{"id":41678,"date":"2024-10-23T05:10:48","date_gmt":"2024-10-23T10:10:48","guid":{"rendered":"https:\/\/latamobility.com\/?p=41678"},"modified":"2024-10-22T19:32:49","modified_gmt":"2024-10-23T00:32:49","slug":"eu-tariffs-on-china-keep-market-on-hold","status":"publish","type":"post","link":"https:\/\/latamobility.com\/en\/eu-tariffs-on-china-keep-market-on-hold\/","title":{"rendered":"EU Tariffs on China Keep Market on Hold"},"content":{"rendered":"\n

Bloomberg<\/strong> news agency says in an opinion piece that the European Union’s<\/strong> decision to impose tariffs of up to 45%<\/strong> on Chinese electric vehicles<\/strong> is \u201ca misstep that should hopefully lead to a mutually beneficial negotiation<\/strong>, not start a trade war<\/strong> that leaves both sides worse off.\u201d<\/p>\n\n\n\n

The EU’s electric vehicle policy<\/strong> could backfire, undermining its own decarbonization goals<\/strong>, reducing competitive pressure on domestic companies and stifling innovation and productivity, warns the article published Friday.<\/p>\n\n\n\n

According to the note, tariffs<\/strong> could fuel calls for more trade barriers<\/strong> and state aid<\/strong>, driving \u201can industrial policy<\/strong> that is already failing.\u201d<\/p>\n\n\n\n

You may also read:<\/strong> China Urges EU to Eliminate Electric Vehicle Tariffs<\/a><\/p>\n\n\n\n

Trade Conflict<\/strong><\/h2>\n\n\n\n

According to Bloomberg<\/strong>, such tools are being overused, undermining the EU’s commitment to free trade<\/strong>, the text says, noting that other investigations are underway, as is the case with wind turbine suppliers<\/strong> and Chinese government procurement<\/strong>.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

While supporters say the tariffs will push Chinese automakers<\/strong> to build capacity in Europe<\/strong>, Bloomberg<\/strong> noted that it will take time for China<\/strong> to build distribution and service networks in Europe<\/strong>.<\/p>\n\n\n\n

Despite a surge in imports of Chinese-made electric vehicles<\/strong> since 2020, Chinese brands<\/strong> only account for about 8 percent<\/strong> of new battery-electric vehicle<\/strong> sales.<\/p>\n\n\n\n

Meanwhile, European automakers<\/strong> still need access to the burgeoning Chinese market<\/strong>.<\/p>\n\n\n\n

\u201cHigh costs<\/strong>, slow innovation<\/strong>, regulatory challenges<\/strong> and fragmented capital markets<\/strong> weigh heavily on European automakers<\/strong>,\u201d Bloomberg<\/strong> notes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberg news agency says in an opinion piece that the European Union’s decision to impose tariffs of up to 45% on Chinese electric vehicles is \u201ca misstep that should hopefully lead to a mutually beneficial negotiation, not start a trade war that leaves both sides worse off.\u201d The EU’s electric vehicle policy could backfire, undermining…<\/p>\n","protected":false},"author":10,"featured_media":41675,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[2054],"tags":[2572,2729,1281],"class_list":["post-41678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-mobility","tag-china-2","tag-eeuu","tag-electric-mobility"],"yoast_head":"\nEU Tariffs on China Keep Market on Hold - 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