The global trade referee symbolically called to the rescue. On August 9, China indicated that it had seized the World Trade Organization (WTO) after the European Union decided to impose additional customs duties on Chinese (or Chinese-made) electric vehicles.
“We urge the EU to immediately rectify its wrong practices and jointly safeguard China-EU economic and trade cooperation and the stability of the electric vehicle industry supply chain,” the Chinese Ministry of Commerce wrote in a statement, denouncing Brussels’ “lack of factual and legal basis” to justify its decision.
Stop the offensive of Chinese manufacturers
Europe claims that the subsidies granted to manufacturers in China distort competition within the single market, to the detriment of European champions. After several months of investigation on the ground, the Twenty-Seven have decided since 5 July to apply a provisional surcharge on a case-by-case basis, in addition to the 10% already in force. The European Commission has until the end of October to adopt a definitive surcharge, applicable for a period of five years.
Source: www.usinenouvelle.com
