Starting tomorrow, the European Union will introduce tariffs of up to 37.6 percent on the import of electric vehicles produced in China, EU officials announced.
There is, however, a four-month period during which the tariffs are only temporary and intense talks between the two sides are expected to continue.
The European Commission’s temporary commitments of between 17.4 percent and 37.6 percent without a set date are designed to prevent what its president Ursula von der Leyen said was a threatening flood of government subsidies for cheap electric vehicles.
The rates are almost exactly the same as those announced by the Commission on June 12. The Executive Committee made minor adjustments after firms identified minor calculation errors in the initial release.
Beijing then said it would take “all necessary measures” to protect China’s interests. This could include retaliatory tariffs on exports to China of products such as cognac or pork.
The EU’s anti-subsidy investigation has been going on for almost four months.
Finally, the Commission, the EU’s executive body, could propose “certain commitments”, which would normally apply for five years, to be voted on by EU members.
China’s Ministry of Commerce said both sides have so far held several rounds of technical talks on tariffs on the matter.
“There are still four months before the arbitration, and we hope that the European and Chinese sides will move in the same direction, show sincerity and continue the consultation process as soon as possible,” said He Yadong, a spokesman for the ministry, Fena writes.
