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Germany wont be happy.[URL unfurl="true"]https://www.businesstimes.com.sg/international/spain-breaks-eu-ranks-sudden-call-drop-china-ev-tariffs[/URL]The bloc’s second-largest car manufacturer, Spain, is looking to attract Chinese investments to develop its EV industryTHE European Union should re-examine its plan to impose additional tariffs on Chinese-made electric vehicles (EV), Spanish Prime Minister Pedro Sanchez said during a visit to the Asian nation, underlining simmering EU divisions over the trade measure. “I have to be blunt and frank with you that we need to reconsider – all of us, not only member states but also the European Commission – our position towards this movement,” Sanchez said on Wednesday (Sep 11) in Kunshan, China.Such a move would represent a dramatic reversal for EU trade chiefs in Brussels and their supporters such as French President Emmanuel Macron, who have been calling for urgent action to prevent European manufacturers being overwhelmed by state-subsidised competition from China.If a qualified majority of member states – 15 countries representing at least 65 per cent of the EU’s population – does not block the measures in a binding vote, the European Commission will publish a final regulation on the tariffs by Oct 30. The duties would then remain in effect for five years.
Germany wont be happy.
[URL unfurl="true"]https://www.businesstimes.com.sg/international/spain-breaks-eu-ranks-sudden-call-drop-china-ev-tariffs[/URL]
The bloc’s second-largest car manufacturer, Spain, is looking to attract Chinese investments to develop its EV industry
THE European Union should re-examine its plan to impose additional tariffs on Chinese-made electric vehicles (EV), Spanish Prime Minister Pedro Sanchez said during a visit to the Asian nation, underlining simmering EU divisions over the trade measure.
“I have to be blunt and frank with you that we need to reconsider – all of us, not only member states but also the European Commission – our position towards this movement,” Sanchez said on Wednesday (Sep 11) in Kunshan, China.
Such a move would represent a dramatic reversal for EU trade chiefs in Brussels and their supporters such as French President Emmanuel Macron, who have been calling for urgent action to prevent European manufacturers being overwhelmed by state-subsidised competition from China.
If a qualified majority of member states – 15 countries representing at least 65 per cent of the EU’s population – does not block the measures in a binding vote, the European Commission will publish a final regulation on the tariffs by Oct 30. The duties would then remain in effect for five years.
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