Media report on EU preparations for trade war with China
Economy
The European Union is preparing for a large-scale trade war with China over duties on electric cars. This is reported by "Izvestia" with reference to The Economist.
The publication noted that Europe is preparing for a big trade war and that further conflicts with Beijing are possible, during which the EU will use new types of trade weapons.
It could be about the punitive mechanism of international state procurement. It implies blocking China's access to government tenders across Europe in case of disobedience.
Also, according to the publication, the EU fears the re-election of former US President Donald Trump, who has already promised to impose ten per cent duties on all imports.
The EU has imposed import duties of up to 37.6 per cent on electric cars from China since 4 July. Such a step was taken because of subsidising production in the PRC. The size of duties for carmakers will be from 17.4 to 37.6% of the cost of their products.
In late February, US President Joe Biden initiated an investigation into cars imported into the country from China due to the alleged potential threat to national security. He ordered an investigation into Chinese connected cars that could collect sensitive data on citizens and critical infrastructure of the United States.
It could be about the punitive mechanism of international state procurement. It implies blocking China's access to government tenders across Europe in case of disobedience.
Also, according to the publication, the EU fears the re-election of former US President Donald Trump, who has already promised to impose ten per cent duties on all imports.
The EU has imposed import duties of up to 37.6 per cent on electric cars from China since 4 July. Such a step was taken because of subsidising production in the PRC. The size of duties for carmakers will be from 17.4 to 37.6% of the cost of their products.
In late February, US President Joe Biden initiated an investigation into cars imported into the country from China due to the alleged potential threat to national security. He ordered an investigation into Chinese connected cars that could collect sensitive data on citizens and critical infrastructure of the United States.
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