EU and China lower electric auto tariffs
Date
11/24/2024 2:14:31 AM
(MENAFN) Brussels and Beijing are close to deciding a pact to stop EU taxes on Chinese electric auto imports, the chief of the European Parliament’s Trade Committee, Bernd Lange, stated on Saturday in a meeting with Germany’s ntv news outlet.
During October, the European Commission imposed taxes of up to 35.3 percent on Chinese-made battery electric vehicles (BEVs). The levies, which became sufficient on October 30, came on top of the EU’s average 10 percent duty on imported vehivles.
“We are also still negotiating with the Chinese side regarding the electric cars. We are close to a solution with China to abolish the tariffs,” Lange informed ntv.
“We are close to an agreement: China could commit to offering the electric cars in the EU at a minimum price,” the bloc’s top trade official stated, stressing that it might “eliminate the distortion of competition through unfair subsidies, which is why the tariffs were originally introduced.”
The duties were forced after a year-long high-profile trade investigation by the EU. Brussels said that the action was essential to defend European auto makers from biased competition, adding that Chinese makers benefit from state subsidies.
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