Etiqueta: subsidy

Chinese firms have reported a decline in sales and a hit to brand image as a result of the EU's recently concluded anti-subsidy probe

BYD doesn't seem fazed by the European Union's new tariffs on Chinese electric vehicle (EV) imports.

MILAN (Reuters) -Shares of some of Europe's biggest carmakers fell further on Thursday on uncertainty over how China might respond to the EU's new tariffs on imported Chinese electric vehicles to combat what Brussels sees as excessive subsidies from Beijing. "The risk is that China could also take action that would particularly hit the German OEMs who are exporting to China," said Stifel analyst Daniel Schwarz in Frankfurt. Some investors, however, expect a balanced response from Beijing as Chinese carmakers will still be able to export to Europe, albeit at lower margins.

As retaliation for the EU’s tariffs on Chinese electric vehicles, China could potentially slap duties on things like European pork and dairy products, as well as brandy and luxury goods.

The European Commission said it will impose extra duties of up to 38.1% on imported Chinese electric cars from July, risking retaliation from Beijing which said on Wednesday it would take measures to safeguard its interests.

The European Commission said on Wednesday it would set provisional duties of up to 38.1% on imports of Chinese electric vehicles, a move likely to draw possible retaliation from China.

After concluding that EVs imported from China have an unfair advantage due to government subsidies, the European Commission said it...

Volkswagen Group has responded to the European Commission's (EU) decision to impose additional tariffs of up to 38% on Chinese EVs, following preliminary results of its anti-subsidy investigation which found that prices are being distorted by Chinese state support.

The European Commission said it would impose provisional tariffs that would result in Chinese automakers facing additional duties of as much as 38%, up from the current level of 10%