Post by account_disabled on Feb 20, 2024 1:03:10 GMT -6
Tesla and European carmakers exporting from China to the EU will come under scrutiny as the bloc investigates whether the country's electric vehicle industry is receiving unfair subsidies, Brussels' top trade official said. EU Executive Vice President Valdis Dombrovskis said on Tuesday there was "sufficient prima facie evidence" to justify the investigation into imports from China of battery-powered vehicles, which Brussels fears could overwhelm the EU's car industry. block. "Strictly speaking, it is not limited only to electric vehicles from Chinese brands, it can also affect vehicles from other manufacturers if they receive subsidies for production," Dombrovskis said in an interview, responding to a question about whether Tesla or Geely, the owner of the Swedish Volvo, could be under investigation. He spoke to the Financial Times at the conclusion of a five-day trip to Beijing, during which he said his Chinese counterparts constantly pressed him about the investigation.
The EU's announcement this month of the anti-subsidy investigation days before Dombrovskis' visit opened a new front in recent tensions between the two trading superpowers. The EU was "open Job Function Email Database to competition" in the electric vehicle sector, but "competition must be fair," Dombrovskis said, adding that other major economies had already introduced tariffs on battery electric vehicles from China. "The EU is now probably the biggest open market for Chinese producers," he said. During the visit, Dombrovskis pursued an ambitious agenda to try to persuade Beijing to dismantle what European companies say are hundreds of trade barriers that contributed to a record trade deficit last year of nearly $400 billion. Both sides said they made some progress with Dombrovskis' visit, announcing a "mechanism" on Monday night to discuss export controls - mirroring a similar effort between Beijing and Washington.
Agreement by China to buy more goods. EU agricultural products. China also pledged to prioritize resolving issues such as delays in approving licenses for European infant formula manufacturers and barriers to imports of luxury goods. But Beijing also made clear its displeasure with the anti-subsidy investigation. Dombrovskis said his counterparts raised the issue at every meeting. Chinese Commerce Minister Wang Wentao told Dombrovskis that the rapid development of China's electric vehicle sector had been the result of innovation in research and development, free competition and a "complete industrial system." “Wang Wentao expressed serious concern and strong dissatisfaction with the EU launching an anti-subsidy investigation into Chinese electric vehicles,” the Trade Ministry said, accusing Brussels of “protectionism” that would affect environmental cooperation and stability. of global automobile supply. chains.
The EU's announcement this month of the anti-subsidy investigation days before Dombrovskis' visit opened a new front in recent tensions between the two trading superpowers. The EU was "open Job Function Email Database to competition" in the electric vehicle sector, but "competition must be fair," Dombrovskis said, adding that other major economies had already introduced tariffs on battery electric vehicles from China. "The EU is now probably the biggest open market for Chinese producers," he said. During the visit, Dombrovskis pursued an ambitious agenda to try to persuade Beijing to dismantle what European companies say are hundreds of trade barriers that contributed to a record trade deficit last year of nearly $400 billion. Both sides said they made some progress with Dombrovskis' visit, announcing a "mechanism" on Monday night to discuss export controls - mirroring a similar effort between Beijing and Washington.
Agreement by China to buy more goods. EU agricultural products. China also pledged to prioritize resolving issues such as delays in approving licenses for European infant formula manufacturers and barriers to imports of luxury goods. But Beijing also made clear its displeasure with the anti-subsidy investigation. Dombrovskis said his counterparts raised the issue at every meeting. Chinese Commerce Minister Wang Wentao told Dombrovskis that the rapid development of China's electric vehicle sector had been the result of innovation in research and development, free competition and a "complete industrial system." “Wang Wentao expressed serious concern and strong dissatisfaction with the EU launching an anti-subsidy investigation into Chinese electric vehicles,” the Trade Ministry said, accusing Brussels of “protectionism” that would affect environmental cooperation and stability. of global automobile supply. chains.