China files complaint at WTO over EU tariffs on Chinese Evs

08/11/2024 03:45 - 4 Views

China has lodged a formal complaint with the World Trade Organization (WTO), protesting the European Union's decision to impose anti-subsidy tariffs on Chinese electric vehicles (EVs).

In a statement, China's mission to the WTO emphasized its strong opposition to the EU's measures, asserting that they unfairly target Chinese-made EVs and hinder global progress toward green technology adoption.

Last month, the EU announced new import duties of up to 35% on Chinese EVs, arguing that subsidies from the Chinese government were allowing exporters to sell vehicles at lower-than-market prices in Europe. These tariffs are expected to be in place for five years, though both sides have indicated a willingness to negotiate.

Electric vehicles have become a key sticking point in escalating trade tensions as the EU seeks to counter what it sees as China's subsidy-driven advantage in green technology.

China's complaint argues that the EU's actions are "protectionist" and misuse trade regulations in violation of WTO rules. The EU, however, maintains that tariffs are a balanced response that ensures fair competition and safeguards the European industry.

Source: Big News Network