HomeTechnologyEurope penalizes Chinese trams, between 17.4% and 38.1%

Europe penalizes Chinese trams, between 17.4% and 38.1%

Instead of the current 10%, Chinese automakers will have to bear (provisionally) import taxes between 17.4% and 38.1% higher, depending on whether they participated more or less actively in the investigations that Europe carried out. carried out in China on suspicion of illegal subsidies. of vehicle manufacturers by the Chinese State. For Chinese brands that were not analyzed, the European Union (EU) determined a provisional rate of 21%, according to North American television CNBC.

The EU had long been suspicious of the low prices of Chinese vehicles, especially electric vehicles, and launched an investigation in October. The objective of the Chinese authorities was not only to make vehicles more accessible in the domestic market, but also to increase their competitiveness for export to markets such as Europe, especially at a time when the installed production capacity in China amounts to 44 million vehicles/year and the domestic market only consumes around 24 million.

The result of this investigation into the contested Chinese trade practices will not be known until next July 4, but after beginning to collect data for this analysis, the EU decided to move forward with provisional sanctions with the intention of preventing the extension of the illegal advantages of the Chinese. manufacturers, which harm European manufacturers.

Speaking to CNBC, EU Trade Commissioner Valdis Dombrovski stated that the investigation into Chinese malpractices was “based on facts and evidence”, having counted on the collaboration of the Chinese authorities and their operators on possible solutions. This did not stop the Chinese Minister of Commerce from publicly stating that the European decision lacked evidence and legal basis, calling it a “protectionist decision.” It should be noted that this accusation comes from a country that, for decades, to allow the free sale in China of vehicles from a foreign manufacturer, whether European, North American, Japanese or South Korean, required the latter to install a factory in the country and “ offered” 50% to a local builder belonging to the State, who thus obtained access to all information, technology and production methods, with the exception of Tesla, which refused to accept this imposition.

Source: Observadora

- Advertisement -

Worldwide News, Local News in London, Tips & Tricks

- Advertisement -