Beijing Responds as Europe Strikes Blow to China's Economy
==========
Beijing denounces Europe's decision to increase tariffs on Chinese electric vehicles to as much as 48 percent, calling it a 'naked protectionist act' that will disrupt the international automotive industry. The European Commission determined that China's subsidies give its battery electric vehicle value chain an unfair advantage. China's Ministry of Commerce criticizes the ruling, stating that it lacks factual and legal basis and accuses the EU of exaggerating the threat of Chinese state subsidies. The new duties are scheduled to take effect in early July, and China has already launched anti-dumping inquiries on European brandies and industrial plastics. The move by Europe could further intensify trade tensions, and China vows to take necessary measures to defend the rights and interests of Chinese companies.
#China #Europe #Tariffs #ElectricVehicles #TradeTensions
https://www.newsweek.com/china-responds-european-union-tariffs-1912055
Newsweek /
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2024-06-13 10:41:57
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2024-06-13 10:41:57Event JSON
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"content": "Beijing Responds as Europe Strikes Blow to China's Economy\n==========\n\nBeijing denounces Europe's decision to increase tariffs on Chinese electric vehicles to as much as 48 percent, calling it a 'naked protectionist act' that will disrupt the international automotive industry. The European Commission determined that China's subsidies give its battery electric vehicle value chain an unfair advantage. China's Ministry of Commerce criticizes the ruling, stating that it lacks factual and legal basis and accuses the EU of exaggerating the threat of Chinese state subsidies. The new duties are scheduled to take effect in early July, and China has already launched anti-dumping inquiries on European brandies and industrial plastics. The move by Europe could further intensify trade tensions, and China vows to take necessary measures to defend the rights and interests of Chinese companies.\n\n#China #Europe #Tariffs #ElectricVehicles #TradeTensions\n\nhttps://www.newsweek.com/china-responds-european-union-tariffs-1912055",
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