EU Commission plans new squeeze on Chinese trade:
The proposals will be put to European leaders at a summit next month, officials say.
politico.eu/article/eu-commission-reduce-economic-dependence-chinese-trade-plan/
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Key FactsEU to Impose Up to 48% Tariffs on Chinese Electric Cars
Jun 12, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: ft.com
Summary created with AI assistance · Source: ft.com
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- The tariffs will be applied to Chinese EVs on top of existing 10 percent tariffs on all Chinese EVs, depending on how they comply with an EU investigation into state support for electric car manufacturers announced last September.
- EU Trade Commissioner Valdis Dombrovskis said he would utilize the three weeks until definitive duties are imposed on July 4 to negotiate with Beijing. 'We're open to discussing other possible ways to remedy this situation.'
- The EU's decision to impose additional tariffs on Chinese electric cars was supported by France and is expected to generate substantial revenue for the EU budget as the sales of Chinese EVs increase in Europe. According to analysts at Rhodium Group, China exported €10bn worth of electric cars to the EU in 2023.
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