• Latest
  • Trending
  • All

EU hits China with tariffs in battle for sales

October 4, 2024

Teens who fled Venezuela after deadly quakes caught in another disaster in Colombia

August 15, 2026

Activists deliver aid to Palestinians in homes besieged by Israeli settlers

August 15, 2026

Canadians are still boycotting US travel. Here’s where they’re going instead

August 15, 2026

Why is Selena Gomez being sued?

August 15, 2026

Powerful 7.7-magnitude earthquake kills at least 38 in Indonesia

August 15, 2026

Ice cream: How the big firms innovate to stay ahead

August 15, 2026

Temporary disposable barbecue ban over wildfire risk

August 15, 2026

Why tech bosses keep sharing their manifestos about AI

August 15, 2026

European Athletics Championships 2026: Keely Hodgkinson takes 800m silver behind Swiss rival Audrey Werro

August 15, 2026

Electric vehicle sales targets could be cut after pressure from car makers

August 14, 2026

Business Daily – Taking Stock: The cost of heatwaves

August 14, 2026

Major oil slick washes up on Iran coast after Hormuz ship strike

August 14, 2026
News
  • Login
  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More
Saturday, August 15, 2026
No Result
View All Result

NEWS

3 °c
London
8 ° Wed
9 ° Thu
11 ° Fri
13 ° Sat
  • Home
  • Video
  • World
    • All
    • Africa
    • Asia
    • Australia
    • Europe
    • Latin America
    • Middle East
    • US & Canada

    Teens who fled Venezuela after deadly quakes caught in another disaster in Colombia

    Activists deliver aid to Palestinians in homes besieged by Israeli settlers

    Canadians are still boycotting US travel. Here’s where they’re going instead

    Australia v Bangladesh: Steve Smith benefits from reprieve but tourists dominate day one of first Test

    Builders unearth €9m gold loot sealed in walls of Belgian property

    Chad’s Succès Masra: Former prime minister given state pardon

    Japan: Record rain in Chiba kills eight as thousands stranded at Narita Airport

    Engine parts smashed Ryanair window that man’s head was sucked out of, report says

    Stolen Matisse artworks recovered by police in Brazil

  • UK
    • All
    • England
    • N. Ireland
    • Politics
    • Scotland
    • Wales

    Temporary disposable barbecue ban over wildfire risk

    European Athletics Championships 2026: Keely Hodgkinson takes 800m silver behind Swiss rival Audrey Werro

    Killer who will not say where wife's body is to stay in prison

    Arrests and road closed over suspected abduction in East Lothian

    Tân mawr ger Llanymddyfri yn gorfodi nifer o bobl i adael eu tai

    Ardoyne: Police defend response to north Belfast incidents

    'Welcome to one of the most bizarre by-elections in recent history'

    European Athletics Championships 2026: Amy Hunt wins 200m gold as Dina Asher-Smith claims bronze

    'Releasing my son's killer early would be a slap in the face'

  • Business
    • All
    • Companies
    • Connected World
    • Economy
    • Entrepreneurship
    • Global Trade
    • Technology of Business

    Ice cream: How the big firms innovate to stay ahead

    Electric vehicle sales targets could be cut after pressure from car makers

    Business Daily – Taking Stock: The cost of heatwaves

    US says dozens of countries helped China dodge Trump’s tariffs

    RBSI announces around 50 job cuts in Jersey

    UK economy grows but experts warn of challenging months ahead

    Twitch users can now block Amazon from using their content to train AI

    Burnham warned Iran war could hit UK growth next year

    First wave of ‘pounds for pylons’ energy discount sites revealed

  • Tech
  • Entertainment & Arts

    Meghan hits red carpet at Power of Women in Hollywood

    Margot Robbie unable to speak at Saltburn premiere

    Barbra Streisand: Siri can now pronounce my name

    Wes Anderson’s The Grand Budapest Hotel inspires cinema’s look

    Taylor Swift/ Travis Kelce romance reaches White House

    The Killers booed at Georgia concert after inviting Russian fan on stage

    Watch: Memorable moments from Parkinson's star-studded show

    Tom Jones: Neighbour surprised to find singer in flat below

    Black Country Folk Festival showcases local musicians

    Watch: Australians set new world record with Tina Turner dance

  • Science
  • Health
  • In Pictures
  • Reality Check
  • Have your say
  • More
    • Newsbeat
    • Long Reads

NEWS

No Result
View All Result
Home Business Companies

EU hits China with tariffs in battle for sales

October 4, 2024
in Companies
4 min read
251 2
0
492
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Big taxes will be imposed on imports of electric vehicles from China to the EU after the majority of member states backed the plans.

The move to introduce tariffs aims to protect the European car industry from being undermined by what EU politicians believe are unfair Chinese-state subsidies on its own cars.

Tariffs on electric cars made in China are set to rise from 10% to up to 45% for the next five years, but there have been concerns such a move could raise electric vehicle (EV) prices for buyers.

The decision, which split EU member states such as France and Germany, risks sparking a trade war between Brussels and Beijing, which has condemned the tariffs as protectionist.

China has been counting on high-tech products to help revive its flagging economy and the EU is the largest overseas market for the country’s electric car industry.

Its domestic car industry has grown rapidly over the past two decades and its brands, such as BYD, have begun moving into international markets, prompting fears from the likes of the EU that its own companies will be unable to compete with the cheaper prices.

