Armenian News - Tert.am
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07:10 Oct 30, 2024
A trade war between China and the European Union was set to intensify after Beijing said it had lodged a complaint with the World Trade Organization following a move by the European Union to hike tariffs on Chinese-made electric vehicles. China’s commerce ministry on Wednesday said in a statement that it “does not agree with or accept” the EU’s decision to proceed with extra duties on the EVs after the conclusion of an anti-subsidy probe that began last year. A final ruling published by the European Commission on Tuesday stated that a top rate of 35.3 per cent would be applied to EVs from Chinese state-owned company SAIC Motor and its subsidiaries, in addition to a baseline 10 per cent duty that applies to all EV imports.