Written by Cláudio Afonso | LinkedIn | X
After reducing the extra tariffs on China-made electric vehicles last month, the European Union will drop them further after reviewing new data shared by the automakers involved.
If confirmed in November, the tariffs will be added on top of the existing 10 per cent duty that all exporters face.
Tesla, which saw its tariff drop from 20.8 per cent to 9 per cent, will face now a 7.8 per cent, Bloomberg reported on Tuesday citing people familiar with the decision.
Companies who cooperated with the investigation — such as Nio and Xpeng — have recently seen their tariff increase from 20.8 to 21.3 per cent. With the updated duties, it is still unknown wether their tariffs are increased or decreased.
SAIC Group, which owns MG and other brands, is the most affected group and sees now its tariff reduced to 35.3 per cent, down from 36.3 per cent duty.
Last month, Tesla saw its tariff drop from 20.8 per cent to 9 per cent following an extra review asked by the company’s CEO Elon Musk while cooperating companies that including Nio and XPeng saw their tariffs increase from 20.8 per cent to 21.3 per cent.
China’s Vice Minister of Commerce Li Fei met with the Director-General of the European Commission’s Directorate-General for Trade, Wayne, in Brussels on Monday.
Both parts “reiterated their willingness to address and resolve the China-EU trade friction through dialogue and to consider each other’s concerns reasonably,” China’s Ministry of Commerce said on Tuesday.
Written by Cláudio Afonso | LinkedIn | X
