“(The Chinese side) lodges strong protests. We have always held that economic and trade issues should be properly resolved through dialogue and consultation. China will take necessary measures to resolutely safeguard its legitimate rights and interests,” Mao Ning said at a press conference on Friday.
The European Commission announced yesterday, Thursday, the imposition of initial countervailing duties on the import of electric cars from China due to government support for their production.
The initial countervailing duties mean suppliers must provide bank guarantees at this stage rather than actually paying the duties. The actual collection of the duties will start if the EU makes a final decision to impose them, which might happen in the autumn. Brussels has indicated that there is a possibility of reaching a deal with Beijing to resolve the issue by then.
The European Commission has said that future tariffs might range from 17.4% to 37.6% depending on the manufacturer. The following tariffs will be applied to the three Chinese companies: BYD – 17.4%, Geely – 19.9%, and SAIC – 37.6%. Other electric car manufacturers that the European Commission said cooperated with the investigation will be subject to a 20.8% tariff, and those that did not cooperate will be subject to a 37.6% tariff. The American company Tesla has asked the EU to calculate the individual import tariff rate for its electric cars made in China.
Source: Novosti
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2024-07-05 21:13:12
