China Auto Group 'Strongly Dissatisfied' with EU's Anti-Subsidy Tariffs
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China Automobile Association Expresses Discontent Over EU Anti-Subsidy Tariffs
The China Association of Automobile Manufacturers (CAAM) has voiced strong dissatisfaction with the European Union's recent anti-subsidy tariffs proposal, as revealed in a statement issued on Saturday. Despite manufacturers' cooperation with the European Commission's investigation into alleged Chinese subsidies, CAAM claims the inquiry disregarded factual evidence.
According to the association, the investigation was flawed from the start, with results seemingly preselected. This sentiment was shared on WeChat, a popular Chinese messaging app. The EU has enforced tariffs as high as 37.6% on imports of electric vehicles (EVs) produced in China starting from Friday. These tariffs are provisional for a four-month period, during which intense negotiations are expected to take place between the two parties.
CAAM expressed deep regret and deemed the move firmly unacceptable. The interim duties, ranging from 17.4% to 37.6% without retroactive effect, are intended to stave off what European Commission President Ursula von der Leyen described as a potential influx of inexpensive Chinese EVs benefiting from state subsidies. The investigation by the EU into these subsidies is set to continue over the next several months.
As the situation unfolds, all eyes will be on the negotiations between the EU and Chinese representatives, with the hope that a mutually beneficial resolution can be achieved.
