Posted on 10/04/2024 9:36:56 AM PDT by SeekAndFind
* The European Union on Friday voted to adopt definitive tariffs on China-made battery electric vehicles (BEVs).
* "Today, the European Commission's proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from EU Member States for the adoption of tariffs," the EU said in a statement.
* The EU added that it was still working in China to look for "an alternative solution" even as the tariffs are adopted.
The European Union on Friday voted to adopt definitive tariffs on China-made battery electric vehicles (BEVs).
"Today, the European Commission's proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from EU Member States for the adoption of tariffs," the EU said in a statement.
The EU first announced that it would slap higher tariffs on Chinese electric vehicle imports in June, on the grounds that they benefited "heavily from unfair subsidies" and posed a "threat of economic injury" to electric vehicle producers in Europe.
Duties were also disclosed for individual companies, depending on the extent of their cooperation with the probe. Provisional duties were put in place from early July, but were revised in September based on "substantiated comments on the provisional measures" from interested parties.
In a statement out Friday, the China Chamber of Commerce to the EU expressed "deep disappointment with this voting outcome," adding that it is "strongly dissatisfied with the EU's adoption of protectionist trade measures."
The chamber also called on the EU to be "cautious" about final measures, to delay their implementation and to focus on finding solutions through negotiations. The EU had said Friday it was still looking for other solutions, even as the tariffs are adopted.
(Excerpt) Read more at msn.com ...
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Dims always love what the Europeans do. Let’s see if they line up with Trump on THIS one!
What a concept.
BYD is building a manufacturing plant in Turkey. This will bypass the tariffs.
Only the UAW is keeping them from America. Partially, at least.
Tesla spiked up almost $100 bucks a share in a month.
Trump’s leadership.
https://www.utilitydive.com/news/joe-biden-china-tariff-hikes-ev-battery-semiconductor-final/727014/
VW-Porsche-Audi have already scaled back their EV production.
The Brits sank their car industry with high deprecation rates.
Germany doesn’t want to follow that path.
“The Brits sank their car industry with high deprecation rates.”
The British car industry imploded because of toxic labor relations and inept management. I toured the Rover factory in Cowley in the early 1990s. It was reduced to producing re-badged Hondas. Honda robots were doing most of the exterior welding, assembly and paint work, but I noticed a team of workers manually fitting the boot lid. I asked the tour guide why robots weren’t doing that work as well. He said that there were negotiated minimum staffing levels at the factory, and the workers had to be given something to do.
I thought all EVs were BEVS...??? Anyway, the tariffs are probably not a bad idea if they are basically a little “underpriced”.
“BYD is building a manufacturing plant in Turkey. This will bypass the tariffs”
Pfft...if there’s a will there is a way.
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