TECH - China Vows To 'Firmly Safeguard' Interests Against New EU Tariffs As EV Makers Experts Give Mixed Reactions | Benzinga
Ahead of the potential imposition of tariffs by the European Union on Chinese electric vehicles (EVs), China has announced its intention to protect its interests.
China said it will take all necessary steps to defend its rights after a report indicated that the European Commission plans to impose tariffs of up to 25% on imported Chinese electric vehicles (EVs), according to Reuters on Wednesday.
Starting next month, the European Commission intends to apply provisional duties of up to 25% on Chinese EV imports. This move aims to counteract subsidies provided by the Chinese government to its manufacturers.
The tariffs could escalate to around 35%, which is still significantly lower than the 100% duties imposed by the U.S., Financial Times reported. The decision is part of the EU’s strategy to address concerns over Chinese industrial overcapacity flooding the market with low-cost products.
Lin Jian, a spokesperson for China’s foreign ministry, labeled the investigation as ...