EU votes in favour of hefty tariffs on China-made EV imports
Adds EU Commission, Germany, Italy Spain, French and German car associations
LONDON, Oct 4 (Reuters) -The European Union backed tariffs of up to 45% on imported Chinese electric vehicles (EVs) on Friday as it looks to counter Beijing’s subsidies for automakers now targeting Europe.
Here is political and industrial reaction to the news:
EUROPEAN COMMISSION PRESIDENT URSULA VON DER LEYEN:
“The electric vehicle sector holds huge potential for Europe's future competitiveness and green industrial leadership.
"EU car manufacturers and related sectors are already investing and innovating to fully develop this potential. Wherever we find evidence that their efforts are being impeded by market distortions and unfair competition, we will act decisively.
"And we will do this in full respect of our EU and international obligations - because Europe plays by the rules, within its borders and globally. This anti-subsidy investigation will be thorough, fair, and fact-based.”
GERMAN FINANCE MINISTER CHRISTIAN LINDNER ON X:
The EU Commission "should not trigger a trade war despite the vote in favour of possible punitive tariffs against China. We need a negotiated solution."
SPAIN'S ECONOMY MINISTER CARLOS CUERPO:
"Beyond the imposition of tariffs, we have to continue going forward in this negotiation, since it is important to protect a sector as strategic as the automobile sector while avoiding an escalation of trade measures, which could be detrimental to all."
ITALY'S INDUSTRY MINISTER ADOLFO URSO:
"We are against any hypothesis of a 'trade war' and will work together to avoid it. We must preserve the industrial and commercial partnership with China, with whom we want to continue working in a win-win logic based on the principle of reciprocity, also for the sake of global economic stability".
SWEDEN'S MINISTER FOR FOREIGN TRADE BENJAMIN DOUSA:
"We have had very positive signals just recently from the Commission that they hopefully could go ahead with individual solutions for the auto industry and for Volvo Cars specifically."
"Sweden's line is that the best thing would be that China and the EU together can come to an agreement in relation to this problem."
HUNGARIAN PRIME MINISTER VIKTOR ORBAN:
"What they are making us do right now, or what the EU wants to do, is an economic cold war."
SPOKESPERSON FOR THE FRENCH AUTOMAKERS ASSOCIATION (PFA):
"It is a good thing that a decision has received support from member states for the adoption of customs duties. We are in favour of free trade but within the framework of fair rules."
BMW BMWG.DE CEO OLIVER ZIPSE:
"Today's vote is a fatal signal for the European automotive industry. What is needed now is a quick settlement between the EU Commission and China to prevent a trade conflict from which no one gains."
"The fact that Germany voted against the tariffs is an important signal and increases the chances for a negotiated settlement."
VOLKSWAGEN VOWG_p.DE:
"We stand by our position that the planned tariffs are the wrong approach and would not improve the competitiveness of the European automotive industry."
"We appeal to the EU Commission and the Chinese government to constructively continue the ongoing negotiations for a political solution."
GEELY HOLDING GEELY.UL:
"Geely Holding expresses great disappointment in the Commission's decision. The decision (...) is not constructive and may potentially hinder EU-China economic and trade relations, ultimately harming European companies and consumer interests."
GERMAN CAR LOBBY VDA PRESIDENT HILDEGARD MUELLER:
"The proposed tariffs would not only further increase the risk of a mutual trade conflict, but would also make vehicles considerably more expensive for consumers. The potential damage that could be caused by countervailing duties is therefore greater than the potential benefits of the instrument.
"Increasingly sealing off the market is not an option for the European - and in particular the German - automotive industry."
SAIC 600104.SS UNIT MG MOTOR FRANCE:
"Today, the European Commission is planning to excessively tax the 100% electric vehicles offered by MG in France, thereby slowing down the transition to more virtuous individual mobility which the same Commission has called for by 2035."
"Faced with this situation, MG Motor France has decided not to penalise its customers in 2024, and to maintain the list prices of its 100% electric models, the only ones affected by the vote on Friday October 4, without even waiting for the result."
Reporting by Reuters reporters; compiled by Josephine Mason; editing by David Evans and Jason Neely
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हमारी ऑनलाइन व्यापार सुविधा में प्रकाशित सभी सामग्रियाँ शैक्षणिक/सूचनात्मक प्रयोजनों मात्र के लिए हैं, और इनमें वित्तीय, निवेश टैक्स या व्यापार सलाह और सुझाव नहीं हैं - न ही ऐसा समझना चाहिए कि इनमें ये सब हैं; न ही इनमें हमारी व्यापार कीमतों का अभिलेख है; न ही इनमें किसी वित्तीय उपकरण में लेन-देन करने का निमंत्रण या अनुरोध है; न ही ये आपको अवांछित वित्तयी प्रोमोशन पेश करती हैं।
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