Post by sevenofnine on Sept 11, 2024 10:32:53 GMT -5
Little lover quarrel in EU
We don't need another war, in this case, a trade war. We need to build bridges between the EU and China," Pedro Sánchez said in Shanghai.
Spain's Pedro Sánchez has openly called on the European Commission and the other 26 member states of the European Union to "reconsider" the proposed import tariffs on China-made electric vehicles, exposing the political cracks ahead of a make-or-break vote that could turn the duties into a fixture for at least five years.
The tariffs are designed to offset the subsidies pumped into the lucrative sector by the Beijing authorities, which lead to artificially low costs. Following a months-long investigation, the Commission found public money spreads across the entire supply chain, putting European competitors at risk of suffering unsustainable economic losses.
As a result, Brussels proposed additional duties, ranging from 7.8% to 35.3%, according to the brand and their level of cooperation with the investigation, that would come on top of the existing 10% rate. The top-up, the thinking goes, would ensure fairer competition in the market and close the price gap between EU and Chinese
www.euronews.com/my-europe/2024/09/11/sanchez-urges-the-eu-to-reconsider-tariffs-on-chinese-electric-cars-exposing-cracks
We don't need another war, in this case, a trade war. We need to build bridges between the EU and China," Pedro Sánchez said in Shanghai.
Spain's Pedro Sánchez has openly called on the European Commission and the other 26 member states of the European Union to "reconsider" the proposed import tariffs on China-made electric vehicles, exposing the political cracks ahead of a make-or-break vote that could turn the duties into a fixture for at least five years.
The tariffs are designed to offset the subsidies pumped into the lucrative sector by the Beijing authorities, which lead to artificially low costs. Following a months-long investigation, the Commission found public money spreads across the entire supply chain, putting European competitors at risk of suffering unsustainable economic losses.
As a result, Brussels proposed additional duties, ranging from 7.8% to 35.3%, according to the brand and their level of cooperation with the investigation, that would come on top of the existing 10% rate. The top-up, the thinking goes, would ensure fairer competition in the market and close the price gap between EU and Chinese
www.euronews.com/my-europe/2024/09/11/sanchez-urges-the-eu-to-reconsider-tariffs-on-chinese-electric-cars-exposing-cracks
!!
