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China Considers Import Tariffs On Foreign Vehicles
China’s Ministry of Commerce has met with auto industry leaders to gather opinions and suggestions on the possible imposition of import tariffs on foreign vehicles. The outcome of the meeting was not disclosed.
The potential tariffs would be a countermeasure by China to higher tariffs imposed by the European Union and the United States on Chinese-made electric cars. The United States already raised tariffs on Chinese electric vehicles to more than 100 percent in May.
The European Commission recently announced that it wants to make the import of electric cars made in China up to 36 percent more expensive. These levies are on top of the 10 percent import duties that already apply to electric cars from China. With the higher import duties, the Commission wants to put an end to unfair competition from China, because Beijing subsidizes its own car manufacturers.
China, in turn, has accused the EU of protectionism and harming the interests of consumers in Europe. It also appealed to the World Trade Organization (WTO) against the tariff hike. China is also investigating EU subsidies for some dairy products, pork and spirits from Europe that Beijing imports.
