China has told domestic manufacturers not to invest in European countries that approve the new tariffs. Tensions between the EU and the Chinese state rose after the new tariffs came into force.
China has reportedly told its automakers to stop major investments in European countries that support additional tariffs on Chinese-built electric vehicles, according to a new report. right Reuterstwo people familiar with the situation spoke about the issue, a move that could further divide Europe.
The new European Union tariffs reach values of up to 45.3% and came into force on Wednesday, October 30, after a year-long investigation. It showed how the Chinese state subsidizes manufacturers of electric cars, allowing them to sell them at lower prices than those made in the European space.
Tensions between China and Europe are rising. Chinese manufacturers are being told not to invest in states that have demanded higher taxes
Ten EU member states, including France, Poland and Italy, backed the higher tariffs in last month’s vote, with five members, including Germany, opposing tariffs on Chinese-made electric cars and 12 abstaining .
Thus, several Chinese automakers, including SAIC and Geely, that they should stop their plans to invest in assets such as factories in countries that supported the proposal, according to sources familiar with the matter.
Several foreign manufacturers also reportedly attended the meeting held by China’s Ministry of Commerce. They would have been told to be cautious about their investments in countries that abstained and encouraged to invest in those that voted against the tariffs.
In addition to tariffs of up to 45.3% that Chinese manufacturers will face in the EU, the US and Canada have adopted 100% tariffs on electric models imported from China.
Source: www.promotor.ro
