Taxes on Chinese electric vehicles would range from 17.4% for manufacturer BYD, to 38.1% for SAIC and 20% for Geely. In any case, it is not a final decision and the European Commission has contacted China to look for possible solutions.
The European Commission announced on Wednesday that it will impose this duty up to 38.1% for the import of electric vehicles from China from July 4th.
The rates would range from 17.4% for the manufacturer BYDup to 38.1% SAIC, passes by 20% to Geelyas explained by the community Executive in a statement.
Other manufacturers who cooperated with community services during the investigation will face a 21% rate, while the rest who did not cooperate will be subject to the higher rate of 38.1%.
The European Commission has preliminary conclusion that Chinese manufacturers enjoy a “unfair” advantage because of the subsidies they receive from Beijingwhich he believes causes “economic damage” to electric car manufacturers in the European Union.
In each case, It is not a final decision. In that sense, the European Commission has done so in contact with the Asian giant to investigate possible solutions on the identified problems.
At a press conference in Brussels, one of the community’s vice-presidents, Margaritis Schinas, indicated that the community council has forwarded its conclusions to the Chinese authorities and has requested “compatible solution” with the World Trade Organization (WTO) and that, if the situation is not resolved ‘effectively’ in the coming days, the rates will apply from 4 July.
China’s response is not long in coming. China’s Ministry of Commerce is “deeply disappointed” by the European Commission’s decision and said it will take the necessary measures to “safeguard the legitimate rights of Chinese companies.”
The position of the European Commission to generate doubts between some EU countries, such as Germany or Swedenwho fear the consequences of a trade war with the Asian giant, but which is viewed positively by others, such as Spain and France.
Community services activated import surveillance to study measures after observing ‘huge’ entries of almost 200,000 vehicles between October 2023 and January 2024, representing an increase of 11% compared to the same period of the previous year, in monthly average terms, and 14 % compared to the corresponding period between October 2022 and January 2023.
Source: EITB
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