EU imposes 45% tariffs on EVs from China, risking retaliation

Quick Summary:

The European Union has imposed higher tariffs peaking at 45 percent on electric vehicles from China, ratcheting up trade tensions between the world’s leading export powers.

People familiar with the discussions said Beijing had yet to put forward proposals that meet the EU’s strict requirements, including alignment with World Trade Organization rules and matching the effect of the duties.

Earlier this week, Volkswagen AG’s top labor leader said Europe’s biggest automaker plans to close at least three factories in Germany.The EU and its No.2 goods trading partner will continue discussions aimed at seeking alternative solutions even after the tariffs take effect, but those talks have so far failed to yield a breakthrough.

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Article Details

Author / Journalist: BusinessMirror

Category: BusinessStartups

Markets: PhilippinesChinaGermanyJapanSingapore

Topics: People Talks Trade Beijing European Percent Chinese China Exports Been Tariffs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 09:19:08 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 1138 words

Reading Time: 7 minutes read

Sentences: 36 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23336605

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 22 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 9 hours ago

Coverage Areas: Philippines

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Publication Timezone: GMT +8:00

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Publisher ID: #37

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