This EU move would present an important opportunity for India,
He European Union On Friday he voted to impose tariffs on Chinese battery electric vehicles. The Commission stated that it represents a further step towards concluding its anti-subsidy investigation against Porcelain. According to reports, the EU will impose tariffs of up to 45 percent on Chinese electric vehicles.
“Today, the European Commission’s proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from EU Member States for the adoption of tariffs,” the EU announced in a statement.
At the same time, the EU said it would continue to work hard to explore an alternative solution with China that would have to be “fully WTO compatible and appropriate to address harmful subsidies” established by the Commission’s investigation.
Experts believe that this EU move would represent a significant opportunity for India, a major automaker.
Earlier this year, in May, the US administration also, in what it called a protectionist move to reduce the trade imbalance, imposed heavy tariffs on several Chinese products, including electric vehicles and batteries. The United States had emphasized that these measures are necessary to counter the flooding of global markets with low-cost Chinese products.
(This story has been selected from a union newswire and has not been edited by Times Now)
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