Beijing calls EU tariffs protectionist and damaging to EU-China relations.
The move could reshape the competitive landscape and impact consumer prices, as well as potentially lead to further trade tensions. / Photo: AP
A senior EU official said the extra tariffs had been formally approved on Tuesday. The new rates are set to be published in the EU's Official Journal later in the day or on Wednesday. They will take effect the following day. Beijing has called the EU tariffs protectionist and damaging to EU-China relations and automotive supply chains and has launched its own probes this year into imports of EU brandy, dairy and pork products in apparent retaliation.European automakers are grappling with an influx of lower-cost EVs from Chinese rivals. The Commission estimates that Chinese brands' share of the EU market has risen to 8 percent from below 1 percent in 2019 and could reach 15 percent in 2025.
The measures come as thousands of German industrial workers, including at the carmakers, strike for higher wages, with Volkswagen possibly about to announce shutting plants on home soil for the first time in its 87-year history.However, France's PFA car association has welcomed duties, adding it backed free trade as long as it was fair.
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