Retaliatory message from China to the EU: 'Measures will be taken'

Following reports that the European Commission will impose additional tariffs of up to 25 percent on Chinese electric vehicles, China has announced that it will take all measures to "firmly defend" its legal rights and interests.

A report published today in the Financial Times, citing sources familiar with the matter, stated that the European Commission would inform automakers today that it will impose additional customs duties of up to 25 percent on electric vehicles imported from China starting next month.

Analysts had expected additional customs duties of 10 to 25 percent to be imposed on Chinese-origin electric vehicles.

The European Commission claims that China's electric vehicles receive excessive subsidies.

REACTION FROM BEIJING

Meanwhile, Chinese Foreign Ministry Spokesperson Lin Jian stated at a press conference that the EU's additional customs duties on electric vehicles imported from China would violate market economy principles and harm Europe's own interests.

Recently, the US similarly quadrupled tariffs on Chinese-made electric vehicles, raising them to 100 percent.

LOWER TAX RATES TO BE SET

Brussels is expected to set much lower tax rates compared to the US for imports from Chinese manufacturers such as BYD and Geely, as well as Western manufacturers like Tesla that export cars from China to Europe.

BYD, Geely, SAIC, and Tesla did not respond to Reuters' requests for comment.

News Source: 12punto