SHANGHAI/BEIJING/BERLIN: Chinese automakers have urged Beijing to hike tariffs on imported European gasoline-powered cars in retaliation for Brussels' curbs on exports of Chinese-made EVs, the state-backed
A Honda Space-Hub electric concept vehicle, part of a new “O” series line, is displayed at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, US Jan 10, 2024. "called on the government to adopt firm countermeasures suggested that positive consideration be given to raising the provisional tariff on gasoline cars with large-displacement engines", according to the report.
Industry insiders say both Europe and China have reasons for wanting to strike a deal in the months ahead to de-escalate tensions and avoid the addition of billions of dollars in new costs for Chinese EV makers, as the EU process allows for review.EU to slap extra tariffs of up to 38% on Chinese electric cars
EU trade policy is turning increasingly protective amid concerns that China's production-focused, debt-driven development model could see the 27-member bloc flooded with cheap goods, including electric vehicles, as Chinese firms look to boost sales overseas due to weak demand at home. "We can see that China has adopted a package of policies to solve the 'overcapacity' problem, so this year, next year, and into the next four years, China's capacity utilisation will continue to rise," he added.
EU car exports to China were worth 19.4 billion euros in 2023, while the bloc bought 9.7 billion euros of electric vehicles from China, according to EU statistics agency figures.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European dairy, pork producers wary of Chinese retaliation for EV tariffsSHANGHAI: Global food companies from dairy producers to pork exporters are on high alert for potential retaliatory tariffs from China after the European Union's decision on Wednesday (Jun 12) to
Read more »
Sorry, but we’re Chinese Singaporeans – not your compatriotsMany people from China think that all ethnic Chinese are part of the larger Chinese family.
Read more »
China firms seek anti-dumping probe of EU pork importsBEIJING: Chinese firms have formally applied for an anti-dumping probe into pork imports from the European Union, the state-backed Global Times reported, escalating tensions after the bloc imposed anti-subsidy
Read more »
Israel furious as 3 European countries recognise Palestinian stateIsrael said it was recalling its envoys to Ireland and Norway for “urgent consultations”.
Read more »
Marcos sets ‘red line’ with Beijing over South China SeaManila and Beijing have had heated stand-offs over their competing claims in the South China Sea.
Read more »
Beijing accuses Taipei, Manila and Washington of escalating tensions in the regionAdmiral Dong blamed Taiwan’s ruling party and the Philippines for tensions in the Taiwan Strait, South China Sea.
Read more »