EU set to allow possible retroactive tariffs for Chinese EVs
THE European Commission plans to start customs registration of Chinese electric vehicle (EV) imports, meaning they could be hit by tariffs from that point if the European Union’s (EU) trade investigation later concludes that they are receiving unfair subsidies.
The Commission is carrying out an anti-subsidy investigation into Chinese battery EVs to determine whether to impose tariffs to protect EU producers. The probe is due to conclude by November, although the EU could impose provisional duties in July.
In a document published on Tuesday (Mar 5), the Commission said it had sufficient evidence tending to show Chinese EVs were being subsidised and that imports had increased by 14 per cent year-on-year since the investigation was formally launched in October.
It said EU producers could suffer harm, which would be difficult to repair, if Chinese imports continued at this accelerated rate before the conclusion of the investigation.
Registration will start the day after the plan is published in the EU official journal, which is likely to be in the coming days.
The China Chamber of Commerce to the EU said that it was disappointed by the move and that the surge of imports reflected increasing European demand for EVs. REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources