(AmericanProsperity.com) – China is pushing for the European Union to revoke its decision to place high tariffs on Chinese electric vehicles.
Wang Wentao, China’s commerce minister, and Valdis Dombrovskis, executive vice president of the European Commission, have agreed to discuss the EU’s anti-subsidy investigations into Chinese EVs. China is pushing for the EU to revoke their tariff decision by the Fourth of July and “adhere to World Trade Organization rules” as a result of this discussion.
The EU has placed tariffs of thirty-eight percent on Chinese EV imports and they are set to begin on the Fourth of July, but that’s if they do not come up with an alternative resolution. This does not include the ten percent of tariffs that are already imposed, so the total would be almost fifty percent tariffs on Chinese-made electric vehicles that are imported. The report said that scrapping the tariffs would benefit both sides, especially since each country is dependent on each other and cooperation was “huge.”
This discussion will allow China to bring in its own countermeasures and debate over a solution that would benefit them both equally. Experts have said that if they do not come up with a resolution, both of them will lose.
China has continually opposed the tariffs, saying that imposing them was “blatant protectionism” and that it could potentially violate the World Trade Organization rules. A Chinese official said that the EU’s probe into Chinese electric vehicles was overly selective and that the results weren’t necessarily credible.
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