Mercedes-Benz's Statement on EU's Anti-Subsidy Investigation Against Chinese Electric Vehicles
TapTechNews October 5th news, regarding the matter of the final vote on the EU's anti-subsidy investigation against Chinese electric vehicles, Mercedes-Benz issued a statement today stating: We firmly believe that anti-subsidy tariffs will significantly weaken the competitiveness of an industry in the long term, and free trade and fair competition will bring prosperity, growth, and innovation to all parties. Therefore, we consider the proposed imposition of anti-subsidy tariffs by the European Commission a mistake, which may lead to profound negative consequences.
Mercedes-Benz stated in the statement that now, more than ever, it is crucial that the EU and China should maintain dialogue and reach a negotiated solution that is in the interests of both sides. We believe that both sides can find such a solution, and both sides need time to form such a set of solutions. Therefore, we call on the European Commission to postpone the implementation of its decided measures. Mercedes-Benz has always supported free trade based on WTO rules, including the principle that all market participants should enjoy equal treatment. Therefore, we urgently need to avoid measures that affect the mutually beneficial trade order.
The EU held a vote on whether to impose a five-year anti-subsidy tax on Chinese electric vehicles on local time October 4. The statement released by the European Commission shows that in the vote, the European Commission's proposal to impose tariffs on imported pure electric vehicles from China has obtained the necessary support of EU member states.
TapTechNews attaches the relevant timeline:
October 4, 2023, the European Commission initiated an anti-subsidy investigation against imported electric vehicles from China.
July 4, 2024, the EU began to levy a temporary anti-subsidy tax on Chinese electric vehicles.
August 20, 2024, the European Union 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.