Fast Technology reported on July 18 that it was reported that the European Union is considering significantly reducing the high tariffs imposed on BMW and Volkswagen, two models produced in China and imported into Europe.
BMW’s new electric MINI and Volkswagen’s Seat’s Cupra Tavascan are both produced in Chinese factories and have faced tariffs of up to 37.
6% since the new regulations came into effect in early July.
However, the latest report said that the European Commission intends to halve the tariffs on these two vehicles almost to 20.8%. It is reported that on July 4, the European Commission announced that it had decided to impose temporary countervailing duties on imports of electric vehicles from China after conducting a nine-month countervailing investigation on Chinese Electric Vehicles (BEVs).
The specific tax rates are 17.
4% for BYD, 19.
9% for Geely, and 37.
6% for SAIC.
Other Chinese producers that cooperate but have not been sampled will be subject to a weighted average tariff of 20.8%. Electric vehicle manufacturers that do not cooperate have a tax rate of 37.
6%, while BMW and Volkswagen are both among the non-cooperative ones, so they are subject to a top tariff of 37.6%. In addition, EU member states also have differences on the policy of imposing tariffs on Chinese electric vehicles.
Although the EU tariff policy has taken effect, it is only temporary for the first four months.
Whether this tariff policy can be extended to a five-year period still requires a joint decision by member states.
However, in the recent EU interim vote on imposing tariffs on Chinese electric vehicles, a person familiar with the matter revealed that 12 EU member states supported imposing additional tariffs, 4 countries opposed it, and 11 member states abstained.
If 15 member states representing 65% of the EU’s population oppose it, the tariff proposal could be rejected.
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