EU, China approach dropping electric automobiles duties
Date
11/26/2024 7:01:12 AM
(MENAFN) Brussels and Beijing are nearing an agreement to lift the EU’s tariffs on Chinese electric vehicle imports, according to Bernd Lange, head of the European Parliament’s Trade Committee. In October, the European Commission imposed tariffs as high as 35.3% on Chinese-made battery electric vehicles (BEVs), in addition to the standard 10% duty on imported cars. Lange stated that both sides are close to reaching a resolution, with China possibly agreeing to offer electric vehicles in the EU at a minimum price to address concerns over unfair competition from state subsidies.
The tariffs were introduced after a lengthy investigation by the EU, which argued that they were necessary to protect European automakers. However, the measure has caused divisions within the EU, with Germany and Hungary objecting, fearing a trade war and calling for negotiations. In retaliation, China imposed provisional tariffs on European liquor and launched anti-dumping probes into EU pork and dairy products.
MENAFN26112024000045015687ID1108927244
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.