https://sputnikglobe.com/20240609/trade-war-with-china-us-forcing-eu-to-shoot-itself-in-the-foot-again-1118884766.html
Commerce Warfare With China: US Forcing EU to Shoot Itself within the Foot, Once more
Commerce Warfare With China: US Forcing EU to Shoot Itself within the Foot, Once more
Sputnik Worldwide
The Chinese language media issued a warning to the European Fee (EC) in regards to the potential imposition of tariffs on China’s electrical automobiles (EV) in Europe. Will Brussels lend a sympathetic ear or fall right into a sanctions lure?
2024-06-09T15:00+0000
2024-06-09T15:00+0000
2024-06-09T15:00+0000
us
europe
china
beijing
washington
olaf scholz
ulf kristersson
herbert diess
european fee
european union (eu)
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The European Fee is getting ready to announce its conclusions following a months-long anti-subsidy inquiry into Chinese language electrical automobiles.In line with some estimates, Chinese language EVs are round 20 % cheaper than their European counterparts. The worth hole has prompted the Fee to think about further tariffs — on the pretext that Chinese language automobile makers obtain state support, which the European Union courses as an “unfair benefit”.The probe was launched regardless of the Fee receiving no formal complaints from the European car-making business. Within the absence of precise hurt accomplished, it focuses on the “potential” menace from the inflow of low-cost Chinese language EVs to the European market.The World Instances, an English-language Chinese language each day, burdened that the Fee’s transfer seems to be extremely unpopular throughout the bloc. It quoted to German Chancellor Olaf Scholz’s September 2023 remarks that German carmakers mustn’t worry their Asian rivals, and Swedish Prime Minister Ulf Kristersson’s Might 14 warning that “a wider commerce warfare the place we block one another’s merchandise is just not the way in which to go.”Bloomberg cited European auto-manufacturers additionally warning towards the transfer.Final month, Stellantis Chief Government Officer Carlos Tavares referred to as potential tariffs towards Chinese language EVs a “huge lure” that would speed up inflation. Mercedes CEO Ola Kallenius said earlier this month that Europe ought to resist the decision for protectionist measures, whereas former Volkswagen CEO Herbert Diess famous final week that slapping tariffs on Chinese language EVs may postpone the Europe’s transition to wash vitality and spark a harmful worldwide commerce warfare.Western carmakers’ issues are comprehensible provided that Volkswagen, Porsche, BMW, Mercedes and others revenue from gross sales in China. Many German corporations produce their automobiles within the Individuals’s Republic the place vitality and labor are less expensive than in Europe.In mid-Might the Biden administration introduced further tariffs on Chinese language-made electrical automobiles, photo voltaic panels, semiconductors, metal and different merchandise. Chinese language EVs shipped to the US now face a whopping one hundred pc import tax.The Chinese language each day mentioned it was no coincidence that the Fee’s announcement will likely be made following the European Parliament elections from June 6 to 9, as tariffs would trigger “appreciable losses for EU companies and customers.”Bloomberg shed some gentle on what Beijing may do in response to Brussels’ punitive measures:Europe now finds itself between a rock and a tough place. It has already adopted Washington’s go well with in introducing sweeping sanctions towards Russia — which then backfired resulting in de-industrialization in some former industrial powerhouses, corresponding to Germany. The European bloc is claimed to have rebounded from a “gentle recession,” however its 0.3 % GDP development within the first quarter of 2024 seems weak. The West’s commerce warfare towards China may deal a brand new blow to the European economic system. The query is how lengthy the EU will proceed to hurt its personal pursuits below Washington’s steering.
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https://sputnikglobe.com/20240506/us-forces-eu-to-disrupt-relations-with-china-to-europes-detriment-1118292994.html
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eu’s looming commerce warfare with china, ec considers further tariffs on chinese language electrical automobiles, chinese language evs, european fee anti-subsidy investigation into chinese language evs, eu sanctions towards russia, eu economic system is demonstrating weak development, inflation, recession within the eu
eu’s looming commerce warfare with china, ec considers further tariffs on chinese language electrical automobiles, chinese language evs, european fee anti-subsidy investigation into chinese language evs, eu sanctions towards russia, eu economic system is demonstrating weak development, inflation, recession within the eu
The Chinese language media issued a warning to the European Fee (EC) in regards to the potential imposition of tariffs on China’s electrical automobiles (EV) in Europe. Will Brussels lend a sympathetic ear or fall right into a sanctions lure?
The European Fee is getting ready to announce its conclusions following a months-long anti-subsidy inquiry into Chinese language electrical automobiles.
In line with some estimates, Chinese language EVs are round 20 % cheaper than their European counterparts.
The worth hole has prompted the Fee to think about further tariffs — on the pretext that Chinese language automobile makers obtain state support, which the European Union courses as an “unfair benefit”.
The probe was launched regardless of the Fee receiving no formal complaints from the European car-making business. Within the absence of precise hurt accomplished, it focuses on the “potential” menace from the inflow of low-cost Chinese language EVs to the European market.
It quoted to German Chancellor Olaf Scholz’s September 2023 remarks that German carmakers mustn’t worry their Asian rivals, and Swedish Prime Minister Ulf Kristersson’s Might 14 warning that “a wider commerce warfare the place we block one another’s merchandise is just not the way in which to go.”
Bloomberg cited European auto-manufacturers additionally warning towards the transfer.
Final month, Stellantis Chief Government Officer Carlos Tavares referred to as potential tariffs towards Chinese language EVs a “huge lure” that would speed up inflation. Mercedes CEO Ola Kallenius said earlier this month that Europe ought to resist the decision for protectionist measures, whereas former Volkswagen CEO Herbert Diess famous final week that slapping tariffs on Chinese language EVs may postpone the Europe’s transition to wash vitality and spark a harmful worldwide commerce warfare.
“That begs the query as to why the European Fee strikes ahead such an unpopular and harmful step that lacks any factual and authorized foundation,” famous World Instances, suggesting that some EU politicians need to use rising rigidity between Beijing and the bloc for their very own political positive factors — and naming Washington as the main driving pressure behind the looming EU-China tariff warfare.
In mid-Might the Biden administration introduced further tariffs on Chinese language-made electrical automobiles, photo voltaic panels, semiconductors, metal and different merchandise. Chinese language EVs shipped to the US now face a whopping one hundred pc import tax.
The Chinese language each day mentioned it was no coincidence that the Fee’s announcement will likely be made following the European Parliament elections from June 6 to 9, as tariffs would trigger “appreciable losses for EU companies and customers.”
“If there’s any query about whether or not China will reply and the way it will reply, one can have a look at how China responded to the US-initiated commerce warfare with China over the previous a number of years. China is not going to escalate the state of affairs, however make no mistake, its response will likely be ample and felt by the EU facet,” the newspaper warned.
Bloomberg shed some gentle on what Beijing may do in response to Brussels’ punitive measures:
Europe now finds itself between a rock and a tough place. It has already adopted Washington’s go well with in introducing sweeping sanctions towards Russia — which then backfired resulting in de-industrialization in some former industrial powerhouses, corresponding to Germany.
The European bloc is claimed to have rebounded from a “gentle recession,” however its 0.3 % GDP development within the first quarter of 2024 seems weak.
The West’s commerce warfare towards China may deal a brand new blow to the European economic system. The query is how lengthy the EU will proceed to hurt its personal pursuits below Washington’s steering.
