EU Votes in Favor of Extended Chinese Electric Vehicle Tariffs
EU Votes in Favor of Extended Chinese Electric Vehicle Tariffs
The Facts
The European Union (EU) has voted in favor of extending tariffs against Chinese-made electric vehicles first enforced this summer (EVs) for a period of five years.
Tariffs will continue to reach up to 36% in addition to the bloc's 10% car import duty, and come following an EC investigation beginning last year alleging Chinese-state subsidies create an unfair advantage in the EV market.
The Spin
There is no need to be afraid of Beijing or its EV technology. Yet, as China opens up its manufacturing sector to foreign investment and seeks partnership with Europe, the West continues to spread fear and anxiety over China's increasingly important place in the world. Today's decision by the EU is a step backwards for international collaboration and the fight against climate change, with political agendas placed above world-leading innovation.
Europe cannot run the risk of becoming overly dependent on China's industrial sector. Tariffs do not need to be a permanent solution, but for now it is important for the EU to act from a position of strength. A message must be sent that whilst China does not need to be viewed as an adversary, the integrity and unity of bloc members will not be influenced by underpriced imported goods.
