China ‘does not agree or accept’ the EU’s EV tariffs, says negotiations are still ongoing

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

China ‘does not agree or accept’ the EU’s EV tariffs, says negotiations are still ongoing

Aerial photograph shows electric cars for export stacked at the international container terminal of Taicang Port in Suzhou, in China’s eastern Jiangsu Province. The EU and China have reportedly agreed to start talks on the planned imposition of tariffs on ********-made EVs.

Str | Afp | Getty Images

China’s commerce ministry said it “does not accept” tariffs imposed by the ********* Union on ******** electric vehicles, after the bloc

This is the hidden content, please

• Sign In
• or
• Sign Up

 on ******** EVs to as high as 45.3% on Wednesday.

The extra tariffs will range from 7.8% for Tesla to 35.3% for SAIC Motor, and stack on top of the 10% standard import duty for cars to the EU.

This is the hidden content, please

• Sign In
• or
• Sign Up

the ministry said that “China has repeatedly pointed out that the EU’s anti-subsidy investigation on ******** electric vehicles has many unreasonable and non-compliant aspects, and is a protectionist practice of ‘unfair competition’,” according to a

This is the hidden content, please

• Sign In
• or
• Sign Up

translation.

The EU launched an “anti-subsidy”

This is the hidden content, please

• Sign In
• or
• Sign Up

last year, alleging they were illegally subsidized and thereby “causes or threatens to cause economic injury” to the bloc’s EV industry.

China has already filed a lawsuit under the

This is the hidden content, please

• Sign In
• or
• Sign Up

mechanism. The commerce ministry said “China will continue to take all necessary measures to resolutely safeguard the legitimate rights and interests of ******** companies.”

China’s commerce ministry also highlighted the EU has indicated it will continue to negotiate with China, adding that both sides are conducting a new round of consultations.

It also expressed hope that the EU will “work with China in a constructive manner…, reach a solution acceptable to both sides as soon as possible, and avoid escalation of trade frictions.”

On Oct. 25,

This is the hidden content, please

• Sign In
• or
• Sign Up

the two sides were looking at possible minimum price commitments from ******** producers or investments in Europe as an alternative to tariffs.

Shares of ******** EV makers were mostly lower in morning trading Wednesday, with heavyweight BYD trading close to the flatline while Nio and Xpeng lost 3.07% and 0.11% respectively.

Stock Chart IconStock chart icon

This is the hidden content, please

• Sign In
• or
• Sign Up

#China #agree #accept #EUs #tariffs #negotiations #ongoing

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up