EU Approves Tariffs on Chinese Electric Cars Amid Ongoing Trade Discussions
Date
10/5/2024 8:19:29 AM
(MENAFN) EU member states have approved the implementation of tariffs exceeding 36% on Chinese electric cars, as reported by Italy’s state-run ANSA news agency on Friday. This decision comes following a proposal from the European Commission aimed at addressing concerns over Chinese subsidies to its electric vehicle manufacturers.
The voting process saw ten countries support the proposal, while five opposed it and twelve chose to abstain. With a qualified majority achieved, the responsibility now lies with the European Commission, which has indicated its commitment to exploring alternative solutions in collaboration with Beijing that align with World Trade Organization regulations.
This development marks a significant step in the ongoing anti-subsidy investigation being conducted by the Commission regarding the support provided by the Chinese government to its electric car industry. The Commission views the approval of these tariffs as a necessary measure to ensure fair competition within the EU market.
Among the countries backing the tariff proposal, Italy and France were notable supporters, whereas Germany stood out as one of the five nations opposing the measure. Spain, on the other hand, opted to abstain from the vote, reflecting the diverse perspectives within the EU regarding trade policies and relations with China.
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