The European Commission notified car makers on Wednesday (June 12) it would apply additional duties of up to 38.1% on imported Chinese electric vehicles from next month, a move likely to draw possible retaliation from China.
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NewsTranscript
00:00Today at the college, Executive Vice President
00:28Valdez-Dombrowskis presented to the college the provisional results of the ongoing investigation
00:37into the battery electric vehicles value chain in China.
00:43In particular, this value chain benefits from unfair subsidiarization, which is causing a
00:53threat of economic injury to EU battery electric vehicles producers.
01:00On this basis, the Commission has reached out to the Chinese authorities to discuss
01:07these findings and explore possible ways for resolving the issues identified.
01:16The Commission has also predisclosed today the level of provisional countervailing duties
01:26it would impose on imports of battery electric vehicles from China.
01:40I would like to emphasize that this anti-subsidiary investigation is a typical protectionist approach.
01:47The EU is using this as a pretext to increase tariffs on battery electric vehicles from China,
01:52to violate market economic principles and international trade rules,
01:57to damage the stability of the China-EU trade cooperation and global vehicle production chain,
02:02and ultimately to damage the interests of Europe itself.
02:05We have noticed that in recent times, representatives of the European Union have expressed opposition
02:12to the European Commission's investigation into the EU battery electric vehicle value chain.
02:15They believe that it is a wrong approach to try to protect the European industry by increasing
02:20tariffs on China's battery electric vehicles.
02:22Protectionism has no future.
02:25Open cooperation is the right path.
02:28We urge the EU to uphold its commitment to support free trade and oppose protectionism,
02:34and to maintain the overall situation of China-EU trade cooperation with China.
02:38China will take all necessary measures to safeguard its legitimate rights.