EU to impose tariffs of up to 38% on Chinese electric vehicles

The Star

The European Commission notified car makers on Wednesday (June 12) it would apply additional duties of up to 38.1% on imported Chinese electric vehicles from next month, a move likely to draw possible retaliation from China.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00Today at the college, Executive Vice President

00:28Valdez-Dombrowskis presented to the college the provisional results of the ongoing investigation

00:37into the battery electric vehicles value chain in China.

00:43In particular, this value chain benefits from unfair subsidiarization, which is causing a

00:53threat of economic injury to EU battery electric vehicles producers.

01:00On this basis, the Commission has reached out to the Chinese authorities to discuss

01:07these findings and explore possible ways for resolving the issues identified.

01:16The Commission has also predisclosed today the level of provisional countervailing duties

01:26it would impose on imports of battery electric vehicles from China.

01:40I would like to emphasize that this anti-subsidiary investigation is a typical protectionist approach.

01:47The EU is using this as a pretext to increase tariffs on battery electric vehicles from China,

01:52to violate market economic principles and international trade rules,

01:57to damage the stability of the China-EU trade cooperation and global vehicle production chain,

02:02and ultimately to damage the interests of Europe itself.

02:05We have noticed that in recent times, representatives of the European Union have expressed opposition

02:12to the European Commission's investigation into the EU battery electric vehicle value chain.

02:15They believe that it is a wrong approach to try to protect the European industry by increasing

02:20tariffs on China's battery electric vehicles.

02:22Protectionism has no future.

02:25Open cooperation is the right path.

02:28We urge the EU to uphold its commitment to support free trade and oppose protectionism,

02:34and to maintain the overall situation of China-EU trade cooperation with China.

02:38China will take all necessary measures to safeguard its legitimate rights.

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Transcript

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