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EV Tariffs 'Will Affect Bilateral Ties'-Commerce Ministry

CHINA-EU
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(MNI) London - The Chinese Commerce Ministry has said that the EU's decision to impose punitive tariffs on Chinese electric vehicles (EVs) will affect China-EU bilateral ties. Adds that Chinese industries are 'deeply disappointed' with the decision and 'resolutely oppose it'. Finbarr Bermingham at SCMP posts comments from MOFCOM: "[The European] Commission is holding high the banner of green development in one hand and wielding the stick of protectionism in the other... not in line with consensus reached by Chinese and European leaders"

  • MOFCOM: "China will closely follow the EU's subsequent progress and will resolutely take all necessary measures to firmly defend the legitimate rights and interests of Chinese companies."
  • The statement from the Commission confirming the tariffs can be found here. The varying levels of tariffs on different firms are as follows: "BYD: 17,4%; Geely: 20%; and SAIC: 38,1%. Other BEV producers in China, which cooperated in the investigation but have not been sampled, would be subject to the following weighted average duty: 21%. All other BEV producers in China which did not cooperate in the investigation would be subject to the following residual duty: 38,1%." These will be placed on top of an already-existing 10% tariff on all Chinese EVs, raising the total for some firms to almost 50%.
  • The move comes a month after the US imposed tariffs on a range of Chinese imports, including EVs and solar panels.
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(MNI) London - The Chinese Commerce Ministry has said that the EU's decision to impose punitive tariffs on Chinese electric vehicles (EVs) will affect China-EU bilateral ties. Adds that Chinese industries are 'deeply disappointed' with the decision and 'resolutely oppose it'. Finbarr Bermingham at SCMP posts comments from MOFCOM: "[The European] Commission is holding high the banner of green development in one hand and wielding the stick of protectionism in the other... not in line with consensus reached by Chinese and European leaders"

  • MOFCOM: "China will closely follow the EU's subsequent progress and will resolutely take all necessary measures to firmly defend the legitimate rights and interests of Chinese companies."
  • The statement from the Commission confirming the tariffs can be found here. The varying levels of tariffs on different firms are as follows: "BYD: 17,4%; Geely: 20%; and SAIC: 38,1%. Other BEV producers in China, which cooperated in the investigation but have not been sampled, would be subject to the following weighted average duty: 21%. All other BEV producers in China which did not cooperate in the investigation would be subject to the following residual duty: 38,1%." These will be placed on top of an already-existing 10% tariff on all Chinese EVs, raising the total for some firms to almost 50%.
  • The move comes a month after the US imposed tariffs on a range of Chinese imports, including EVs and solar panels.