EU, China boost efforts to avert electric-vehicle tariffs, says EU

admin admin | 09-20 16:30

The European Commission and China agreed to intensify efforts to prevent EU import tariffs on China-built electric vehicles.
The European Commission and China agreed to intensify efforts to avert EU import tariffs on China-built electric vehicles and could re-examine a minimum-price deal previously rejected by the EU, the Commission said on Thursday.

EU trade chief Valdis Dombrovskis and Chinese Commerce Minister Wang Wentao spoke on Thursday as EU countries prepare to vote on tariffs of up to 35.3%, on top of the EU's standard 10% import duty for cars.

The two held a "frank and constructive" discussion on EV tariffs, a Commission spokesperson said, with Dombrovskis stressing the EU anti-subsidy investigation was based on facts and designed to allow competition and a level playing field.

"Both sides reaffirmed their political will to pursue and intensify efforts in finding a mutually agreeable solution, which would need to be effective in addressing the problem, enforceable, monitorable, as well as WTO-compatible," the spokesperson said.

He added that the two sides had agreed to re-examine price undertakings, which involve a minimum price commitment by exporters and often a cap on volumes. The EU executive previously said the deadline for Chinese EV price offers had passed.

Dombrovskis said the EU would continue its investigation.

The European Commission vice president also expressed "strong concerns" about China's trade investigations against EU imports of brandy, pork and dairy, which could result in Chinese tariffs, saying they were unwarranted and based on "questionable allegations".

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Ola Electric responds to ARAI notice, says prices of S1 X 2 kWh scooter unchanged

Ola Electric provided an invoice dated October 6, showing a INR 5,000 discount given to customers, a...

Hyundai Motor IPO’s off to a slow start

Around 35% of the total shares in the offering are reserved for retail investors, while QIBs and NII...

Under fire, Ola Electric taps EY India to get back on track

Close to a dozen executives from EY came on-board at Ola Electric a few weeks ago on deputation for ...

Tata Motors secures 5-star BNCAP safety ratings for Nexon, Curvv, and EV models in latest crash tests

Tata Curvv.EV BNCAP testTata Motors did it again! Tata Motors has once again secured 5 star rating i...

India needs to step up manufacturing to meet Viksit Bharat goal: Volvo Grp India MD

Volvo Group India Managing Director and President, Kamal Bali. The manufacturing sector is a weak li...

Dollar pullback to help Indian rupee, weak risk appetite to weigh

Investors are now nearly certain that the U.S. Federal Reserve will deliver a 25-basis-point rate cu...