Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%USDC1.000.01%BNB287.900.44%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Chinese automakers want 25% EU tariff – state media

Listen to the article now

image credit:psyc.org

Chinese automakers allegedly demanded 25% import taxes on EU rivals’ automobiles if tariffs are imposed on Chinese vehicles during a closed-door meeting.
European carmakers demanded it at China’s Ministry of Commerce’s closed-door meeting.
This legislation targets EU cars with large petrol engines.
Last week, the EU threatened Chinese EV firms with 38% tariffs beginning July 4.
CCTV’s social media feed reported four Chinese and six European automakers at the Beijing meeting.
Volkswagen said BBC it attended the conference but would not comment on the topics.
BMW and Porsche, among other European companies, declined BBC requests for comment.
“China’s car companies called on the government to adopt firm countermeasures against the EU,” the survey said.
“It is suggested that within the limits allowed by Word Trade Organization rules, a higher provisional tariff be imposed on large-displacement petrol vehicles imported from Europe.”
Last month, the state-run Global Times proposed 25% taxes on gasoline cars above 2.5 liters.
For “luxury or ultra-luxury” cars, “an additional tax is not likely to make much of a difference on volumes,” Automobility expert Bill Russo told the BBC.

The European Commission (EC) “provisionally concluded” on Monday that Chinese EV companies may face tariffs “should discussions with Chinese authorities not lead to an effective solution.”
Compliance with the October inquiry would cost firms 21%, while noncompliance might cost 38.1%.
These levies would supplement China’s 10% electric car tax.
Last month, the US brazenly hiked its tariff on Chinese electric cars from 25% to 100%, prompting EU intervention.
Chinese officials have called the judgments protectionist and retaliated.
China started scrutinizing European pork supplies last week.
China started probing EU and US chemical exports last month.

 


Comment Template

You May Also Like

Business

Elon Musk’s directive for federal employees to justify their work in five bullet points or face resignation has sparked outrage. Unions and legal experts...

Business

MSG Networks has returned to Optimum after a nearly two-month blackout, restoring Knicks and Rangers coverage for frustrated fans. The new deal places MSG...

Business

Alphabet has introduced **Premium Lite**, a lower-cost YouTube subscription offering ad-free videos (excluding music). This move aims to expand YouTube’s subscriber base and reduce...

Business

India has been named the best solo travel destination for 2025 by Kensington, thanks to its rich culture, history, and diverse experiences. From the...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok