TapTechNews August 10th news, according to Xinhua News Agency, the spokesperson of the Ministry of Commerce said on Friday that in order to safeguard the rights and interests of the development of the electric vehicle industry and global green transformation cooperation, on August 9th, China brought the EU's temporary anti-subsidy measures for electric vehicles to the WTO dispute settlement mechanism.
The spokesperson said that the determination in the EU's preliminary ruling lacks factual and legal basis and seriously violates WTO rules, which damages the overall situation of global cooperation in responding to climate change. China urges the EU to immediately correct its wrong practices and jointly maintain the stability of China-EU economic and trade cooperation and the supply chain of the electric vehicle industry chain.
The EU has imposed a tariff of up to 37.6% on electric vehicles made in China and exported to the region since July 5 local time (TapTechNews note: the final tariff will be levied starting in November, and this is the temporary tariff that starts to be levied this time).
According to the EU's anti-subsidy investigation, SAIC will be additionally levied a tariff of 37.6% on the existing 10% tariff basis, and Geely and BYD will be additionally levied tariffs of 19.9% and 17.4% respectively.
On July 6, the China Automobile Association issued a document stating that the China Automobile Association hopes that the European Commission will not regard the current phased vehicle trade phenomenon that is an inevitable stage of industrial development as a long-term threat, let alone politicize economic and trade issues and abuse trade remedy measures, and it is necessary to avoid damaging and distorting the global automotive industry chain and supply chain including the EU and maintain a fair, non-discriminatory and predictable market environment.
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Up to 37.6% tariff increase, China Automobile Association: Strong dissatisfaction with the temporary anti-subsidy rate disclosed by the European Commission