China Mulls Increasing Tariffs For Imported Large CC Fuel Cars

18/10/2024 05:50 - 32 Views

China’s Ministry of Commerce (MOC) said Thursday that China is studying measures to increase tariffs on imported fuel-powered vehicles with large-displacement engines. The ministry said the decision will be made ‘prudently’ after comprehensive consideration of various factors, MOC spokesperson He Yadong told a press conference.

This move also comes after the European Union and USA slapping heavy tariffs on China made electric vehicles which EU said was due to manufacturers being heavily subsidised by the Chinese government and killing European car makers.

However, China has refuted the claims and accused the EU of protectionism, it also waned of repercussion if the bloc went ahead with the new tariffs.

Recently, China raised the tariff on European brandy accusing the foreign brands of stifling local manufacturers.

Source: Business Today