EU votes in favour of hefty tariffs on China-made EV imports
Spanish meat association hopes there will be no retaliation
7 October 2024
2 minute read
By: The European Union backed tariffs of up to 45% on imported Chinese electric vehicles (EVs) on Friday as it looks to counter Beijing's subsidies for automakers now targeting Europe, Reuters reported.
"The electric vehicle sector holds huge potential for Europe's future competitiveness and green industrial leadership," said European Commission president Ursula Von Der Leyen.
"EU car manufacturers and related sectors are already investing and innovating to fully develop this potential," she added. "Wherever we find evidence that their efforts are being impeded by market distortions and unfair competition, we will act decisively."
"And we will do this in full respect of our EU and international obligations - because Europe plays by the rules, within its borders and globally. This anti-subsidy investigation will be thorough, fair, and fact-based," Von Der Leyen said.
German finance minister Christian Lindner added on X that the EU Commission "should not trigger a trade war despite the vote in favour of possible punitive tariffs against China. We need a negotiated solution."
"Beyond the imposition of tariffs, we have to continue going forward in this negotiation, since it is important to protect a sector as strategic as the automobile sector while avoiding an escalation of trade measures, which could be detrimental to all," said Spain's Economy Minister Carlos Cuerpo.
Italy's industry minister Adolfo Urso added: "We are against any hypothesis of a 'trade war' and will work together to avoid it. We must preserve the industrial and commercial partnership with China, with whom we want to continue working in a win-win logic based on the principle of reciprocity, also for the sake of global economic stability."
"We have had very positive signals just recently from the Commission that they hopefully could go ahead with individual solutions for the auto industry and for Volvo Cars specifically," said Benjamin Dousa, Sweden's minister for foreign trade.
"Sweden's line is that the best thing would be that China and the EU together can come to an agreement in relation to this problem," he added.
"What they are making us do right now, or what the EU wants to do, is an economic cold war," Hungarian prime minister Viktor Orban said.
In a statement, the National Association of Spanish Meat Industries said:
"We had hoped that there was a possibility of exploring other measures, but the result is what it is. Now, we can only await the consequences, which we hope will not be serious for the pork sector."
"We trust and hope that this decision will not have a negative impact on trade relations with China as far as the pork sector is concerned, and that the threat of possible tariffs on Spanish pork products does not materialise."
