China is urging the EU to eliminate increased duties and “adhere to regulations set by the World Trade Organization.”

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In the midst of escalating trade tensions, China is calling on the EU to rescind the elevated duties imposed on Chinese electric vehicles. Following discussions between China’s commerce minister, Wang Wentao, and Valdis Dombrovskis, the executive vice president of the European Commission, both parties have agreed to initiate new talks to address the EU’s anti-subsidy investigation concerning Chinese EVs.

It is imperative for China that the European Commission reverses its tariff decision by July 4 and respects the regulations outlined by the World Trade Organization, as reported by the Global Times. The EU’s provisional tariffs, reaching rates as high as 38.1% on Chinese electric vehicle imports, are scheduled to take effect on July 4 unless fruitful discussions with Chinese officials lead to a different outcome.

Aside from the existing 10% duty already in place on imported electric vehicles, the additional tariffs proposed by the EU could significantly impact trade relations between the two economic powerhouses. Observers noted that a reversal of the tariff decision would be mutually beneficial, considering the substantial economic and trade ties that bind China and the EU together.

Experts caution that the European Union’s actions could trigger retaliatory measures from China, resulting in detrimental consequences for both sides unless a resolution is reached promptly. China has vehemently opposed the imposition of tariffs, denouncing it as a display of “blatant protectionism” that potentially breaches WTO regulations, according to the Chinese commerce ministry’s statement on June 14.

Chinese officials have criticized the EU’s investigation into Chinese EVs, labeling it as overly selective and questioning the credibility of the findings. The situation remains tense as both China and the EU navigate through this challenging phase in their trade relations, with hopes for a peaceful and constructive resolution on the horizon.

For more detailed insights, you can access the complete article on Global Times.

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