China wants EU to scrap higher tariffs and ‘abide by WTO rules’ | Wilnesh News

China hopes the EU will revoke its decision to impose temporary tariffs on Chinese electric vehicles after both sides agreed to hold new negotiations. Global Times report on Sunday.

Beijing said in a statement that Chinese Commerce Minister Wang Wentao and European Commission Executive Vice President Valdis Dombrovskis agreed to start discussions on the EU’s anti-subsidy investigation into Chinese electric vehicles. statement Saturday.

According to the Global Times, citing observers, the ideal outcome China hopes is for the European Commission to revoke its tariff decision before July 4 and comply with World Trade Organization rules.

The European Commission said in a statement that if discussions with Chinese authorities fail to reach a solution, the EU will impose temporary tariffs of up to 38.1% on imported electric vehicles from China on July 4. statement earlier this month.

This is outside the standard A 10% tariff has been imposed on imported electric vehicles.

The report quoted observers as saying that the decision to lift tariffs on Chinese electric vehicles would be beneficial to both sides, adding that economic and trade cooperation between China and the EU is “huge” and both sides are mutually dependent.

Experts warned that the EU’s move would invite countermeasures from China, adding that unless the situation was resolved, both sides would suffer.

China firmly opposes additional tariffs The move is “blatant protectionism” China’s Ministry of Commerce said on June 14 that this may violate WTO rules. A Chinese official told CNBC last week that the EU’s investigation into Chinese electric vehicles was too selective and the results were not credible.

read full report In the Global Times.