Posted on 12 Sep 2024
China’s vice minister of commerce Li Fei met European Commission officials in Brussels this week to discuss the proposed countervailing import duties on China-made BEVs.
A spokesperson for the ministry said on 11 September that the vice minister held talks with Anthony Weyand, director-general of the EC’s Directorate-General for Trade, in hopes to resolve the bilateral “frictions and reasonably accommodate each other’s concerns.”
“The EV anti-subsidy case is complex and has a wide impact,” the commerce ministry says. “It is challenging for China and the EU to reach a consensus through consultation.”
However, Beijing says it is willing to continue to work closely with the EU to reach a solution that is in the common interests of both sides and in line with WTO rules “as soon as possible.” It is unclear what tariff levels would be considered fair, if any.
The meeting took place a day before Reuters reported that the EC is planning to revise the proposed countervailing duties once more. Citing unnamed sources close to the matter, the report said the extra tariffs on Tesla will drop to 7.8% from 9%.
Though BYD would see no changes to its 17% tariff, Geely imports – which include those of Polestar and Volvo Cars – would be reduced from 19.3% to 18.8%. SAIC and other “non-cooperating companies” would be trimmed to 35.3% from 36.3% previously. These are all on top of the current 10% import levy.
EU member states will vote on the proposed duties next month. If not rejected by the majority, the countervailing tariffs will be valid for five years.
On Wednesday, Prime Minister Pedro Sánchez told a press conference in Kunshan, China that it was important to find a “compromise” between the EU and China, Kallanish Power Materials notes.
“I have to be blunt and frank … I think we need to reconsider, all of us, not only member states, but also the [European] Commision, our position towards this movement,” he says. “We don’t need another war, in this case a trade war.”
During his state visit to China this week, Sanchez also met Chinese President Xi Jinping and the presidents of automotive players Chery, SAIC and Hunan, which plan EV investments in Spain.
Source:Kallanish Power Materials
