The reaction from China and others embroiled in the dispute, including European and Chinese car makers, points to clear opposition to the EU decision and an eagerness to de-escalate the situation
European Commission announced on Wednesday it would impose extra duties of up to 38.1 per cent on imported Chinese electric cars from July. (Photo: Shutterstock)
Beijing hopes the European Union will reconsider tariffs on Chinese electric vehicles and stop going further in the “wrong direction” to shield its auto industry from competition, according to state news agency Xinhua.
The reaction from China and others embroiled in the dispute, including European and Chinese car makers, points to clear opposition to the EU decision and an eagerness to de-escalate the situation.
Industry insiders say both Europe and China have reasons for wanting to strike a deal in the months ahead to avoid the addition of billions of dollars in new costs for Chinese electric car makers, as the EU process allows for review.
China said it would take measures to safeguard its interests after the European Commission announced on Wednesday it would impose extra duties of up to 38.1 per cent on imported Chinese electric cars from July.
“In light of their economic structure and sheer size, China and the EU are best served by teaming up on major economic and trade issues”, Xinhua said in a commentary.
Brussels seemed to have left some room for the two sides to continue their consultations to find a solution and avoid the worst scenario, the Xinhua commentary added.
“It is hoped the EU will make some serious reconsideration and stop going further in the wrong direction”, it said.
Beijing has rejected the EU and US argument that China’s EV industry is running at a degree of overcapacity that threatens overseas automakers through subsidised exports.
