Posted on 18 Sep 2024
The deadline for Chinese EV manufacturers to offer minimum import prices in a bid to avoid tariffs has passed, the European Commission said Monday.
Following its anti-subsidy investigation on Chinese-made battery electric cars, Brussels is working to impose countervailing duties on imports from China. The additional tariffs vary according to the company’s level of exposure to Chinese subsidies, the EC says.
Last week, the EC said it had received offers from EV makers in China for minimum import prices into the EU, all of which the EC rejected. Several manufacturers had submitted price undertakings – a commitment made by an exporter to respect minimum import prices to offset subsidies – the EC noted. However, a review by the commission found the offers did not meet the requirements to “eliminate the injurious effects of subsidies and could be effectively monitored and enforced.”
On Monday, an EC spokesperson told a press briefing that the deadline for submitting such offers was 24 August and there was “no possibility” of offering new price undertakings beyond the deadline.
“The Commission is not open to new submissions for price undertakings,” the spokesperson confirmed to Kallanish Power Materials.
According to Brussels, all the price undertakings from the Chinese automakers came on 24 August, the day of the deadline. “The Chinese automakers in question have had many weeks before the deadline to make this type of price undertaking,” the spokesperson continued during the briefing. “Had they done so at an earlier stage that would have allowed for meaningful engagement on the topic.”
Yet, the EC reiterates that it remains open “to a negotiated solution, but any such solution must fully comply with WTO rules and fully remedy the injurious effects of subsidies identified in our investigation.”
EU member states are expected to vote on the final tariff level on 25 September. If cleared, the EU will impose tariffs of up to 35.3% on Chinese BEVs, on top of the standard 10% car import duty.
Source:Kallanish Power Materials
