Chinese Electric Cars Entering the European Union Will Be Subject to Tariffs of 45 Percent
Holiday Ayo - The European Union today said it had decided to impose high import tariffs on electric cars from China.
This decision was taken by Brussels, despite opposition from many members of the supranational bloc.
The European Union's decision has received the blessing of its members to impose a 45% tariff on electric vehicles from China.
The decision was taken from the results of voting, which has the potential to trigger retaliation from President Xi Jinping's government.
The European Union's decision is none other than to oppose China's massive subsidy policy which is considered unfair.
The European Union proposal can be blocked if the majority of its members, namely 15 or around 65%, express their rejection.
In the vote, 10 EU members supported tariffs and five voted against. Then 12 member countries declared their abstention.
Quoted from Reuters, Friday (4/10), France, Greece, Italy and Poland voted in favor. Their efforts were enough to counter a number of countries that opposed tariffs.
With the majority of countries agreeing, the European Union can implement this policy. However, they can also submit change proposals if they gain greater support.
Germany, the country with the largest economy and the largest car manufacturer in the region, is opposed to imposing tariffs.
They also abstained from the first vote in July. German carmakers have been vocal in their opposition to tariffs.
Volkswagen says that's the wrong approach. The Spanish Economy Minister, who previously supported the imposition of tariffs, is starting to open up to other options.
He has written to European Commission Vice President Valdis Dombrovskis to safeguard potential negotiations.
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