China ‘not acknowledging or accepting’ EU EV tariffs, says negotiations still ongoing – NBC New York

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  • The extra tariffs will range from 7.8% for Tesla to 35.3% for SAIC Motor and will be added to the standard 10% import duty on cars into the EU.
  • China has already filed a lawsuit under the World Trade Organization’s dispute resolution mechanism.

China’s Ministry of Commerce said it “does not accept” the tariffs the European Union imposed on China’s electric vehicles after the bloc. increased tariffs Chinese EVs rose as much as 45.3% on Wednesday.

Extra tariffs will vary between 7.8% for: Tesla’s to 35.3% for SAIC Engineand is in addition to the standard 10% import duty on cars into the EU.

In a statement, “China has repeatedly pointed out that the EU’s anti-subsidy investigation into Chinese electric vehicles has many illogical and incompatible aspects and is a protectionist practice of ‘unfair competition’,” the ministry said, according to Google’s translation.

EU launches “anti-subsidy” campaign Investigation into Chinese electric vehicles Last year, he claimed these were illegally subsidized and that the bloc was therefore “causing or threatening to cause economic harm” to the EV industry.

China has already filed a lawsuit World Trade Organization dispute resolution mechanism. “China will continue to take all necessary measures to resolutely protect the legitimate rights and interests of Chinese companies,” the commerce ministry said.

China’s Ministry of Commerce also stated that the EU has stated that it will continue negotiations with China, and both sides are conducting a new round of consultations.

He also expressed the hope that the EU would “work constructively with China…, reach a mutually acceptable solution as soon as possible and prevent trade frictions from escalating.”

on October 25 Reuters reported Both sides were considering possible minimum price commitments from Chinese manufacturers or investments in Europe as alternatives to tariffs.

Shares of Chinese EV makers were mostly lower in Wednesday morning trading. BYD trading close to the horizontal line Nio And xpeng lost 3.07% and 0.11% respectively.