Beijing has vowed action against the tariff hikes additionally slammed by a number of European carmakers.
The European Union’s tariff hike of over 35% on certain Chinese electric vehicles has been met with distain from Beijing. Image: GWM
“We welcome competition, including in the electric vehicle sector, but it must be underpinned by fairness and a level playing field,” he said. Brussels’ probe found that China’s state subsidies were unfairly undercutting European automakers. Once they come into effect, the tariffs will be definitive and last for five years.
The EU launched the probe in a bid to protect its automobile industry, a major player that provides jobs to around 14-million people.“The European Union is taking a crucial decision to protect and defend our trade interests, at a time when our car industry needs our support more than ever,” French Finance Antoine Armand said in a statement.
Volkswagen, which has been hit hard by rising competition in China, has previously said the tariffs would not improve the competitiveness of the European automotive industry.
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