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Chinese Electric Car Firms Hit With Extra EU Tariffs
The Guardian
|July 05, 2024
The EU's top trade official, Valdis Dombrovskis, yesterday brushed aside concerns of trade war retaliation from Beijing against European business after the European Commission imposed duties on Chinese electric vehicles.
Dombrovskis, a commission vicepresident, told Bloomberg Television that talks with China were ongoing, adding: "We are not seeing the basis for retaliation as what we are conducting is indeed in line with WTO [World Trade Organization] rules."
Provisional tariffs on Chinese EV imports to the bloc ranging from 17.4% to 37.6% will apply from today, after the two sides failed to reach an agreement on what the EU executive calls "unfair" subsidies from Beijing.
These tariffs - far lower than the 100% tariffs imposed by the US - will come on top of the EU's existing 10% duty on electric vehicles from China.
Europe's biggest carmaker, Volkswagen, reiterated its criticism of the proposed tariffs yesterday, arguing they would not strengthen Europe's car industry in the long term.
This story is from the July 05, 2024 edition of The Guardian.
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