(13 Jun 2024)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Beijing, China – 13 June 2024
1. Wide of Chinese Foreign Ministry spokesperson Lin Jian arriving at news conference
2. Cutaway of reporters
3. SOUNDBITE (Mandarin) Lin Jian, Chinese Foreign Ministry spokesperson:
“This investigation is a typical act of protectionism which ignores the facts and WTO rules. It goes against historical trend and will benefit no one. We urge the EU to heed the rational and objective views of various parties, correct its wrong decision immediately, stop turning trade into political issues, properly address trade restrictions through dialogue and consultation, and avoid harming mutual trust, dialogue and cooperation between China and the EU.”
4. Cutaway of reporter
5. SOUNDBITE (Mandarin) Lin Jian, Chinese Foreign Ministry spokesperson:
“China has its principles to uphold, that is the WTO rules and market principles. We have our interests we must safeguard, that is the legitimate rights and interests of the Chinese EV industry and companies. For that, we will take all necessary measures.”
6. Cutaway of reporters
7. Wide of news conference
STORYLINE:
China’s foreign ministry on Thursday vowed to safeguard the interests of Chinese companies after the European Union moved to hike tariffs, or import taxes, on electric vehicles made in China.
EVs are the latest flash point in a broader trade dispute over Chinese government subsidies and the Asian nation’s burgeoning exports of green technology to the 27-nation bloc.
“We have our interests we must safeguard, that is the legitimate rights and interests of the Chinese EV industry and companies," Lin said, "for that, we will take all necessary measures.”
On Wednesday, the European Commission, said the preliminary results of its ongoing investigation into Chinese EV subsidies show that the country’s battery electric vehicle “value chain” benefits from "unfair subsidization" that hurts EU rivals.
It plans to impose provisional tariffs of up to 38.1% on electric vehicles shipped from China.
That’s on top of the 10% duties for all imported EVs.
The commission took aim at three of the biggest Chinese EV players in Europe, saying it would impose extra duties of 17.4% on electric cars from BYD, 20% on those from Geely and 38.1% for vehicles exported by China’s state-owned SAIC.
Geely owns a stable of popular brands, including Polestar, British sports car maker Lotus and Sweden’s Volvo, while SAIC owns Britain’s MG, one of Europe’s bestselling EV brands.
Other EV manufacturers in China would be subject to duties of at least 21%.
The commission said it has reached out to Chinese authorities to "explore possible ways to resolve the issues" but if those discussions don’t result in an effective solution, the duties will take effect on July 4.
China is almost certain to retaliate and pressure European officials to negotiate.
The China Chamber of Commerce to the EU warned that Beijing could raise duties on cars with engines larger than 2.5 liters, a move that could affect German luxury carmakers such as Volkswagen’s Porsche.
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