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China assumes that its investigative measures serve to protect European industry. This represents “blatant protectionist behavior” that will seriously disrupt and disrupt the global automotive industry’s supply chains and have a negative impact on Sino-European economic and trade relations.
EU Commission president Ursula von der Leyen announced on Wednesday that the EU will open an investigation into state support for electric cars from China. “The price of these cars is artificially reduced due to huge state subsidies – which distorts our market,” he told the European Parliament in Strasbourg. This is unacceptable. World markets would be flooded with cheaper Chinese electric cars.
An anti-subsidy investigation could lead, for example, to the imposition of punitive tariffs. Measures are currently being taken in many economic sectors in order to reduce the EU’s dependence on countries such as China and protect domestic companies.
In March, the EU Commission presented a legislative proposal on raw material supply. This is to ensure that the EU does not remain dependent on imports from individual countries, such as China, for important raw materials.
Meanwhile, Beijing’s Ministry of Commerce emphasized the long-standing relations between Europe and China in the automotive sector. It was stated that China’s automotive industry is developing rapidly and becoming more competitive. This is the result of continuous technological innovations and the establishment of a complete industrial supply chain.
Automobile companies in the EU region have been investing in China for many years, and the Chinese market has become the largest market for these companies. China has always maintained an open and cooperative attitude and welcomes further investment and expansion of EU companies in the automotive sector into China. This also applies to electric cars.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
