Chinese electric vehicles | It is reported that the EU will fine-tune tariffs on Chinese electric vehicles

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Wang Wentao meets with Finnish minister to deepen cooperation China Machinery and Electronic Products Chamber of Commerce applies to investigate EU barriers Support EJ Tech

Sino-EU trade relations remain tense. The EU announced earlier that it would impose anti-subsidy tariffs of up to 38.1% on imported Chinese electric vehicles at the beginning of next month. According to the latest foreign media reports, after obtaining more information from affected Chinese automakers, the EU decided to slightly adjust the tax rates of some automakers, including SAIC Motor’s tariff from 38.1% to 37.6%, Geely Automobile (00175) was slightly adjusted from 20% to 19.9%, BYD (01211) will remain unchanged at 17.4%; as for the automakers that are willing to cooperate with the investigation but have not been sampled, an average tariff of 20.8% will be levied, and other automakers that do not cooperate with the investigation will be subject to an additional tariff of 37.6%.

It is known that the temporary tariffs will take effect on July 4, and the finalized tariffs will be implemented before the end of November this year; China and the EU are negotiating on the incident, and the European Commission will hold technical talks with China this week. He Yadong, spokesman of the Ministry of Commerce, said that the teams of both sides are currently maintaining close communication and hope to promote the consultations as soon as possible and make positive progress.

China-EU trade relations remain tense, with the EU announcing earlier that it would impose anti-subsidy tariffs of up to 38.1% on imported electric vehicles from China early next month. (Photo by Xinhua News Agency)

Wang Wentao meets with Finnish minister to deepen cooperation

The day before yesterday, Minister of Commerce Wang Wentao met with Finnish Minister of Economic Affairs Wille-Werner Rydman to exchange views on China-Finland and China-EU economic and trade relations. Wang Wentao described that the economic and trade relations between the two countries maintained a stable and healthy development momentum, and cooperation in the fields of forest industry, agricultural and food products, information and communications, energy and environmental protection, winter sports and other fields continued to deepen. China is willing to further strengthen economic and trade exchanges with Finland, expand cooperation in emerging fields such as new energy and circular economy, and work together to create an open and fair business environment for enterprises of both countries.

Wang Wentao also emphasized that the EU’s recent plan to impose high tariffs on Chinese electric vehicles despite China’s opposition is engaging in unfair competition in the name of fair competition.

He pointed out that China and the EU recently agreed to launch consultations based on facts and rules. He hopes that Finland will adhere to the principle of free trade, play a constructive role within the EU, and push the EU to show sincerity in the consultations and meet China halfway.

China Machinery and Electronic Products Chamber of Commerce applies to investigate EU barriers

As the EU and China are negotiating on tariffs on electric vehicles, the Ministry of Commerce announced that it has received an application submitted by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products for an investigation into EU trade barriers. The application is being reviewed in accordance with the law and relevant information will be released to the public in a timely manner.

The China Chamber of Commerce for Import and Export of Machinery and Electronic Products previously stated that since February this year, the European Union has launched relevant investigations against Chinese companies based on the “Foreign Subsidies Regulation”, involving mechanical and electrical products such as railway locomotives, solar energy, wind power and security equipment. The relevant investigations not only hinder Chinese products or services from entering the EU market and Chinese companies’ investment in Europe, but also damage the competitiveness of Chinese companies in Europe and affect the overall situation of China-EU economic and trade cooperation. The Chamber of Commerce is actively using legal channels to safeguard the interests of related industries and companies in accordance with the law.

In response to the EU’s additional tariffs on Chinese imported electric vehicles, China has earlier taken countermeasures and launched an anti-dumping investigation on EU imports of related pork and pork by-products. According to the latest announcement on the Ministry of Commerce website, it has decided to initiate a final review investigation on the anti-dumping measures applicable to imported toluidine originating in the EU from today; this investigation should be completed before June 28 next year. During this period, anti-dumping duties will continue to be levied in accordance with the announced taxable product scope and tax rate. The anti-dumping duty rate levied on Lanxess Germany is 19.6%, and that on other EU companies is 36.9%.