2024-05-23 01:58:54
Within the dispute over punitive tariffs on Chinese language electrical vehicles, Beijing is outwardly making ready a counterattack. The Chinese language EU Chamber of Commerce in Brussels warns of upper tariffs on vehicles with massive engines.
In response to punitive tariffs on Chinese language electrical vehicles, the Chinese language Chamber of Commerce in Brussels has warned of attainable countermeasures by Beijing. It has been knowledgeable by “insiders” that China is contemplating imposing tariffs of 25 p.c on imported autos with massive engines, the chamber mentioned in an announcement on X.
This attainable measure would have “an affect on European and US automobile producers, particularly in mild of latest developments,” the chamber continued. US President Joe Biden imposed particular tariffs of one hundred pc on electrical automobile imports from China final week.
The EU is presently investigating the extent to which China is distorting the marketplace for electrical vehicles. A choice on whether or not the EU will impose punitive tariffs remains to be pending.
China launches anti-dumping investigation into EU chemical compounds
The chamber additionally referred to an interview with Chinese language automobile knowledgeable Liu Bin within the Chinese language state newspaper “World Occasions”. Liu spoke of adjusting tariffs for imported autos with engines over 2.5 liters. This might additionally assist China promote the transition to greener practices within the automotive trade and speed up emissions reductions, Liu mentioned.
Within the commerce dispute between China and the West, the Beijing Ministry of Commerce launched an anti-dumping investigation into sure chemical compounds from the EU, the USA, Japan and Taiwan on Sunday. In response to the ministry, the chemical compounds in query are “copolymerized paraformaldehyde”, which might “partially substitute copper, zinc, tin, lead and different metallic supplies” and is utilized in automotive elements, electrical tools and industrial equipment, amongst different issues.