2y ago

China rebukes EU after formal launch of EV subsidy probe

www.reuters.com

China voiced dissatisfaction on Wednesday at a demand by the European Union to engage within a "very short" time in consultations on the bloc's inquiry into subsidies for electric vehicles.

The remarks came as the European Commission formally launched the investigation on whether to set tariffs to shield its producers from a "flood" of imports of cheaper Chinese electric vehicles (EV) it says benefit from state subsidies.

However, China was "very much dissatisfied" with the anti-subsidy investigation as it lacked adequate evidence and did not conform with World Trade Organization rules, the country's commerce ministry said in a statement.

7 comments

China is dissatisfied? Boohoo. Anyway...
- Cheap EVs are good for the transition to clean energy... cheap EVs are good for everyone because they drive adoption.
  
  Cheap EVs that are mass produced and subsidized to dump them on foreign markets and destroy local industries is not good for everyone.
  Europes domestic car makers will disappear within 10 years if they do nothing to protect them.
This is the best summary I could come up with:
SINGAPORE/BRUSSELS, Oct 4 (Reuters) - China voiced dissatisfaction on Wednesday at a demand by the European Union to engage within a "very short" time in consultations on the bloc's inquiry into subsidies for electric vehicles.
The remarks came as the European Commission formally launched the investigation on whether to set tariffs to shield its producers from a "flood" of imports of cheaper Chinese electric vehicles (EV) it says benefit from state subsidies.
However, China was "very much dissatisfied" with the anti-subsidy investigation as it lacked adequate evidence and did not conform with World Trade Organization rules, the country's commerce ministry said in a statement.
The Chinese side had not been given adequate consultation materials, it said, and would pay close attention to the Commission's investigative procedures so as to safeguard the rights and interests of its firms.
China also urged the European Union to safeguard the stability of the global supply chain and a strategic partnership between the two, while "prudently" applying trade remedies.
It enumerated these as being in the form of grants, loans from state-owned banks on preferential terms, tax cuts, rebates and exemptions and state provision of goods or services, such as raw materials and components, at less than adequate prices.
The original article contains 334 words, the summary contains 204 words. Saved 39%. I'm a bot and I'm open source!

7 comments