China is hitting the brakes on Türkiye's decision to slap extra tariffs on Chinese-made vehicles, and it's not happy about it! 🚫🇨🇳
Last week, Türkiye announced a hefty 40% import duty on fuel and hybrid passenger cars from the Chinese mainland, set to kick in early July. This comes hot on the heels of a similar move against electric vehicles from China—a decision that Beijing has protested more than once.
China's Ministry of Commerce didn't mince words. In a statement released on Friday, a spokesperson expressed strong dissatisfaction and firm opposition to Türkiye's new tariffs. \"We'll take all necessary measures to defend the legitimate rights and interests of our enterprises,\" the spokesperson declared.
So, what's the big deal? 🤨
The additional duties target only Chinese vehicles, putting them at a serious disadvantage compared to cars from other World Trade Organization (WTO) members. This selective treatment is a no-go under WTO rules, which are all about fair play and non-discrimination. By singling out Chinese products, Türkiye is violating the principle of \"most-favored-nation\" treatment—a core WTO guideline.
But there's more at stake than just policy papers. 📄
Türkiye's moves are sending shockwaves through the business community. Not only do they hurt cooperation between companies and consumers in Türkiye, but they also make Chinese businesses think twice about investing there. It's like throwing a wrench into the engine of Chinese-Turkish economic relations. 🔧
China is calling on Türkiye to steer away from these \"discriminatory tariff measures\" ASAP. The goal? To get back on track and promote healthy economic and trade ties between the two nations. 🌐
Will Türkiye hit the brakes on the tariffs? Stay tuned! 📺
Reference(s):
China firmly opposes Turkish tariff hike on Chinese vehicles
cgtn.com
