China's automobile body says EU draft on EV tariffs is risky

seekingalpha08-21

China expressed strong opposition to the European Commission's draft proposal to impose tariffs on electric vehicles imported from China, labeling it as a significant threat to its automotive sector. ...

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The China Association of Automobile Manufacturers (CAAM) said that these tariffs pose \"enormous risks and uncertainty\" for Chinese operations and investments within the EU. The high tariffs have \"damaged the confidence of Chinese enterprises operating in and investing in Europe,\" Reuters reported, citing Chinese state broadcaster CCTV. They argue that the tariffs could disrupt the balance of competition and harm the interests of businesses engaged in the EV market. The proposed tariffs range from 17% to 36.3%, a slight adjustment from previous rates. In July, it set a maximum initial planned duty of 37.6%. It will have a \"serious adverse impact on driving the development of the EU automotive industry, increasing local employment opportunities in the EU and achieving green and sustainable development,\" CAAM said. On Tuesday, the EU laid out plans to impose a 9% tariff on Tesla (TSLA) cars imported from China. Tickers to watch: BYD (OTCPK:BYDDF), Li Auto (LI), XPeng (XPEV), NIO (NIO), Geely (OTCPK:GELYF).","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"Policy And Regulatory","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2461428758"}