- China holds discussions with the automotive sector concerning import tariffs on fuel.
China is giving thought to imposing higher import taxes on foreign automakers, specifically those with large-engined gasoline cars. The Ministry of Commerce organized a get-together with industry experts, associations, and representatives to gather thoughts and suggestions on this matter, as declared in Beijing. No additional details were made available about the attendees or the meeting's outcomes.
Following the EU's recent adjustment to its extra tariffs on Chinese electric vehicles, which has displeased Beijing, China is considering implementing another measure. The European Commission believes that Chinese subsidies on electric vehicles from the East are creating unfair market conditions in the European Union.
The Chinese Chamber of Commerce in Brussels had signaled a potential increase in tariffs on imported cars as early as May, in response to the anticipated additional tariffs. It was suggested at the time that the affected vehicles could be subject to a 25 percent duty.
This potential measure would negatively impact European and American car manufacturers, especially given the current situation. German automakers would be particularly affected by any import tariffs.
The US has already imposed significant tariffs on Chinese electric vehicles. It remains to be seen whether the EU will follow suit. The Commission has until the end of October to make a decision, taking into account the views of the 27 EU member states.
China has strongly criticized the EU's actions, labeling them as protectionist and detrimental to European consumers' interests. Simultaneously, China is conducting anti-subsidy investigations on certain EU imports, including spirits, pork, and certain dairy products.
In light of the EU's escalated tariffs on Chinese electric vehicles, China is contemplating retaliation through higher import taxes on foreign trade goods, such as cars. This foreign trade action could potentially affect numerous automakers, particularly those from the EU and the United States.
