EU to vote on Oct. 4 to finalise tariffs on Chinese EVs
The European Union (EU) is poised to vote on October 4 on a set of tariffs as high as 45 per cent on imported Chinese electric vehicles (EVs), according to informed sources.
The vote was briefly postponed due to ongoing negotiations with Beijing aimed at finding a solution that would prevent the imposition of new levies.
The proposed final tariffs on Chinese electric vehicles will be subject to a vote by the bloc’s 27 member states. If approved by a qualified majority of 15 members representing 65 per cent of the EU population, the tariffs will be implemented by November for a five-year period.
The proposed tariffs came after an investigation by the European Commission – the EU’s executive arm – had found that China unfairly subsidises its EV industry, putting European manufacturers at a competitive disadvantage.
Germany and Spain have voiced concerns, warning that the tariffs may provoke a trade war with China, Europe’s second-largest trading partner, which could retaliate by targeting European goods like dairy, brandy, pork, and luxury cars.
Negotiations with China are ongoing, with the EU seeking a solution to control EV prices and export volumes without escalating into a full-blown tariff war.
However, China’s proposals have been rejected so far, as the EU insists on adherence to World Trade Organisation rules and measurable compliance. Despite some resistance, European officials remain confident that the tariffs will be approved.
Attribution: Bloomberg
Subediting: Y.Yasser
