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European Union: Chinese electric cars will be overtaxed
European Union: Chinese electric cars will be overtaxed
(Franceinfo)
To protect the European automobile industry, the European Commission announced that customs duties on Chinese vehicles would be increased by up to 35%. For its part, Beijing has already threatened to do the same with products such as cognac, milk or pork. Exchanges are planned by the end of the month.
In China, cars of discord. Electric vehicles produced by the thousands and ready to be sold in Europe. Competition deemed unfair by Brussels. To protect its automobile industry and its approximately 14 million jobs, the 27 countries of the Union have given the green light to tax imported Chinese cars more, by raising customs duties up to 35%. “This is a new step. The conclusion of the Commission’s anti-subsidy investigation. At the same time, the European Union and China continue to work to find a solution which must be compatible with the rules of the World Trade Organization”declared Olof Gill, spokesperson for the European Commission.
Will this decision reignite the trade war between China and the European Union? This is what several member states, such as Germany, fear. Beijing has already threatened Europe with reprisals, for example by taxing numerous products exported to China, such as cognac for France. For other countries, it is milk, cars and pork. A strategy calculated to bend Brussels. The dialogue between the European Union and China has never been broken. Meetings should take place before the end of the month, the date planned for the application of these new customs duties.
Watch the full report in the video above.