China's Commerce Minister Wang Wentao will visit Europe in recent days and on September 19 will talk with EU trade chief Dombrovskis on the EU's anti-subsidy investigation case against Chinese EVs.
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Category: Policy
China has strongly advised its automakers to ensure that advanced EV technology stays at home and encouraged them to export knock-down kits to foreign factories for final assembly, according to Bloomberg.
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The European Union is set to make small reductions in the proposed additional tariff rates on EVs from China, with Tesla facing a reduction from 9 percent to just under 8 percent, according to Bloomberg.
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"The intention was to protect the European car industry but for us, it's having the opposite effect .... We need to find a solution," Cupra's CEO said.
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China plans to resort to the WTO dispute settlement mechanism against Canada's practices and will launch the world's first anti-discrimination investigation.
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Tesla had approached Ottawa to lower tariffs on its vehicles ahead of Canada's announcement this week of a 100 percent tariff on China-made EVs, according to Reuters.
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The Canadian government plans to announce a 100 percent levy on EVs from China and 25 percent on steel and aluminum, Bloomberg reported.
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BYD, Geely, and SAIC all face slightly lower tariff rates than previously, while Tesla's 9 percent is well below the 20.8 percent indicated last month.
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The USTR expects its final ruling to be issued in August, and the new tariffs, which had been planned to take effect on August 1, will go into effect about two weeks after the publication of the final determination.
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BYD and Leapmotor will benefit the most, followed by Xpeng, Geely Auto, Changan, Great Wall Motor and GAC due to their relatively large exposure to low-priced vehicles, said Deutsche Bank.
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