Post by sevenofnine on Oct 30, 2024 11:26:51 GMT -5
OHHH China is not amused
The European Union (EU) increased tariffs on electric vehicles made in China to as much as 45.3% on Wednesday after unsuccessful negotiations with the country.
The bloc formally approved on Tuesday tariffs ranging from 7.8% to 35.3%, in addition to the EU's standard 10% car import duty.
Beijing said it had lodged a complaint with the World Trade Organization over the move.
Why is the EU imposing tariffs?
The EU argues that Chinese subsidies hurt competitiveness at home. The European Commission identified preferential financing and grants, along with land, batteries, and raw materials offered below-market prices.
www.dw.com/en/china-decries-new-eu-tariffs-on-its-electric-vehicles/a-70637630
The European Union (EU) increased tariffs on electric vehicles made in China to as much as 45.3% on Wednesday after unsuccessful negotiations with the country.
The bloc formally approved on Tuesday tariffs ranging from 7.8% to 35.3%, in addition to the EU's standard 10% car import duty.
Beijing said it had lodged a complaint with the World Trade Organization over the move.
Why is the EU imposing tariffs?
The EU argues that Chinese subsidies hurt competitiveness at home. The European Commission identified preferential financing and grants, along with land, batteries, and raw materials offered below-market prices.
www.dw.com/en/china-decries-new-eu-tariffs-on-its-electric-vehicles/a-70637630
!!
