China is revving up its engines against the EU's decision to impose tariffs on Chinese electric vehicles (EVs). 🚗💨
On Friday, China's Ministry of Commerce (MOFCOM) expressed strong opposition to the European Union's plan to slap anti-subsidy tariffs on Chinese EVs. The EU's move came after a recent vote swung in favor of the measure.
MOFCOM didn't hold back, labeling the EU's decision as unfair and unreasonable. They emphasized that such protectionist moves aren't the way to go and firmly rejected the proposed tariffs.
The EU Commission announced that with 10 member states in favor, 5 opposing, and 12 abstaining, it now has the green light to impose hefty anti-subsidy duties on Chinese EV imports for the next five years.
But it's not all bumps in the road! 🛣️ Both sides seem keen to keep talking. The EU mentioned that they're open to negotiating with China to find solutions that are compliant with World Trade Organization (WTO) rules. They want to address the subsidies found in their investigation in a way that's fair and enforceable.
MOFCOM acknowledged this olive branch, noting the EU's willingness to continue negotiations. In fact, technical teams from both sides are set to resume talks on October 7th. 🗓️
The China Chamber of Commerce to the EU (CCCEU) also chimed in, expressing deep disappointment with the vote's outcome. They urged the EU to hit the brakes on implementing the tariffs and to focus on resolving trade tensions through dialogue.
China hopes the EU realizes that slapping tariffs won't solve the problem. Instead, MOFCOM is urging for concrete actions to fulfill political commitments and get back on the right track of resolving disputes through friendly chats. 🤝
And just to keep things interesting, China made it clear: they'll do whatever it takes to protect their businesses' interests.
(With input from Reuters)
Reference(s):
China opposes EU tariffs on EVs, urges resolution through negotiation
cgtn.com
