The European Union will proceed with imposing tariffs on electric vehicles made in China, and the proposed tariffs on China-made EVs will be at rates up to 45% and are set to be imposed from next month for a period of five years, reported Reuters.
These rates would be higher than the 38.1% rate proposed by the European Union in June, though lower tariff rates have been agreed upon for selected makes in September, with Tesla having its tariff rate reduced from 20.8% to 7.8%, Geely’s reduced from 19.9% in July to 18.8%, and from 17.7% in July to 17%.
A vote taken on Friday saw 10 EU members support the tariffs, five members voted against, with 12 abstentions, Reuters cited European Union sources as saying.
The European Commission, which oversees the EU’s trade policy, has said it would counter ‘unfair Chinese subsidies’ following a year-long anti-subsidy investigation, however it would continue talks with Beijing on the matter, where a possible compromise could be through the setting of minimum prices on the vehicles.
Meanwhile, Volkswagen Group CEO Oliver Blume said that the European Union should consider adjusting the planned tariffs to make allowances for investments made in Europe by Chinese carmakers.
“Instead of punitive tariffs this should be about mutually giving credit for investments. Those who invest, create jobs and work with local companies should benefit when it comes to tariffs,” adding that there is a risk tariffs by China in retaliation that would hurt European carmakers, Blume said in an interview with Bild am Sonntag, according to a separate Reuters report.
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Padan muke ccp
Hmm how important is China market to European car makers? Europe sell tons of cars to China, so we shall see.
Later China up tariff VW group, Merc, BMW etc incl those exotic super cars will cry. Its a dumb decision to follow US without thinking Europe is heading for de-industrialization.
Hahaha, yg akan kena tempias ialah jenama2 kereta German. Masih ingat tak mcm mana USA nak tumbangkan Huawei dan yg kena tempias ialah Samsung di China?
They deserved it
Hahaha, supporting your own comments…again. How lame!
Guess it has always been since history was form the supremacy theory as shown also in our country.
Tit for tat, China will retaliated, BMW, VW, Merc will be the heavy casualty. Already day 1 i say this will happen, only certain countries will follow, and certain countries like Hungary, Spain will break from the EU. In the end, emerging markets will be a bigger fish to fry than the EU market, which is declined with a high interest loan. Stellantis will only sell well in the EU. The automotive market will be devided and will become regional….. ,US will sell to US and north America only, while EU will able to sell to certain EU contries, Japan, and Korea will sell well in G7 countries and some Asian countries, while South America, Middle East, Affrica andAsian will be flooded with China car, other car manufacture will not be competitive outside their respective region.
Excellent observation. With the advent of EV, gone are the days when manufacturers actually create “global” models, due to China emerging as the EV powerhouse.
Obviously they did not learn P1 history by protecting their market now… LOL
Hungary has already said they will Veto the bill. Plus German manufacturers make all their EV’s in china and has asked German government to oppose the bill.
EU council is under pressure from Uncle Sam, thats why. How funny would it be if the new US president reverse the tariff hike after winning election and let EU become the scapegoat of China’s wrath?
Cetak rompak
they want to hentam people but scared people will hentam back with greater force