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Leaders in Brussels and Washington are seeking to curb Chinese auto ambitions amid emerging industrial tensions and fears that a glut of Chinese cars will flood global markets.
By Melissa Eddy
Report from Berlin
The European Union announced on Wednesday that it will impose new price lists of up to 38% on electric cars imported into the bloc from China. The leaders called for an effort to protect the region’s brands from unfair competition.
The move, a month after President Biden quadrupled U. S. price lists of Chinese electric cars to 100%, opens a new front of rising industrial tensions with China amid growing fears that a glut of Chinese green technology products will flood global markets.
The moves by the European Union and the United States also reflect the demanding situations facing classic carmakers in Europe and the United States against emerging Chinese corporations founded on electric cars and whose prices are much lower than those of their Western rivals. .
But unlike U. S. automakers, several of their European counterparts are deeply tied to the Chinese market, and their cars produced in that country will also be subject to higher price lists. They criticized the European Union’s resolution to increase price lists by 10%. for fear of retaliation from China, as well as higher market prices and lower demand for battery-powered vehicles.
The increases announced Wednesday, which are in addition to the existing 10-cent tariff, are initial and will take effect July 4. They range from 17. 4 percent to 38. 1 percent for three of China’s top automakers, BYD, Geely, and SAIC. The price lists were calculated based on cooperation with European officials, who have spent the past few months investigating the Chinese government’s position for those companies.
Other automakers that make electric vehicles in China, in addition to European companies that have factories or joint ventures there, face price lists of 21% or 38. 1%, depending on the European Union. These rates also depend on your cooperation with the research.
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