The EU and China will keep negotiating after the vote on tariffs for China-made electric vehicles, according to Euractiv. The vote on October 4, delayed from September 25, should give both sides time to seek alternatives, including Chinese carmakers offsetting state subsidies by setting a minimum price for electric vehicles.
Tariffs could reach up to 36.3% on top of the EU’s standard 10% car import levy, but several EU nations remain undecided, including Sweden, who remains in deliberation. At least 65% of the unions population, meaning fifteen of the EU’s 27 member states, must vote against the tariffs to prevent them from being introduced for a five-year period.
The final decision is due by 30 October. Meanwhile, tensions have risen, with both the EU and China filing complaints with the World Trade Organization.
According to the EU, the reason for the tariff is, that European carmakers are being challenged by cheaper EVs from their Chinese rivals. Back in July Danish politician European Commissioner for Competition, Margrethe Vestager criticized the way China outperformed the European solar power industry:
“China attracted foreign investments, often with a requirement for joint ventures. Afterwards, China acquired the technology. They gave massive government subsidies to their own producers and closed of the Chinese market to foreign companies.”
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Publish date : 2024-10-01 20:39:00
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