The EU imposed import tariffs of varying levels on different Chinese manufacturers in the summer, but Friday’s vote was to decide if they were implemented for the next five years.

The charges were calculated based on estimates of how much Chinese state aid each manufacturer has received following an EU investigation. The European Commission set individual duties on three major Chinese EV brands – SAIC, BYD and Geely.

EU members were divided on tariffs. Germany, whose car manufacturing industry is heavily dependent on exports to China, was against them. Many EU members abstained in the vote.

German carmakers have been vocal in opposition. Volkswagen says tariffs are “the wrong approach”.

However, France, Italy, the Netherlands and Poland were reported to have backed the import taxes. The tariffs proposal could only have been blocked if a qualified majority of 15 members voted against it.

Germany’s top industry association, BDI, called on the European Union and China to continue trade talks over tariffs to avoid an “escalating trade conflict”.

The European Commission, which held the vote, said the EU and China would “work hard to explore an alternative solution” to the import taxes to address what it called “injurious subsidisation” of Chinese electric vehicles.

China’s Commerce Ministry called the decision to impose tariffs “unfair” and “unreasonable”, but added the issue could be resolved through negotiations.

The dispute has raised fears among industry groups outside the car sector that they could face retaliatory tariffs from China.

A trade body for the French cognac industry said the French authorities “have abandoned us”.

“We do not understand why our sector is being sacrificed in this way.”

It said a negotiated solution needed to be found that would “prevent our products from facing a surtax that could exclude them from the Chinese market”.

Figures show that in August this year, EU registrations of battery-electric cars fell by 43.9% from a year earlier.

In the UK, demand for new electric vehicles hit a new record in September, but orders were mostly driven by commercial deals and by big manufacturer discounts, according to the industry trade body.

The Society of Motor Manufacturers and Traders (SMMT) said firms had “serious concerns as the market is not growing quickly enough to meet mandated targets”.

The industry has warned that drivers need better incentives to buy electric to help manufacturers ahead of the planned ban on sales of new petrol and diesel vehicles. Under the Conservative government the deadline for this ban was pushed back to 2035 from 2030, but Labour has pledged to bring it back to 2030.

Car makers are required to meet electric vehicle sales targets. Under the Zero Emission Vehicle (ZEV) mandate, at least 22% of vehicles sold this year must be zero-emission, with the target expected to hit 80% by 2030 and 100% by 2035.

Manufacturers that fail to hit quotas could be fined £15,000 per car.

The bosses of several car companies, including BMW, Ford and Nissan, wrote to Chancellor Rachel Reeves on Friday saying the industry was likely to miss these targets.

They said economic factors such as higher energy and material costs and interest rates had meant electric cars remained “stubbornly more expensive and consumers are wary of investing”. The average cost to buy an electric car in the UK is around £48,000.

They said a “lack of confidence” in the UK’s charging infrastructure was another barrier to encourage people to switch to electric.



Source link

Tags: battleChinahitssalestariffs

Related Posts

Electric vehicle sales targets could be cut after pressure from car makers

August 14, 2026
0

The UK's electric vehicle (EV) sales target could be cut after the government launched a review following pressure from...

RBSI announces around 50 job cuts in Jersey

August 13, 2026
0

Officials at the Royal Bank of Scotland International (RBSI) have confirmed around 50 people across Guernsey, Jersey, Isle of...

Raw images, no filters: Why MySpace fans want it back as relaunch hinted

August 9, 2026
0

MySpace launched in 2003 and quickly became a cultural hub, helping artists like Arctic Monkeys, Adele, and Nicki Minaj...

  • Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

    677 shares
    Share 271 Tweet 169
  • Belgian footballer arrested in cocaine investigation

    533 shares
    Share 213 Tweet 133
  • Next to raise prices to help pay for rising wage costs

    532 shares
    Share 213 Tweet 133
  • South Wales Police officers injured, one arrested

    525 shares
    Share 210 Tweet 131
  • Charities to get £15m fund to save surplus farm food

    516 shares
    Share 206 Tweet 129
  • Trending
  • Comments
  • Latest

Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

January 16, 2025

Belgian footballer arrested in cocaine investigation

January 27, 2025

Next to raise prices to help pay for rising wage costs

January 7, 2025

World Cup 2022: TikTok brings football fever to millions of fans

0

UK economy will get worse before it gets better, warns chancellor

0

One of Central America’s most active volcanoes erupts again

0

Teens who fled Venezuela after deadly quakes caught in another disaster in Colombia

August 15, 2026

Activists deliver aid to Palestinians in homes besieged by Israeli settlers

August 15, 2026

Canadians are still boycotting US travel. Here’s where they’re going instead

August 15, 2026

Categories

Latin America

Teens who fled Venezuela after deadly quakes caught in another disaster in Colombia

August 15, 2026
0

Back at the end of June, the two teenagers had gone to the beach on Venezuela's Caribbean coastline. Winder...

Read more

Activists deliver aid to Palestinians in homes besieged by Israeli settlers

August 15, 2026
News

© 2023 GODJ - NEWS CORP - news.godj.com.

Explore NEWS.GODJ.COM

  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More

Follow Us

  • Home Main
  • Video
  • World
  • Top News
  • Business
  • Sport
  • Tech
  • UK
  • In Pictures
  • Health
  • Reality Check
  • Science
  • Entertainment & Arts
  • Login

© 2023 GODJ - NEWS CORP - news.godj.com.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.