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12 EU States Back Tariffs On Chinese EVs, But 4 Against & 11 Abstain

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(MNI) London - A non-binding vote among EU member states would indicate a certain amount of division on the subject of the impositions of significant tariffs on Chinese-built electric vehicles. Reuters reports that in the first vote, 12 members backed the tariffs, with four against and 11 abstentions. Germany, Sweden and Finland are seen to have abstained in the vote, while Italy and Spainbacked the imposition of tariffs. At present the European Commission is 'canvassing' opinions among the member states ahead of the potential imposition of 37.6% duties on Chinese-made EVs.

  • In order to be implemented a second vote would need to pass with a qualified majority in favour. This would mean 55% of member states representing 65% of the EU's population, a greater proportion than that which voted in favour in yesterday's vote.
  • Reuters: "The Commission will continue its investigation and determine whether to propose definitive duties that would typically apply for five years.[...] The near-four month window before then will allow Brussels and Beijing to negotiate a possible resolution to tariffs that would hit Chinese producers such as BYD, Geely and SAIC and Western automakers such as Tesla and BMW. Beijing has threatened wide-ranging retaliation."
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(MNI) London - A non-binding vote among EU member states would indicate a certain amount of division on the subject of the impositions of significant tariffs on Chinese-built electric vehicles. Reuters reports that in the first vote, 12 members backed the tariffs, with four against and 11 abstentions. Germany, Sweden and Finland are seen to have abstained in the vote, while Italy and Spainbacked the imposition of tariffs. At present the European Commission is 'canvassing' opinions among the member states ahead of the potential imposition of 37.6% duties on Chinese-made EVs.

  • In order to be implemented a second vote would need to pass with a qualified majority in favour. This would mean 55% of member states representing 65% of the EU's population, a greater proportion than that which voted in favour in yesterday's vote.
  • Reuters: "The Commission will continue its investigation and determine whether to propose definitive duties that would typically apply for five years.[...] The near-four month window before then will allow Brussels and Beijing to negotiate a possible resolution to tariffs that would hit Chinese producers such as BYD, Geely and SAIC and Western automakers such as Tesla and BMW. Beijing has threatened wide-ranging retaliation."