EU Votes on Anti-Subsidy Tax on Chinese Electric Vehicles

TapTechNews October 4th news, on local time October 4th, EU member states voted on imposing a five-year anti-subsidy tax on Chinese electric vehicles. According to the statement released by the European Commission, the proposal received the necessary support from member states in the vote.

According to CCTV News, the German Federal Minister of Finance, Lindner, posted on social media on the same day, warning that trade policy disputes may intensify. He pointed out that although the vote has been held, the European Commission led by von der Leyen should not trigger trade conflicts - We need to find a solution through negotiation.

The German business community also called for avoiding additional taxation through negotiation. The Federation of German Industries, the German Association of the Automotive Industry, and several German automakers warned that additional taxation would have an adverse impact on the German economy.

Last October 4th, the European Commission initiated an anti-subsidy investigation against imported Chinese electric vehicles, and began to levy a temporary anti-subsidy tax on Chinese electric vehicles on July 4th this year. On August 20th, the EU released the final draft of the anti-subsidy investigation on Chinese electric vehicles, showing that it intends to levy an anti-subsidy tax of 17% to 36.3% on Chinese electric vehicles.

According to TapTechNews' understanding, according to the EU investigation procedure, after the European Commission releases the final draft and solicits the opinions of relevant interested parties, it will submit the final decision to the 27 EU member states, and the member states will vote on the final decision. By November 4th this year, the European Commission will make a final decision on the anti-subsidy investigation of Chinese electric vehicles.