HONG KONG (Reuters) – The China Association of Automobile Manufacturers (CAAM) strongly opposes the EU’s new tariffs on electric vehicles imported from China, state broadcaster CCTV reported on Wednesday.
The European Commission on Tuesday adjusted marginally the additional customs duties intended to correct the effect of the significant subsidies that it says benefit imported Chinese electric vehicles, reduced to a maximum of 36.3% against 37.6% in the previous version, except for Tesla which benefited from a significant reduction.
The tariff decision brings “huge risks and uncertainties” to China’s operations and investments in the European Union, the association said, according to CCTV.
The high level of tariffs has “damaged the confidence of Chinese companies operating and investing in Europe,” the CAAM told CCTV. This will have a “serious negative impact on the development of the EU’s automobile industry, the expansion of local employment opportunities and the achievement of green and sustainable development.”
(Reporting by Farah Master and the Beijing office, Gilles Guillaume for the , edited by Zhifan Liu)
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
