beijing. The European Commission has said Chinese EVs receive excessive subsidies.
The EU and China’s foreign affairs ministry did not immediately respond to Reuters’ requests for comment.
Less than a month after Washington quadrupled duties for Chinese EVs to 100 per cent, Brussels is expected to set almost certainly far lower tariffs for imports from Chinese makers such as BYD and Geely as well as Western producers such as Tesla that export cars from China to Europe.
BYD, Geely, SAIC and Tesla did not immediately respond to Reuters’ queries on the report.
The move comes as European automakers are being challenged by an influx of lower-cost EVs from Chinese rivals.
China has rebuked the EU over the anti-subsidy investigation, urged cooperation and lobbied individual EU countries, but not fully spelt out what its response to tariffs would be. — Reuters
Wednesday, 12 Jun 2024 3:48 PM MYT
NEW YORK, June 12 — The European Commission will notify car makers on Wednesday that it will provisionally apply additional duties of up to 25 per cent on imported Chinese electric vehicles from next month, the Financial Times (FT) reported, citing people familiar with the matter.
Analysts have said they expect tariffs of between 10 per cent and 25 per cent on Chinese EVs, a move likely to prompt possible retaliation from Beijing. The European Commission has said Chinese EVs receive excessive subsidies.
The EU and China’s foreign affairs ministry did not immediately respond to Reuters’ requests for comment.
Less than a month after Washington quadrupled duties for Chinese EVs to 100 per cent, Brussels is expected to set almost certainly far lower tariffs for imports from Chinese makers such as BYD and Geely as well as Western producers such as Tesla that export cars from China to Europe.
BYD, Geely, SAIC and Tesla did not immediately respond to Reuters’ queries on the report.
The move comes as European automakers are being challenged by an influx of lower-cost EVs from Chinese rivals.
China has rebuked the EU over the anti-subsidy investigation, urged cooperation and lobbied individual EU countries, but not fully spelt out what its response to tariffs would be. — Reuters
***
kt comments:
When the West can't compete, they play dirty, just like with our palm oil, coming up with kerbau-ish poo such as "excessive subsidies" and "de-forestation", etc
Competing naked against a country which is subsidising Billions to its electric car industry , and providing free credit funding is a fool's errand.
ReplyDeleteChina electric car makers can and in many cases are making major per unit losses with Every car and still keep producing and selling.
The rare exception BYD is showing a profit, but, again, it is Profit AFTER subsidies and free credit.
Spot on
DeleteSpot on thin aired fart!
DeleteShow proofs lah about "subsidising Billions to its electric car industry , and providing free credit funding".
Don't just make inconsequential statements.
BTW, any country in the world ain't supporting her key industries vis-a-vis WTO guidelines?
Ooop… the demoNcratic West can do that anytime. But not China!