EU takes steps towards 'trade war' with Beijing
The European Commission reports that member states have supported significant tariffs on electric cars manufactured in China. Read Full Article at RT.com.
TroibNews 
Bloc members have provided "the necessary support" for steep tariffs on Chinese-made electric cars, according to the European Commission.
The European Commission has announced its decision to implement tariffs on battery electric vehicles from China, stating that it has received "the necessary support" from EU members. Critics of the measure caution against the potential for a trade war with the Asian economic powerhouse.
This decision represents "another step" towards finalizing the Commission's anti-subsidy investigation into Chinese electric cars, which was initiated in October 2023, according to a statement published on Friday.
The tariffs will vary, with levies set at 7.8% for foreign manufacturers like Tesla, which produce vehicles in Asian countries, and reaching up to 35.3% for Chinese companies that reportedly did not engage with the investigation. These new tariffs will be applied for a duration of five years and are in addition to the EU’s standard 10% import duty on vehicles.
"Today, the European Commission’s proposal to impose definitive countervailing duties on imports of battery electric vehicles from China has obtained the necessary support from EU Member States for the adoption of tariffs," the Commission noted.
Ten of the 27 EU member states, including France, Italy, and Poland, are in favor of the tariffs, as reported by AFP citing EU diplomats. Meanwhile, five countries, including Germany and Hungary, opposed the move, and 12 abstained, including Spain and Sweden.
Brussels contends that these tariffs are essential for shielding European car manufacturers from unfair competition, asserting that Chinese automakers receive state subsidies.
Germany, the largest economy in the EU and a significant car producer, has expressed strong concerns regarding the tariffs. "[The] Commission should not trigger a trade war [with China]. We need a negotiated solution,” stated German Finance Minister Christian Lindner on X.
Hungarian Prime Minister Viktor Orban warned prior to the vote that the EU was on a path toward an "economic cold war" with China.
The EU also indicated that it continues to seek "an alternative solution" in discussions with Beijing. The new tariffs are anticipated to take effect at the end of October.
The Chinese government, as of August, announced that it has filed a complaint with the World Trade Organization regarding the tariffs, arguing that they contravene WTO regulations and hinder global cooperation on climate change. In response, China has already initiated investigations into European imports of products such as brandy, dairy, and pork.
Alejandro Jose Martinez contributed to this report for TROIB News
The European Commission has announced its decision to implement tariffs on battery electric vehicles from China, stating that it has received "the necessary support" from EU members. Critics of the measure caution against the potential for a trade war with the Asian economic powerhouse.
This decision represents "another step" towards finalizing the Commission's anti-subsidy investigation into Chinese electric cars, which was initiated in October 2023, according to a statement published on Friday.
The tariffs will vary, with levies set at 7.8% for foreign manufacturers like Tesla, which produce vehicles in Asian countries, and reaching up to 35.3% for Chinese companies that reportedly did not engage with the investigation. These new tariffs will be applied for a duration of five years and are in addition to the EU’s standard 10% import duty on vehicles.
"Today, the European Commission’s proposal to impose definitive countervailing duties on imports of battery electric vehicles from China has obtained the necessary support from EU Member States for the adoption of tariffs," the Commission noted.
Ten of the 27 EU member states, including France, Italy, and Poland, are in favor of the tariffs, as reported by AFP citing EU diplomats. Meanwhile, five countries, including Germany and Hungary, opposed the move, and 12 abstained, including Spain and Sweden.
Brussels contends that these tariffs are essential for shielding European car manufacturers from unfair competition, asserting that Chinese automakers receive state subsidies.
Germany, the largest economy in the EU and a significant car producer, has expressed strong concerns regarding the tariffs. "[The] Commission should not trigger a trade war [with China]. We need a negotiated solution,” stated German Finance Minister Christian Lindner on X.
Hungarian Prime Minister Viktor Orban warned prior to the vote that the EU was on a path toward an "economic cold war" with China.
The EU also indicated that it continues to seek "an alternative solution" in discussions with Beijing. The new tariffs are anticipated to take effect at the end of October.
The Chinese government, as of August, announced that it has filed a complaint with the World Trade Organization regarding the tariffs, arguing that they contravene WTO regulations and hinder global cooperation on climate change. In response, China has already initiated investigations into European imports of products such as brandy, dairy, and pork.
Alejandro Jose Martinez contributed to this report for TROIB News
