EU and China negotiate electric vehicle tariffs

Robots assemble electric cars of Voyah company in Wuhan, Hubei province (China) on April 1, 2024. Photo: THX/TTXVN

A German reporter quoted the country's Handelsblatt newspaper on April 10, saying that EU Trade Commissioner Maros Sefcovic met with Chinese Commerce Minister Wang Wentao during a visit to Beijing in late March and both sides agreed to resolve the dispute over EU tariffs through negotiations.

The EU imposed tariffs on Chinese-made EVs on October 30 last year. The EU imposed additional duties of between 7.8% and 35.3% on Chinese automakers, depending on their level of cooperation with the EU’s anti-subsidy investigation.

The new tariff is combined with an existing 10% import tax, leaving some automakers facing a total tax of up to 45.3%.

The decision by European officials has increased trade tensions between the two major economies. China has criticized the EU's protectionist actions and launched retaliatory investigations into a number of European imports, including pork, milk and spirits.

However, many other Chinese electric car companies are still expected to continue considering investing in building factories in Europe. Many opinions say that this is an option that can help both Europe and Chinese car companies significantly limit the negative impacts of tariffs.

The European Commission (EC) announced its readiness to continue negotiating an alternative solution to tariffs with China./.

According to VNA

Source: https://baothanhhoa.vn/lien-minh-chau-au-va-trung-quoc-dam-phan-ve-thue-quan-xe-dien-245235.htm